Monday, May 2, 2011

chapter 8- segmenting and targeting markets

When a company has few products the ability to satisfy a diverse and wide range of clientele is limited. The coca-cola company has increased the quantity of products they offer throughout the years and are constantly searching for new opportunities. Each product the company offers attracts a market segment, which means they appeal to a certain kind of people; some of the products are directed to very specific market segments such as diet cola, which is directed for consumption by women, and cola-zero which targets the market segment of males belonging to generation y. other products appeal to a less specific market segment such as the classic coca-cola which is loved by a wide range of very diverse consumers. In the world of business companies often try to expand by offering their products to a new segment of customers and in that way they have the benefit of not having to rely on a narrow range of customers.
Coca-cola segments their products succefully because they appeal to identifiable large segments and because of the company’s name and history it is easy for them to access the members of the segments they are trying to sell to. Coca cola also succefully uses benefit segmentation, cola-zero for example appeals to the consumer’s desire also because of the known benefits of the product to the consumer.  

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