Explain market segmentation

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Reference no: EM132170744

Scenario

A company with many years of experience in manufacturing chocolate wants to launch a new premium product line of self-heating chocolate and coffee beverages. The company has undertaken extensive taste-testing to come up with a unique range of flavours: (i) ‘raspberry & chocolate’, (ii) ‘hazelnut & coffee’, (iii) ‘toffee & coffee’, and (iv) ‘nightblazer’ which is blend of chilli, chocolate & caffeine. These premium products will cost RM 9.50 per can and will be sold from specially designed vending machines.

Explain market segmentation and then describe what segmentation bases you would use to assist in identifying the primary target audience for this range of beverages. You are required to use at least two (2) segmentation bases and to justify (explain) explain your choices.

Part B. What two (2) types of reference group appeal would you suggest that the company consider using in their 2014 media campaign? You must explain your reasons and illustrate your answer with examples.

Reference no: EM132170744

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