Coca Cola and Lynx – marketing
The above is what we will be analysing Coca-Cola’s and Lynx’s segmentation criteria with as we feel that it covers all that is necessary to carry this task out. Market segmentation is very important because it can gain the organisation a competitive edge especially today where markets have a wide variety of products needs and preferences. Due to this research Marketers can respond a lot more effectively to increases from competition by defining customer’s needs.
By defining customers needs the decision makers of an organisation can define objectives and allocate resources a lot more efficiently. Coca Cola and Lynx More than a billion times every day, thirsty people around the world reach for Coca-Cola products for refreshment. Their promise to the consumer is to deliver the highest possible quality. It involves a worldwide, yet distinctively local, network of bottling partners, suppliers, distributors and retailers whose success is paramount to their own. Lynx values the total deodorant market at i??
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Weaknesses: Is considered to be unhealthy in an ever conscious health society. Opportunities: Diversification in to all other areas such as collectable memorabilia, clothing etc. Also with the popular new drink, Powerade which is a very popular sports drink. Threats: Pepsi is the closest and only real threat to Coca-cola as it has been established for quite some time. Lynx Strengths: It is the major male deodorant with a 52% market share. Weaknesses: Has to target the other groups as well, such as older males.
Opportunities: Could diverse into female body deodorants as it has a very established name in the male body deodorant industry. Threats: Already well established companies such as Adidas moving into the pharmaceutical industry. Geographic Geographic factors are fairly clear and prone to be taken for granted. But while they have received very little attention in the USA they have however been the focus of considerable interest in the UK as this is evident in the development of ACORN (a classification of residential neighbourhoods), which we will mention later on in the sub-section Socio-economically.
When investigating geographic variables there are some main variables that an organisation should look at: The region of a country doesn’t really seem to be a problem for a products such as Coca-cola and Lynx as they are easily adaptable to any part of the country, so for example in the UK these might be England, Scotland, Wales, Northern Ireland or at a more detailed level, counties or major metropolitan areas. Country size, City size and density also play a major part of the geographic variables as this is a significant factor when both Coca-cola and Lynx are trying to work out how much time and effort to invest in certain areas.
It won’t be very efficient for Coca-cola to invest as much time and effort into researching areas such as remote villages as they would for somewhere like London, this is because they will receive a much greater return from London as there is a much larger consumer base there, so they will be aiming to attract a much larger audience. Also certain countries are assumed to have common characteristics which influence buying attitudes, such as the USA who are infamous for their love of junk food and soft drinks, so it would be advisable to offer larger quantities at cheaper prices.
Climate is another geographic variable, when Coca-cola is concerned they see themselves as bringing refreshment to people. So they will aim to increase their profile in times of people needing refreshment, for example in hot countries such as Australia or in the UK during summer time Coca-cola will tend to advertise their product and suggest promotions to their outlets to boost availability and knowledge of the product as they seek to ‘refresh’ people.
Lynx also aims to target the hotter areas of the globe and certain areas during summer periods as temperatures rise. This would results and higher body temperature and bodily odour. Using lynx will reduce this odour and provide a better smell. Demographic Demographic segmentation consists of dividing the market into groups based on variables such as, age, sex, income, occupation, education, religion, race, nationality and family size.
The demographic for Coca-cola very broad as it is a product that appeals to everyone and anyone really. Age, sex, income, occupation and education don’t really apply to Coca-cola as people from all walks of life enjoy what their product has to offer. On the other hand these factors do affect Lynx because it is a product that is aimed at the younger more fashionable generation, also as it is a male deodorant the product is not aimed at females but as for income, occupation and education it is a quite widely accepted product.
However religions, race and nationality are quite an important variable for Coca-cola but not for lynx on this occasion. For example, the majority of the people around the world celebrate Christmas and with the holiday season becoming ever more commercialised a lot more brand names are succeeding over that period. Coca-cola is the same as there is huge boost in advertising their products over that period.