The main aim of conducting business apart from receiving profit is the satisfaction of customers’ demands that can be understood and filled by dint of researches with the subsequent analysis.
Segmentation starts from an analytical survey aimed at the division of all the prospective customers into groups with similar interests and buying habits. The best way to conduct such a research is an online-survey and analysis of already existing market data.Factor Segmentation Division is based on the numerous factors such as demographics, geography, behavior and psychographics. For the Smoothie Inn it is crucial to identify the age group, territory coverage, nature of the purchase, brand loyalty and shopping habits. Market TargetingTargeting is an evaluation of the identified segments and deciding at which level it must be targeted. In order to evaluate the results of segmentation one should take into account size of the market, anticipated profits, accessibility and activities of competitors.
Market Targeting for the Smoothie Inn.
For smoothie producer, the level would be a segment, since those meals have a rather wide range of prospective consumers with some specific buying habits. The business is aimed at people aged 18-35 working in Miami/Brickell area. Since healthy food gained momentum in the last decade it would be beneficial to establish it near resort zone/ business centers.
Market positioning according to the 4Ps model: product– exclusive fruit salads and smoothies made of seasonal fruits, emphasis on healthy nutrition and modern eating preferences; place–convenient location in the highly populated areas as well as possibility to order food online; price–flexible system of discounts, rather competitive price owing to use of seasonal ingredients and reward system for loyal customers; promotion–since the company operates on the segment level advertising should be through social websites, commercials.
Lancaster, G., Massingham, L., Ashford, R., & Lancaster, G. (2002). Essentials of marketing. London: McGraw-Hill.