Contents Category | Page | | | Introduction | 3 | Terms Of Reference | 5 | Micro and Macro Influences | 6 | Segmentation and Targeting | 8 | Market Plan ProductPricePlacePromotion | 10111112 | Conclusion | 13 | Recommendation | 14 | Bibliography | 15 | Appendix 1 | 17 | Appendix 2 | 20 |
Scott Snacks Limited (SSL) is a private limited company that manufactures and markets “Muckle Chips”. The company is owned and managed by Scott Mackie. He fashioned this product when he recognised that there was a gap in the market for “for one” size bags of their crisps, and that his product could do well in this marketplace. SSL have a small factory in Scotland, outside …show more content…
Market Segmentation and Targeting
A market is any place where individuals, or businesses, come together to trade goods, services, and currency. Segmentation is the act of dividing that market into subgroups. These subgroups, or segments, contain individuals, or businesses, who share certain characteristics to those in their segment, and are different to those in other segments. Segmentation makes it much easier to market a product, and is the first stage of the Targeting Market process.
This process makes these consumers more recognisable, and can be used to create categories. One such category that could be used is demographics, which could be their age and gender. Another segment is geographics, which is the location they currently reside in, and the differences within those areas. Behavioural segmentation defines and creates an understanding in how consumers react and respond to products. Psychographics is what makes consumers purchase goods and services, or the motivation