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Kraft Tiger Market Analysis - how Kraft Tiger uses market segmentation in Singapore.

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Introduction

Table of Contents Page 1.0 Situation Analysis 1.1 Current Product 1.2 Current Pricing 1.3 Current Distribution 1.4 Current Promotion 2.0 Segmentation Theory 2.1 What is Market Segmentation 2.2 Benefits of Using Segmentation 3.0 Target Market Identification 3.1 Geographic Segmentation 3.2 Demographic Segmentation 3.3 Psychographic Segmentation 3.4 Behavioural Segmentation 4.0 Completion of Discussion/Rationale of Target Market Images Chosen Table 5.0 Reference List 2 2 3 4 5 6 6 7 8 8 8 9 10 11 15 1.0 Situation Analysis 1.1 Current Product Kraft Tiger Energy Choc Biscuits (Kraft Tiger) generates various benefits for its consumers. Firstly, the product provides a variety of nutritional values, which contains a plethora of vitamins and minerals, so-called the 'ENERMAXX', which is a combination of 9 vitamins and 6 minerals, including vitamin B1 and B2 that helps in releasing energy and thus gives the consumer extra energy in doing their activities (Animetric's World, 2009). Secondly, as a convenience goods, the product could fulfills the consumer's crave for snacks. Kraft Tiger has several distinctive features in its packaging and labeling that makes it different from the others. The first one is the train picture at the back of the package, the second one is the 'ENERMAXX' logo, and the third one is the picture of the biscuit itself at the front, with the biscuit colored in brown to indicate the flavor. Given the three visual attributes mentioned above, consumers could tell the difference of Kraft Tiger from the other products right away, and also from the products of the same product lines (and brand). Features and attributes that Kraft Tiger has include the halal logo and the red color of its packaging. Halal logo is a pre-requisite for any retail products within Singapore, in which there are a substantial amount of Islam adherers, it means that the product has passed the test process in proving that it is free from illicit materials according to Muslim rules. ...read more.

Middle

Kraft Tiger is also backed up by scientific evidence, which is featured in the ENERMAXX; the product boasts its '9 vitamins 6 minerals' features which could help in releasing and providing extra energy, these are not merely empty words, since there is the nutrition facts to prove it. Kraft Tiger delivered the same message in all of its advertisements through the rational and emotional appeal. Kraft used the rational appeal to create awareness and product knowledge as a cognitive approach towards consumers, rational appeal is used to outline a product's functions and benefits (Kotler et al. 2009, 440); this is used to certify the message that Kraft Tiger is a healthy product and features the ENERMAXX. At the same time, Kraft also used emotional appeal to convey the feelings featured in Kraft Tiger's advertisements. Kraft Tiger's advertisements is generally filled with lively scenes featuring children striving in their daily activities, using the emotional appeal, Kraft wanted to deliver these feelings to the audiences (consumers) so that they may be stimulated and attracted to Kraft Tiger. 2.0 Segmentation Theory 2.1 What Is Market Segmentation Market segmentation means the process of dividing and classifying the once large mass market into a separate individual market; the mass market is separated based on the traits and characteristics that they share. Consumers have different preferences, wants, and buying attitudes. They may also have their own preferences of buying channel, such as ordering by phone, online purchase, or simply a physical purchase from a store. Each consumer has their own unique necessities and desires, thus each one of them can be considered a separate market (Kotler et al. 2009, 229). These differences are the factors which made market segmentation important for marketers; in order to handle the differences in every consumer's needs and wants efficiently, while also effectively make them satisfied, market segmentation is necessary (John McMillan 2008). Market segmentation is important in any businesses as focusing marketing efforts toward the mass market is no longer a viable option today, because consumers have become increasingly diverse and there are a high number of competitors (Why Use Customer Segmentation 2007) ...read more.

Conclusion

Consumers may still choose Kraft as their favored brand, however it is not guaranteed that they will always choose Kraft Tiger, not to mention the vast number of competitors dealing with similar product. There might be some consumers who take a particular liking for Kraft Tiger's taste, especially considering that tweens have a habit to stick on their favorites once they find it, however these types of consumers mostly fall under the minority. 4.0 Completion of Discussion/Rationale of the Target Market Images Chosen Table *only included in the hard copy* 5.0 Reference List Animetric's World. 2009. Kraft Launches Tiger Energy Biscuits!. Blogger. http://animetric.blogspot.com/2009/05/kraft-launches-tiger-energy-biscuits.html Bhattacharyya, Ritu and Sangita Kohli. 2007. "Target Marketing to Children - The Ethical Aspects". dspace.iimk.ac.in/bitstream/2259/387/1/69-74.pdf Bijmolt, Tammo H.A., Harald J.Van Heerdee, and Rik G.M. Pieters. "New Empirical Generalizations on The Determinants of Price Elasticity". Journal of Marketing Research 42 (2): 141-156. http://www.journals.marketingpower.com/doi/pdf/10.1509/jimk.15.3.1 Business Link: Segment your customers. 2011. The Chartered Institute of Marketing. http://www.businesslink.gov.uk/bdotg/action/detail?itemId=1073792478&type=RESOURCES Carrefour. 2011. Our Group. http://www.carrefour.com/cdc/group/our-group/ CityPopulation: Singapore. 2010. Singapore Department of Statistics. http://www.citypopulation.de/Singapore.html Cold Storage. 2011. Corporate, About Us. http://www.coldstorage.com.sg/corporate/public/Corporate_AboutUs.html Goldberg, Joel. 2008. Advantages of Market Segmentation. Market Segmentation Services. Accessed August 22. http://www.marketsegmentation.com/benefits_of_segmentation.html Komninos, Ioannis. 2002. Product Life Cycle Management. http://www.urenio.org/tools/en/Product_Life_Cycle_Management.pdf Kotler, Philip, Stewart Adam, Sara Denize, and Gary Armstrong. 2009. Principles of Marketing. National Library of Australia: Pearson Education Australia Laycock, Jennifer. 2010. A Content Case Study: Kraft Plays to Their Audience. http://www.searchengineguide.com/jennifer-laycock/a-content-case-study-kraft-plays-to-thei.php Learning Point Associates: Socioeconomic Status. 2007. North Central Regional Educational Laboratory. http://www.ncrel.org/sdrs/areas/issues/students/earlycld/ea7lk5.htm McMillan, John. 2008. The Importance of Market Segments. McMillan Technology. Accessed August 22. www.mcmillantech.co.uk/articles/MarketSegments.pdf Moffatt, Mike. 2010. Cost-Push Inflation VS Demand-Pull Inflation. About.com - Economics. http://economics.about.com/cs/money/a/inflation_terms.htm Moffatt, Mike. 2010. Price Elasticity of Demand. About.com - Economics. http://economics.about.com/cs/micfrohelp/a/priceelasticity.htm Money and Kids: average allowances for kids and teens. 2009. www.money-and-kids.com. http://www.money-and-kids.com/average-allowances-for-kids.html NTUC FairPrice. 2011. About NTUC FairPrice. http://www.fairprice.com.sg/webapp/wcs/stores/servlet/FerretAbtUsView?langId-1&storeId=90001&catalogId=10051&Corporate=Y Strategic Marketing and Research Techniques: Market Segmentation. 2011. SMART. http://www.s-m-a-r-t.com/Exp_marketseg.htm VALS(tm): Experiences. 2011. Strategic Business Insights. http://www.strategicbusinessinsights.com/vals/ustypes/experiencers.shtml VALS(tm): Strivers. 2011. Strategic Business Insights. http://www.strategicbusinessinsights.com/vals/ustypes/strivers.shtml Why Use Customer Segmentation, Innovation Insights: The Benefits of Market Segmentation. 2007. Markitecture. http://www.markitecture.com/innovation_insights/customer_segmentation.html ?? ?? ?? ?? Page | 1 ...read more.

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