Pepsi and Market Segmentation
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I need help with the questions below. Please explain in at 250 words for each question so I understand the concepts of segmentation. I believe if I can grasp the concept, I can write about the topic. This is about Pepsi Cola (soft drink) targeting the market within the U.S.
Which variables should your firm use to segment its target markets?
How can your firm evaluate the attractiveness of each identified segment?
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Solution Summary
This detailed solution explains the variables Pepsi Cola (soft drink) should use to segment its target markets and how Pepsi Cola can evaluate the attractiveness of each identified segment. Includes APA formatted references.
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Hope this helps. Please let me know if you have any questions.
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Which variables should your firm use to segment its target markets?
In order to segment its target markets, Pepsi should determine how its' cola is perceived different customers. This will involve determining the consumer needs and behavior toward the product. It also takes into account demographics, geography, and socioeconomics. To do this, Pepsi must understand who their customer is and how these consumers perceive and use the product. For instance, the company can segment its market into the following segments:
1. Traditional Pepsi drinkers. This is the group of consumers who have been drinking Pepsi for a long time. They grew up drinking Pepsi. It is "their" brand. Buying Pepsi is a habit for this group.
2. The Value shopper. This is the group of consumers who want a name brand soda pop and are going to purchase the one that is the ...
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