Provide an analysis of the segmentation, targeting and positioning Essay

Provide an analysis of the segmentation, targeting and positioning strategy of a brand of your choice. Within your analysis you - Essay Example The STP strategy of Coca-Cola BlaK Segmentation strategy Coca Cola BlaK has been one of the major designs that Coca Cola developed to recover its declining sales during 2005. The BlaK drink was not only a flavour extension, but rather a stimulating blend of variety of coke refreshment, with quality coffee essence and lightly carbonated with an aim to appeal to adult consumers (singleservecoffee.com, 2006). The company targeted a specific segment for marketing BlaK, comprising of adult, 30-over savvy sophisticated achievers. Segmentation is a company’s key marketing dimensions to set strategic framework and are marketing processes used to identify the right customers of a company (Bygrave and Zacharakis, 2010, p. 170). Almost all companies segment its markets, breaking down the total market of a product or service in to distinct sub-groups (Lancaster and Reynolds, 2001, p. 68) such as Geographical (region/population density), demographic (age, sex, marital status, socio-economi c status, social class, religion etc), psychographic (life-style, personality, self-image etc) and behavioural (rate, volume, occasion, brand loyalty) (Stone and Desmond, 2007, p. 175). When it comes to the case of BlaK, the company identified an opportunity for BlaK from various regions including US, France, Spain, Czech Republic and later in Canada and UK. Demographically, its market was high-class, sophisticated achievers (Farr, 2007). The example of BlaK cola shows that extensive research often requires for an effective segmentation and targeting. As Loudon, Stevens and Wrenn (2004) pointed, a highly customized method of segmentation based upon extensive research and up to date data requires a high degree of expertise in research (p. 33). Coca-cola company has invested heavily in researches during 2002 about users and their perceptions of coke products. This research brought the significance of coke for adults who are between 30 and 50 age savvy people who are less likely to use Coca Cola’s other brands. The company executives thus thought to develop a unique drink merging ordinary coke with an energy drink or coffee essence aimed at adults over 30 savvy people (Wilbert, 2006). This research helped the company identify a hidden market opportunity and find a market segment which was until then left-untouched. Targeting Strategy Coca-Cola company targeted mainly the male demographics with ingredient of coffee essence. The Coca Cola BlaK was appealed mainly to older, more sophisticated and over-30 customers who are likely to spend more (Lamb, Hair and McDaniel, 2008, p. 258). A marketer may target a group of people or organizations by designing, implementing and maintaining a market mix in order to meet the needs of that specific group (Lamb, Hair and McDaniel, 2008, p. 220). When it comes to BlaK, the research conducted by Coca Cola found that there is an opportunity for a drink, being made quite unique with additional coffee essence, targeted for mal e-adults who are over-30 savvy and sophisticated achievers. the target was thus very specific. When a specific group is targeted, various marketing mixes like price, product, place and promotion can be developed according to the needs, behaviour and specific requirement of the targeted group. Ferrell and Hartline (2008) emphasized that a firm can adopt any or more