Market segmentation
Market segmentation, targeting, and positioning have become a major tool for approaching strategic marketing in the contemporary world. It has widely been used in recent times since it is based more on customers as compared to the past techniques based on the product. Communicating the “Drinks Cooler” to the customers’ needs a more strategic marketing approach best done using STP. It creates market communications and helps marketers prioritize propositions when developing more personalized relevant and engaging messages for different audiences. “Drinks Cooler” is an electronic appliance used for cooling of different liquids and can be modified to the needs of the consumer after the communication or before communication for the customers who would be interested in the products already in stock.
Cooling of drinks and other food is crucial in any household or commercial drinks storage or shop. Finding a cooling device or refrigerator plays a big role in managing food and drinks. Health and taste are preserved in the cooling of food and drinks and a good cooler is required for this purpose “Drinks cooler” play plays a big role in managing the drinks for both domestic and commercial purposes and serves the consumer in more than one way.
Applying market segmentation, targeting, and positioning to the marketing of “Drinks cooler”
Segmentation
Segmentation of the market for the sale of the “Drinks Cooler” is crucial to promote the product. It is the division of the market into segments of people having common characteristics and needs to allow for tailoring the approach to give to the market and the needs. It is divided into four dimensions, these are demographic, Geographic psychographic, and behavioral.
Demographic segmentation
It depends on personal attributes like gender ethnicity, age, marital status education, and occupation among others. The “Drinks Cooler” will attain its highest sales if it focuses on attributes such as age, occupation, and marital status among others. The best market for the cooling of drinks and food relies on personal cooling, social status, occupation, age among others. The major segments in these categories are like the married as segment A and single B, mature age people as B and elderly as C and young as A.
Geographic segmentation
The segmentation in terms of geographic location will be focusing on majorly temperatures of the locations in which to market the product. Other factors such as economic status, development, technological, and tastes concerning the geographic location will also be important. The segments, in this case, will either be, hot regions as segment A, averagely hot as segment B, most developed as segment A developed as B, and least developed as C among others.
Psychographic segmentation
The market can be segmented by personalities like lifestyle, risk aversion, and values. Some people do not like cool drinks while others do and this is either affected by lifestyle, values among other things. The segments for “Drinks Cooler” under this category are like highly-styled groups as the segment A and less styled segment as B. among others.
Behavioral segmentation
The behavioral segmentation is defined by how the users use the “Drinks Cooler”, loyalty and how it will benefit them. More frequent users can be categorized under segment A and less frequent users as B. loyal users will be categorized as A and less loyal users as B
Targeting consumers
Depending on the demarcated segments the company then decides on how to contribute towards the segments and make use of the most attractive segments. Targeting of the segments will view the probability of making many sales, profitability, and identifying the niche in where to best focus on to get the best sales.
For the Geographic segmentation, the sales will focus on hotter areas and the more developed areas. For the demographic segmentation, the marketing will focus on the married and the mature people who are generally active and require more energy from drinks or require the “Drinks Cooler” for their families. For psychographic segmentation, the marketing will focus on the marketing will target the stylish and the more positive individuals. Finally, for the behavioral segmentation, the marketing will target the more frequent drinkers or more frequent buyers of refrigerators.
“Drinks Cooler” positioning
To achieve the goal after targeting the customers, product positioning does it all; by making the communication reach the consumer and convincing them to go for the product. A serious analysis of whether prospective consumers are aware of the product is important if communication is to take effect. A selling proposition is then drawn for communication and then a positioning map is made using the targeted consumer awareness. It defines the positioning of the product to the consumer. the “Drinks Cooler” features are to be defined and the uniqueness of the product be made clear to the consumer before approaching.
Looking at the needs of each segment together with their behavior and responses, a clear value proposition is made either on the prices, complexity, functioning, and size of the “Drinks Cooler” is suited to match their needs. An explanation of how these properties will solve their needs is well captured. An example is a larger size and more complex “Drinks Cooler” for hotter areas or larger families for example. A smaller or cheaper “Drinks Cooler” for smaller families or singles can be used. A marketing campaign is then designed for each segment to communicate the needs of the consumer and hoe “Drinks Cooler” satisfies the need. For example, a larger size for the hotter areas to store more drinks or a larger family to accommodate everybody.