Market Segmentation

Market Segmentation

Sharon Oliveira

MKT/571

April 24, 2014

Professor Melodi Guilbault

Market Segmentation

In the business world market segmentation is important. Market Segmentation is a strategy that involves separating a wide ranging target market into subgroups of consumers, who have mutual needs and priorities, and then designing and implementing strategies to target them. The Coca-Cola Company is known for its different market segmentations because of the different kinds of merchandise that it has to offer. It is the worlds leading company in soft drinks in manufacturing, marketing, and distributing. The company tries to acquire more and new consumers from more than one type of market aimed at the same product and uses. There are different products that the Coca-Cola Company offers to consumers that are for consumers who crave caffeine, are on diets, and do not want caffeine. They also appeal to the younger consumers by the flavored soft drinks they have.

As the business tightened and shopper qualities changed, Coke reacted by creating more special items for different particular business sector portions. Since those exceptional items attract to particular gatherings, Coke can build its retailing without ripping apart the offers of its different items.

In addition, to the items stated previous, the company begun a caffeine-free Coke and Diet Coke to attract to cola drinkers who wanted less or no caffeine in their products that they purchased from the company. By presenting the decaffeinated versions of its old fashion soft drinks, Coca-Cola could build up the number of beverages it offers every day and not hurt sales, since the customers pursued by these goods were already avoiding or minimizing Coca-Cola intake to lower their caffeine intake.

Psychographic

The Coca-Cola Company uses psychographic segmentation by dividing consumers into groups by their personality straits, lifestyle, or values. Psychographic profiles are usually...