American Intercontinental University
Unit 2 Individual Project
MKTG 205 – Principles of Marketing
November 30, 2014
This is a single paragraph, no indentation is required. The next page will be an abstract; “a brief, comprehensive summary of the contents of the article; it allows the readers to survey the contents of an article quickly” (Publication Manual, 2010). The length of this abstract should be 35-50 words (2-3 sentences). NOTE: the abstract must be on page 2 and the body of the paper will begin on page 3.
Creating a marketing program is tantamount in today’s business world. Segmenting your consumers into groups to figure out what your target market is would be the first part of creating a marketing program and strategy. This will maximize a business’s ability to provide the best; most used, and highly demanded services and products to its consumers.
Definition of the Segmentation Bases
Market segmentation is separating people into different groups in order to get a better idea of what they may want or need. This allows a marketing strategy that can better target what a company needs to do to attract consumers to their product. There are four basic segments: geographic, demographic, psychographic, and behavioral. These terms are identified and described below.
The geographical segment categorizes people into groups that are located in the same region, or media outlet area. This segment is area specific, it is where people live and work.
The demographic segment groups people by a physical objective. Some characteristics of this segment include race, age, gender, and income levels.
The psychographic segment is grouping people by a mental or emotional attribute. It would include things like personality, lifestyle, values, and needs. (Kerin, Hartley, & Rudelius, 2013)
The behavioral segment is a grouping of people by buying behaviors. It includes where people buy, why they buy, what they buy.
Description of Each of the Target Markets
JTA Foods can segment its consumers into behavioral and geographic segments. This is the company’s first step in making a marketing program. Grouping people will help the company decide what to produce, what price to sell it, how to package it, and where to place it.
Based on your segmentation, describe each of the target markets that you would seek to reach. Explain why they will be the most profitable for your product/service
Analysis of Two Competitors and their Positioning
Aldi’s store positions themselves by price, quality, and consumer safety by stating: “We promise our customers quality products at the best possible price. Our suppliers realize this and we work closely together to achieve a shared goal of putting our customers first. ALDI promises its customers quality products for the best price. Our understanding of product quality includes consumer safety, health and well-being.” (Aldi, 2013) The Aldi stores have locations near JTA Foods and are a larger chain store that has the ability to offer a much better savings on a wider variety of products.
County Market, another chain grocery that is located in several cities near JTA Foods gives back to the community and displays the amount of donations they have made stating: “While these numbers are impressive, it is often what our stores do every day that make a direct impact on people's lives and the projects they care about. Providing chips for a cancer benefit or water for a charity walk are just two examples of what so many of our stores are doing every day in countless towns and cities.” (County Market, 2010) County Market is a larger chain store and has the ability to offer several coupons and promotional offers. Their website has several options for consumers to sign up and get coupons, recipes, and several different options to order items online.
Analysis of Competitive Advantages
One thing JTA Foods could do to differentiate itself from Aldi…