Free Essay Sample on Targeted Marketing and Marketing Concepts

Published: 2022-03-09
Free Essay Sample on Targeted Marketing and Marketing Concepts
Type of paper:  Essay
Categories:  Marketing
Pages: 4
Wordcount: 879 words
8 min read

Question 1: Targeted Marketing

Each market consists of various groups of consumers with different wants, needs, and preferences. Thus, breaking down such a target market into small segments, depending on their specific characteristics, is essential to ensure a business uses promotional strategies and marketing mixes that best fit that target market. A "farm to table" restaurant is not exceptional to this perspective since different consumers have different preferences and tastes relating to food. Thus, the restaurant should develop different marketing strategies to target the diverse market segments at its disposal. Therefore, this section seeks to determine how a "farm to table" restaurant should target these market segments through the consumer research process.

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First, the restaurant should develop research objectives. Such objectives can include identifying the market segments in the locality, to establish the likes and dislikes of the consumers, and to find out the consumers' characteristics and influences. These research objectives help the restaurant to define the type and level of information required to target the different market segments. Once the restaurant knows the necessary information needed, it should then gather secondary and primary data using relevant sources and data collection methods. The sources of secondary data can include internal data of the restaurant such as sales reports and external data such as Consumer Generated Media (CGM), published marketing research reports, and the internet. In this stage, the restaurant should evaluate the reliability, adequacy, and suitability of the secondary data before using it.

If the secondary data is insufficient, the restaurant should conduct qualitative and quantitative research to collect primary data through interviews, projective techniques, observation, questionnaires, and surveys. For instance, an observational study can help the restaurant understand the relationship between the consumers and the different dishes by observing them while consuming the food. Similarly, surveys and interviews can enable the restaurant to interact with consumers directly to obtain facts, attitudes, and opinions regarding their different meals.

Once all the data has been gathered, compiled and tabulated, the restaurant should analyze it using various statistical techniques such as percentages, multivariate analysis, regression analysis, and measures of dispersion. The review will enable the restaurant to conclude, make appropriate inferences and decisions regarding the different marketing strategies to use to target the various market segments. For instance, the restaurant can decide to use social media platforms such as Facebook, Twitter, and Instagram to target the young generation or coupons such as buy three plates get one free to target families. Therefore, the characteristics of each market segment determine how the restaurant will target it.

Question 2: Marketing Concepts

Honey Nut Cheerios, Frosted Flakes and Honey Bunches of Oats are brands of breakfast cereals manufactured to three different cereal companies. These companies have accomplished strategies of market segmentation, positioning, motivation, brand personality, and product differentiation efficiently although they exhibit differences in those approaches. Regarding market segmentation, Honey Nut Cheerios targets White, African American and Hispanic families with four or more people in the family. The most preferred ages are 18-44 although it includes younger children of ages 6-11 years because the more children a family has, the more likely it will purchase the Honey Nut Cheerios. Frosted Flakes mainly targets children with all its packages containing child engagement features. Evidently, it differs from Honey Nut Cheerios in that it is more specific to its target market segment. On the other hand, Honey Bunches targets a market segment of people of ages 17-50 years. Evidently, unlike Honey Nut Cheerios and Frosted Flakes, Honey Bunches target market segment is broad.

Regarding positioning, these brands capitalize on a benefit that serves as the point of difference. A brand can prefer a benefit that reflects an existing consumers' belief. For instance, Honey Nut Cheerios is positioned on the consumers' belief that honey is more nutritious than sugar. Unlike Honey Nut Cheerios, Honey Bunches of Oats is a brand positioned on the healthier end of the spectrum although it uses honey as a sweetener too. On the other hand, Frosted Flakes uses displays to gain its positioning in the market. In particular, Tony the Tiger is the focal point that the cereal uses to gain the attention of children, who comprise its primary target market segment.

The motivation or need recognition is the initial step in consumer buying behavior. It occurs when a customer discovers an unmet requirement that must be fulfilled. Honey Nut Cheerio's motivation was the need for less sugar consumption that would lead to high obesity levels among cereals consumers. Thus, it low sugar levels and whole grain aspects appeal to the market segment that is focused on healthy living. However, Frosted Flakes is motivated by the nutrition recommendations that a good breakfast should supply approximately a third of one's daily nutritional needs. Thus, Frosted Flakes seeks to attain this by availing up to 25% of the recommended daily levels of essential nutrients. On the other hand, Honey Bunches of Oats boasts on low calories as it offers 33 grams of whole grain per serving and 12 vital vitamins and minerals.

Finally, regarding brand personality, each brand of cereal uses a unique set of human characteristics to which consumers relate. Honey Nut Cheerios uses the mascot bee as its character while Frosted Flakes uses Tony the Tiger. However, Honey Bunches of Oats does not have a brand personality.

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