Target Marketing

Target Market (500)

No business can be all things to all people (No business can be, 2011). Instead, business must reach specific customers and satisfy their particular needs. For Y-Activate, it is essential to identify the set of people whom they want to target. Y-activate must understand the needs and expectations of the individuals to create its target market.

A target market represents a group of individuals who have similar needs, perceptions and interests. They show inclination towards similar brands and respond equally to market fluctuations.

These targeted markets are made up of segmented markets, each with their own variables and segmentation bases, which are commonalities shared by specific groupings of people, more commonly grouped by their demographics, geographics, psychographics and behavior. Individuals who think on the same lines and have similar preferences form Y-Activates target audience and hence, need to be catered for.

Y-Activates Bounce cereal

Behavioral- ‘Dividing a market into groups based on consumers’ knowledge of, attitude towards, uses for and responses to a product.’ (Kotler et al pg 5).

Today consumers are more concerned about their weight, cardio-health, digestive-health and immunity than ever before (Lynn Kuntz, 2011). Nutritional health and rising obesity concerns have driven increased scrutiny on the ingredients in processed foods and bakery and cereal products are dead center in many of the debates. In 2009 The Food Standards Authority of Australia reviewed the outcome of non-regulatory measures to reduce Trans Fatty Acids (TFA) in the food supply. The 2009 review found that intakes of TFAs from manufactured sources decreased in Australia and New Zealand by around 25 to 45 percent since 2007, reflecting changes in industry practice to reduce TFA levels in manufactured foods. Y-Activates appeal to the healthier consumer uses ‘benefit segmentation’ by dividing the market into groups according to different benefits consumers...