Introduction: In phase II of our marketing plan, Pepsi is consistent in introducing a new product and service that will easily outsell its competition. In achieving this goal, marketers have defined critical factors that will determine the buyers and consumers of our product. In creating an effective marketing strategy, Pepsi will address key characteristics that effect the decisions and purchasing power of consumers that involve market segmentation, organizational buyers/consumers, influences and purchasing decisions, competitors and landscape of our product offering.
Market Segmentation: The purpose for segmenting a market is to focus the market plan on the target group that is most likely to purchase the product offering. If the segmentation is done properly, it will help ensure the highest return for the company's marketing and sales expenditures. Specific distinctions need to be considered when defining market segments.
The initial segmentation is to establish a category of need that Pepsi's natural fruit juices satisfy.
Does Pepsi's product satisfy social esteem or pleasure? Or does the product satisfy a functional requirement of the consumer? Pepsi's new natural fruit juices meet a functional requirement of the consumer.
The next step is to establish what need the product would fulfill and who is most likely to experience that need. Pepsi's natural fruit juices fulfill the need to be involved with a social trend. That social trend would be weight loss and health concerns. Another need these fruit juices would fulfill would be a specific need. That specific need would be individuals who are interested in eating, drinking, and living in a more healthy way.
Now that a general target population has been established a more detailed market analysis may be performed. Literally thousands of ways exist to segment a population; this paper will look at several more typical segmentation categories that could apply...