Market Segmentation And Targeting Guide

Describe the marketing concept

The purpose of this report is to present an analysis of customer base to determine the market position of the Australian cake shop, Bourke Street Bakery (bourkestreetbakery.com.au, 2018).  It will discuss the consumers’ involvement into the newly proposed business plan by evaluating situational, psychological and social influences on their purchasing behaviour. From the first part of the assessment, a clear idea of the market has been obtained. According to Andreasson and Johansson (2014), the bakery wants to include soy protein as the main ingredient of bread making, considering the increased consciousness of people towards health and fitness. This report intends to analyse consumer behaviour creating one buyer persona at least and will talk about different segmentation variables. Besides, a positioning map will be included along with a distinct positioning statement.

Purchase decision is directly connected with the consumer involvement. There comes product involvement, which can be increased by advertising campaigns. In this case, the unhealthy lifestyle of Australian population and global issue of obesity and heart diseases are responsible for consumers’ preference over consuming healthy foods [kindly find the appendix].

People consider normal decision-making process when it serves basic needs of daily life. In order to understand the consumers’ attitude towards the newly planned product, as described in Dewey (2013), it must be understood that purchase cannot occur without recognising the requirement of the target market. The focus is to treat global issue of obesity and several health hazards like diabetes and high cholesterol. Breads with soy protein will satisfy nutritional need of family. The management must invest on marketing campaign and recruit efficient marketing managers and executives to circulate product information among the consumers to get the desired outcome in terms of profitability and sale. As per the reading of McKinley and Wright (2014), customers can access all the available information on product and nutrition virtually and compare with the other products too.

In the process of limited decision-making, like the first one, consumers consider limited alternatives before buying. It depends all on consumers’ attitude, as involvement will be high only when soy protein infused bread is capable of satisfying their health needs. Before, purchasing consumers will gain knowledge from the packaging and advertisements.

Finally, extended decision-making is where consumers engage themselves into detail research. AS per the information and market, review a customer would buy the bread if not influenced by the negative comments or financial restrictions. In this case, post purchase behaviour is important because positive results help to retain and involve customers. High level of involvement can be seen here.

While segmenting the protein infused bread, three major variables age, eating habits of the Australians and urban lifestyle must be considered.

Probable segments for the campaign are:

1. 10-16 years of children coming from families who are health conscious and particular about healthy diet.
2. Fitness enthusiasts and sportsperson within the age limit of 16-35 year old females and males of 16-45 years opt for healthy substitutes.

• 35-50 years of both males and females can have protein breads as it satisfies nutritional needs of old age and help to keep control on several physical complications.

1. Financial boundaries are less, as it is affordable for all kinds of income group.
2. Both male and female who are interested in experimenting with new recipes and like to explore native food items of bakery are potential consumers of soy protein infused bread. In this case, people from 18 to 40 years of age generally like to consume innovative food items.
3. As suggested by Steinberg et al. (2015), people who are of 35-55 years of age, suffering from health hazards due to old age are consumers of soy bread.

• Vegetarian people can eat this bread too as it is completely vegan and egg protein has not been use as ingredient.
• According to Dussaillant and Fernandez (2015), Australia is suffering from degrading health conditions among people who are addicted to alcohol and other intoxicating elements. In this situation, they are suggested to maintain a healthy diet. Soy protein bread is for them as well.

The most profitable target for this product would be 16 to 45 years of people who love to have delicious bakery items and fitness enthusiasts at the same time. Family members can influence and sponsor their decision too (Whitworth & Gates, 2013). This segment contains over 256,000 customers who are conscious about their appearance, maintain workout regime, have a special liking for bakeries and innovative food items.

“To all the fitness enthusiasts, health conscious, gym freaks and mothers who are worried about children’s nutrition, Bourke Street Bakery presents new soy protein infused bread to maintain the balance of diet plan amidst of busy lifestyle, as it serves nutritional benefits and does justice to your taste buds as well on a regular basis.”

Figure 1: Positioning Map

(Created by Author)

Conclusion

This paper has suggested market segmentation and targeting guide analysing the potential consumer base. As per the competitors analysis a positioning map has been included to understand the current market condition. It will help to frame marketing strategy.

References

Andreasson, J., & Johansson, T. (2014). The fitness revolution. Historical transformations in the global gym and fitness culture. Sport science review, 23(3-4), 91-111.

Bellaio, S., Kappeler, S., Rosenfeld, E. Z., & Jacobs, M. (2013). Partially germinated ingredients for naturally healthy and tasty products. Cereal Foods World, 58(2), 55-59.

bourkestreetbakery.com.au. (2018). Cake Shop & Bakery Café In Sydney – Bourke Street Bakery. Retrieved from https://bourkestreetbakery.com.au/

Dewey, K. G. (2013). The Challenge of Meeting Nutrient Needs of Infants and Young Children during the Period of Complementary Feeding: An Evolutionary Perspective–3. The Journal of nutrition, 143(12), 2050-2054.

Dussaillant, F., & Fernandez, M. (2015). Alcohol’s harm to others’ well-being and health: a comparison between Chile and Australia. Alcohol and alcoholism, 50(3), 346-351.

McKinley, C. J., & Wright, P. J. (2014). Informational social support and online health information seeking: Examining the association between factors contributing to healthy eating behavior. Computers in Human Behavior, 37, 107-116.

Steinberg, S. I., Sammel, M. D., Harel, B. T., Schembri, A., Policastro, C., Bogner, H. R., … & Arnold, S. E. (2015). Exercise, sedentary pastimes, and cognitive performance in healthy older adults. American Journal of Alzheimer’s Disease & Other Dementias®, 30(3), 290-298.

Whitworth, M. B., & Gates, F. K. (2013). Measuring and addressing texture challenges in healthy baked products. Cereal Foods World, 58(3), 120-125.

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