SEGMENTATION, TARGETING, and POSITIONING
Select a conglomerate or group of companies such as Grace Kennedy and identify the segmentation bases and variables applicable for three (3) different products or companies within the Group. Recommend appropriate target marketing strategy for these products/companies. Identify the relevant USP being touted by each product and write a positioning statement for each product/company.
i) In order to expose consumers to Grace Caribbean to new products, Grace has brought a series of quantitative and qualitative studies to the customers.
ii) They identified the potential positioning opportunity in the market.
iii) The single-serve juice was the most promising concept, anytime Grace conducted the taste test among all the other products.
iv) In conclusion, the concept and taste testing were conducted in an export market to identify opportunities by stimulating market testing.
i) consumer familiarity
ii) Build awareness
iii) Equity to an existing product
iv) Extend existing product line
Using the data from the tasting into Tropical Rhythms brand with Copernicus providing positioning, advertising, and targeting, Grace built the single –juice concept.
Specifically, among key target segments, repeat scores and trials were importantly higher than the average new beverage product.
The strategic choice was based on the positive reaction to the concept; to a thirst-quenching with genuine fruit taste.
The product aims at winning the Canadian Grand Prix New Product Award, this is due to its quality and satisfaction to the customers.