The Segmentation, Positioning,targeting Of Coca Cola – Coursework Example
THE SEGMENTATION, POSITIONING, TARGETING OF COCA-COLA The Segmentation, Positioning, Targeting Of Coca-Cola Market segmentation
Market segmentation involves dividing the larger market into smaller units in order to choose one which a company’s product (S) can serve best (McDonald & Dunbar 2012). The Coca-Cola Company uses numerous approaches to segment its soft and energy market. The company has used a number of segmentation variables such as income, age, and health among others. For “Nuve”, the company will focus on sports people such as athletes and footballers among others.
Through market segmentation, companies are able to clearly define which of their products is suitable for which segment of the market (Ferrell & Hartline 2012). Though Coca-Cola has no obvious segment targeting, the company usually develop new products that suit the needs of its overall market. In most cases, targeting is done on the basis of age, lifestyle, and occupation (Proctor 2013). For “Nuve”, the company will target on the basis of occupation. The company will mainly focus on this segment and present “Nuve” as the ultimate answer to energy restoration for sporting family.
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Coca-Cola has established itself as one the most popular brands in the world. The company has strategically placed itself on top of other competitors in the global soft drink market. Since its establishment, the company’s success has been attributed to robust marketing. Coca-Cola invests heavily on advertisement to position its products in the market (Michman, Mazze & Greco 2003). The approach has been so far effective in positioning the company’s products ahead of those of major rivals in the market. For “Nuve,” the company will develop a television commercial portraying the effectiveness of the new energy drink for sports people, using popular sports personalities such as Lionel Messi, Usain Bolt, and Kobe Bryant among others. Also, the company will uses major sporting events such as Olympics and soccer world cup among other sports events to promote “Nuve”.
Ferrell, OC & Hartline, MD 2012, “Marketing Strategy, 6th Ed,” Cengage Learning, Mason, OH.
McDonald, M & Dunbar, I 2012, “Market segmentation how to do it and how to profit from it,” Chichester, John Wiley & Sons.
Michman, RD, Mazze, EM & Greco, AJ 2003, “Lifestyle marketing: reaching the new American consumer,” Praeger, Westport, Conn.
Proctor, T 2013, “Strategic Marketing: An Introduction,” Routledge, New York.