Target Market - Describe the target market using market dimension variables. These are segmentation variables such...

Target Market - Describe the target market using market dimension variables. These are segmentation variables such as demographic, psychographics, behavioral or geographic. Only two or three sentences to precisely describe the typical user using these variables. Explanation of the need that this product fulfills as it relates to specific target market. Is it a “Me Too” imitator? How is it different from other product brands in the. This should also include the product positioning. Kellogg Frosted Flakes cereal as the product.

Expert Solution

Target market is the market which the product is eyeing. The potential customers live in the target market and product can be sold in target market only. Segmental variables of target market of Kellogg Frosted Flakes cereal are as follows

Demographic- This product is consumed by all groups of population except infants, but most purchasing decision is taken by the important household members. Demography is according to age, geography, occupation etc. For this product demographic segmentation will be head of the household, people in the age group of 16-59.

Psychographic- It is the segmentation of the market according to personality traits, values, attitude and lifestyle of the consumers. For this product psychographic segmentation will be targeting customers on the basis of their lifestyle. Middle income people prefer this product most because of its cost and attributes. Kellogg should target middle class family for this product.

Behavioral- It is segmentation of market based on behavioral pattern of the customer. Through this customer can be divided as frequent buyer, loyal customer, occasional buyer etc. Kellogg should target more for the frequent buyer and loyal customer because these groups generate more revenue for the company by increasing volume of sales. For occasional buyer and casual walk in customer different strategy should be devised to convert them into loyal customer.

Geographic- It is segmentation of market based on the geographical localities like countries, region, states, cities etc. Kellogg should segment the target market based on states in US, major cities in each states etc

keosha answered 1 year ago

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