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P5 Unit 3
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Essay of 2 pages for the course Unit 3 at Deltion College (P5 Unit 3)
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P5What is market segmentation?
All markets can be divided up into segments, and many marketers use the analogy of an orange being
made up of a number of segments. Each segment has its own distinct profile which is defined in terms of
a number of criteria, referred to a large identifiable group within a market, with similar wants,
purchasing power, geographical location, buying attitudes or buying habits.
How to segment a market?
Segment marketing allows a firm to create a finer tuned product or service offering and to price it
appropriately for the target audience. Segmentation therefore, allows organisations to develop products
and plans that fit the needs if customers more effectively, thus increasing overall demand. Once the
segments in a market have been discovered, the next step is to identify ones where the needs and wants
of the consumer can be met by the organisation. An organisation may not have the resources to target
every segment, or it may feel its expertise and resources are only relevant to one or two of the
segments.
Coca cola
Coca Cola Company is the world’s leading manufacturer, marketer, and distributor of soft drinks. Coca
Cola uses "Multisegment" targeting strategy which means that the company has more than single, well-
defined, market segment. It develops a marketing mix for each of the segments. Coca Cola has more
than 400 different products line, total of 3,500 product mix.
Geographic segmentation
Coca Cola has drinks that targets different age groups, ethnic groups, sexes, lifestyles, etc. Examples:
- Oasis, Juice made for the younger working adults, between the ages of 20-30. The product is
available in different flavors (berry, lemon, and orange tangerine). It’s mostly popular in Britain
and Ireland.
- Coca Cola, the most popular soft drink so far that being sold in most countries in the world. The
large demand for its taste and the trend toward healthier lifestyle influenced Coca Cola to
produce healthier products such as Coca Cola Zero, Diet Coca Cola, and etc.
- Coca Cola Zero, targets teens that don't want calories but want the taste.
- Diet Coca Cola, targets adults, between 30-50 who are health conscious but want the taste.
- Powerade- sport drink, targets athletes between 13-27 ages.
- Minute Maide, targets kids and adults from 1 year to 10 and 40 plus. It’s convenience to carry. It
targets parents that want their children to drink healthier drinks.
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