Segmenting and targeting the marketing
This report is prepared by the company known as Mondelez International Australia. It is food and Beverage Company, and it is an international company. It was established by the name of modules International in the year of 2012, and firstly it’s was a national dairy corporation and was founded in the year of December 10, 1923, by Thomas.H.Mclnnerney. It has almost got 1, 05,000 employees working efficiently. The overall study is made keeping in mind the view of the marketing analysis and its prospects of the business. The overall marketing strategy has been decided in this assignment. It has also been discussed the internal and the external policy of the firm. The marketing head of the company prepares the strategically plans of marketing for the proper growth of the firm. The marketing manager or head of the company also makes the planning for the new product line and its orientation in the target market. As we know that the business depends on its marketing plans and its programs, so it’s necessary to optimise the functions correctly in an organised manner. So this report is prepared by keeping all the information and data’s regarding marketing (Kirwan, 2011).
Segmenting
Segmentation and targeting the market is interlinked and almost the same procession the modern days of marketing. The primary step involved in the promotion of a product is segmentation. It is a small unit within the broader market by the same minded group of individuals. It mainly divides the larger market into the small parts consisting of the people, who all thinks positively of the business towards the similar brands and products (Lee, 2010).
Target marketing describes a concept of marketing which is very much helpful for the marketers so that they can divide the markets of the larger units into, the smaller units composing of the same minded individuals. It helps the market segmentation to define different kinds of strategies and technologies to launch different new products in the target market. The group of individuals are interlinked and are of same minded towards different promotional schemes of the similar kinds of goods and commodities (Brenkert, 2008).
It targets the market taking some single point from the segmented market such as income of the people because it depends a lot on the target market because target marketing is mainly done by seeing the standard of living of the customers and their demands for goods and commodities. It differentiates as such a high-income group of people choices high price branded products according to their standards, and the mid-income group people selects the goods and commodities according to their capability. The low-income group people doesn’t go for the branded products or high price products because they are not capable of buying those products according to their choice. This income group of generally refers to the target marketing (Ault, Arnold and Gest, 2010).
Basis of the market segmentation
Gender- The markets have been divided by the marketers based on the groups of genders. As the different genders have got different choices and preferences and thus segmentation in the market is mandatory. As the men don’t purchase the women goods or commodities and vice versa it is required.it sometimes depends on many industries as they produce women products like jewellery, cosmetics, ladies garments, etc (Ruffin, 2002).
Marketing mix
Age Group- Distinction related to the age group is also made it is also an important part of the market segmentation. The distinction is made as such of kinds, teenagers, men’s, etc. For ex – (within 10years) – toys, nappies, etc. (10 to 20 years) – school bags, toys, books, etc. (20years or more) – cosmetics, magazines, etc (Ruffin, 2002).
Occupation- It is also a part of market segmentation as it depends on the profession as it differentiates a school and college students and those who goes for the office. As it depends on a uniform is there for school or college students, and formal shirts or casual t-shirts is there for the office goers (Busch, 2006).
Income- It is one of the most important parts of the market segmentation, as is depends on the different income group of people as they were being categorised as the high-income group, mid-income group and the low-income group of individuals. Accordingly, to the income group, people goes to buy products according to their needs and capability.
Marital status- segmentation of the market can also be done accordingly with the marital status of a person. Such as tourism and travel industries don’t give similar offers to the marrieds and bachelor’s (Kreider and Simmons, 2003).
There are few types of market segmentation which play an important role in segmentation of the market are geographical segmentation, psychographic segmentation and behaviouristic segmentation (Hwang, 2005).
The institution first decides or select a group of individuals who all work efficiently for a particular project. The people of both sexes can’t work for the similar segment. The primary step is to give the focus on the target market. The next process is to recognise the wants and needs of the target market because it is essential to the find out the market that has been targeted. It helps to find out what the market wants from the product. Once it has been fully set, institutions can take steps. Accordingly they can decide for the betterment of different kinds of strategies and technologies to promote their various goods and commodities.sssThis market Mondelez International Australia is a food and beverage company. It has got a focus to the high-income group people or the people with the high standard of living. Firstly the company focuses on the attention of the customers, and so the decorations depend a lot on it. Secondly its concentrates on the quality of products which is very much important to the consumers. Last but not the least it focuses on the service provided by them to the customers on which the goodwill of the company depends. Thus it is a necessary part of marketing and helps to achieve the aims or goals of the business (Doane and Sloat, 2003).
Products: modelled has the huge number of products in the Australian market. In the recent times, they have lots of products because of the merger with the international company Cadbury. After this merger modeless has the power house of product line up (Dominici, 2009). Cash cows have been generated from its products by the Cadbury Company. There is few important business organisation named dairy milk, Bourneville, five stares, perk, Cadbury éclairs. In the segments of the biscuit industry Oreo is the new brand that has been launched in the year 2010. Oreo has covered the 100 cores revenue of business in the world market. The beverage section, there are Bournvita. One of the largest market share holder in milk additives. Another food item is halls, a type of mouth freshener that is work as a remedy at the winter time. Halls used extensively in the every part of the India. Foe these type of products. Mondelez is coming under the leading chocolate brand all over the world (Kong and Baik, 2016).
Price: price is one of the important things that come with the quality of the product. As the increasing product quality, the price gets high. For this reason, the beverage and Oreo belong to the top position for all the time in the market. In the case of Mondelez products, the price is always high due to providing the best qualities of the product to the customers in the world market. Besides all those companies such as the park, five stars, etc. are also follow the rules of fair and reasonable pricing for the customers in the world market but they provide the chocolate products to the customer at very low price (Kong and Baik, 2016). Dairy milk is one of the famous brands which provide chocolate products to the customer at the little amount of price. Dairy milk has they particular position in the market that is another reason of giving all these products to the customer allow price. It is the only the reason of having target segments across the world (McNally, Cavusgil and Calantone, 2010). Cadbury has a huge range of customers across the globe, and they have the different type of products of various price which majorly depends on the type of customers.in the global market dairy milk is the winner forever at the of delivering chocolate related products. The high price is very much high in case of any low variations. Cadbury dairy milk has some product packs for gifting or selling at the higher price to the customers.
Place: here the meaning of place determines the particular region where the products are purchased. Sometimes it is also referred as the distributional channel (THE MARKETING MIX: A REVIEW, 2014). That distribution channel mainly depends on the outlets or shops of that particular business industry. Those shops and outlets are mainly classified into two. These are the physical store, and virtual store, virtual store are like e-mail, e-market where the physical store is supermarket, departmental store, outlets, etc. the most critical phases is to deliver the region of places to the customers. The utility of the places frequently becomes a deciding fact for buying the product among the varieties of products.
Promotion: Promotion is one of the important strategies to increase the product name or sell on the market. Promotion of a product consists of the various type of communicative objects that help to aware all the customers about the products, along with this benefits, ability, and function re-described through this promotion tactics to the target segments. In the field of promotion, there are four different implements- these are advertising, personal selling, sales and promotion and the last one is the public relation (Mittelmark, 2008). Advertising method is mainly used to show the products and its utility, where the sales and promotion often help for promoting a particular product in the market via showing all the facilities and its usages.
Strategic fit depicts the range that organisation like mondelez is matching its wealth and competencies with the changes in the external atmosphere (Popli et al., 2017). Strategic fit is available at the time when various kind of businesses is connected with each other. Different type of activity helped to convey skills to be transform, expertise and promoted when the retailer and the dealers common. Strategic fit is classified into three distinct fires, these are-Marketing fit, Operating fit and Management fit.
Sustainability is the method by which any organisation can manage or handle their economic, social and environmental threats, complaints and scopes. In a business organisation, there are some practices or performances that have the capability of foster the business sustainability. Such as- stakeholders engagement, reporting and disclosure, life-cycle analysis and environmental management system (Acknowledgement to Reviewers of Sustainability in 2015, 2016).
Commercial Ethics discusses to the principles productions would spectator in their connections over and overhead acquiescence with the literature of the commandment. Business ethics covers subjects for example fair transactions with the work energy, clienteles, dealers and contestants as well as the influence of business doings on community fitness and the environment (Dicks, 2017). It suggests that while manufacturers should maximise proceeds, they would preserve a good standing and principled moralities that will not fight with the goal of revenue expansion (Oh and Cha, 2017).
Conclusion:
This report is consists of a brief introduction on suggested company mondelez international. Mondelez is one of the highest position holder business industry of Australia. In the first paragraph of this report, there is the brief description of the Mondelez Company. This total assignment is consists of STP strategy, product strategy, pricing strategy, distribution strategy and marketing communication strategy along with the strategic fit of the mondelez organisation Main motive of this assignment is to prepare a marketing plan as per the situation analysis of Mondelez Company.
References
Acknowledgement to Reviewers of Sustainability in 2015. (2016). Sustainability, 8(2), 103. https://dx.doi.org/10.3390/su8010103
Dicks, H. (2017). Environmental Ethics and Biomimetic Ethics: Nature as Object of Ethics and Nature as Source of Ethics. Journal Of Agricultural And Environmental Ethics. https://dx.doi.org/10.1007/s10806-017-9667-6
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Popli, M., Akbar, M., Kumar, V., & Gaur, A. (2017). Performance Impact of Temporal Strategic Fit: Entrainment of Internationalization with Pro-Market Reforms. Global Strategy Journal. https://dx.doi.org/10.1002/gsj.1160
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