Outline and discuss the market targeting strategy that you would recommend Snazzy implement for its new line of energy drinks. Provide rationale for your strategy choice.
My recommendation for Snazzy Sodas is targeting a market niches in other words demographic segmentation. Companies such as Snazzy, which is limited with resources might decide to serve only a few special segments. As many competitors overlook or ignore this segments. The niches market for Snazzy’s energy drinks are a group of people, more specifically male teenagers and people in their 20s. As they are more susceptible to fatigue, over-worked lifestyle, persistent to exhaustion and insufficient energy. Energy drinks such as Snazzy’s is a product that is suited for this particular niches market, as it is more appealing and prove beneficial to the individual.
In addition to centering on a particular age group, Snazzy’s energy drink can be more exclusive in their marketing efforts, by focusing their products and advertising to attract to very dedicated groups, such as sports fanatics, pro-gamers, and hip-hop groups. As Snazzy Energy drink is a new trendy product that emphasis on their originality and differentiate from others.
The Energy drink itself can also focus on groups of people that believe in environmental efforts. As Snazzy Sodas promote a variety of all- natural sodas and its efforts towards social responsibility. The company itself has a good credibility, therefore it is recognise as a eco-friendly company. This can attract many people that believe social responsibility and the product may be appealing to those particular crowd.
Explain the consumer behaviour characteristics that are likely to influence consumer purchases of this new product.
The behavioural characteristics for people that would buy Snazzy energy drink are people with socio demographic characteristics, jock identity, masculine norms, and risk- taking behaviours. As most energy drinks target young males and teenagers. These characteristics are likely to influence consumer’s decision in purchasing the product. The purpose of energy drink is to provide energy for the individual itself. As the main substance for any energy drink is guarana. This product has a benefits sought, which consumers benefits from purchasing the product. In this case the product can help energize the individual, therefore it attracts people with over-worked lifestyle, persistent to exhaustion and insufficient energy. Youngster in today society are very outgoing, therefore they are more incline to purchase an energy drink to provide that extra kick in their system.
Armstong, G, Adam, S, Denize, S, Kotler, P 2012, ‘Principles of marketing, 5th edn, Pearson, Frenchs Forest, NSW, (p.g. 187-201).
Wikipedia 2011, Consumer behaviour 2011, viewed 9 April 2013, .