Consumer Behavior Blog for project

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Tag: content-marketing

  • 2-1 Module 2 blog post Uncovering New Market Segments

    It is finally spring in New England, and with the warmer weather comes a desire for grilled meats and eating dinner outside. With the new grilling season upon us, my household found itself in need of a new grill. After much discussion and research, we decided to purchase a Weber grill. Weber was established in 1952 and has since become the world’s most popular grill brand. We’ve owned other grill brands; in fact, the grill we needed to replace was a mid-level-priced grill from the brand “Char-Broil,” and it lasted a couple of years. This time, however, we were looking for something that was going to last us a bit longer—enter Weber Grills. Even though they are more expensive, Weber has a reputation for being durable and reliable, and that is what we were looking for. To me, Weber is worth more because of its reputation (Babin, 2022).

    Weber’s broad market is everyone who enjoys grilling food at their home. If we look at the market segmentation, we can break this down into smaller, distinct consumer groups like first-time homeowners, casual grillers, outdoor living enthusiasts, and luxury/high-end shoppers.

    The Weber implements their segmentation strategy for each of their groups in different ways. Two major segmentation strategies are demographic and geographic. The biggest indication of the demographic segmentation strategy is the range of products at different price points. This allows for marketing to different demographics based on economic status. By offering a variety of products at various price points, Weber is able to appeal to a wide range of consumers with different budgets. To market to a geographic segment, Weber offers tabletop grills as well as traditional-style gas and charcoal grills that would be more suitable for smaller living spaces in urban areas. This allows them to target consumers living in apartments or condos who may not have the space for a larger grill, expanding their reach to a wider geographic segment of the market. This strategy is one of the ways we were convinced that Weber was the right brand of grill for us to buy, as we live in an urban area with not a lot of yard space.

    When implementing segmentation strategies, it is important to remember and understand the specific needs of the target market. By recognizing that customers in an urban area still enjoy grilling but need a compact grill that fits their living situation, Weber is able to capitalize on millennials who are not yet ready to buy a home and are still renting an apartment. Another point businesses need to keep in mind is that a target market’s needs and wants are fluid and apt to change; for example, young adults today desire different things than their parents did at the same age. Weber and other businesses need to keep in mind that the segmentation strategy needs to be able to pivot as needed. Businesses should also use reliable research and data to ensure that they are effectively defining and ultimately reaching their desired marketing segments (Cruz, 2021). Tailoring all aspects of the marketing mix, like product, price, place, and promotion, to appeal to each segment is another point that a business will want to consider when implementing their segmentation strategy. If marketing to millennials or Gen Z, a company wants their product available where that group shops; if marketing to older consumers, television ads may be the way to reach them, and so forth. Businesses should stay flexible, use reliable data, and continue to monitor trends. Doing this will help adapt to changing consumer needs, improve engagement, and build loyalty.

    A new market segment that I have noticed recently is the increasing number of millennials who are trying to live more eco-friendly and sustainable lives. There seem to be a lot more “farming” influencers on my For You page of TikTok, and I think that this trend will continue to grow in popularity among younger generations. Homeowners are buying chickens—with the price of eggs, it makes sense—and growing their own fruits and veggies. To target this group, I would develop a segmentation strategy that focuses on psychographics and emphasizes environmental values and lifestyle. Marketing efforts should highlight eco-friendly features, sustainable materials, and energy efficiency. Using digital channels like social media (TikTok and Instagram) and partnering with well-known green brands to effectively reach this environmentally aware audience and increase brand awareness and engagement. 

    References

    Babin, B. J., & Harris, E. G. (2022). Consumer Behavior (9th ed.). Cengage Learning. 

    Cruz, B. (2021, March 25). The 5 keys to successful segmentation. Chadwick Martin Bailey. https://www.cmbinfo.com/insights/the-5-keys-to-successful-segmentation/ 

    Edwards, C. (2022, April 15). Millennials, fire up your (weber) grills!. Harris Poll. https://theharrispoll.com/briefs/millennials-fire-up-your-weber-grills/ 

    LinkedIN Learning. (2023, September 1). How do you align your marketing mix with your market segments and Target Markets?. How to Align Your Marketing Mix with Your Market Segments and Target Markets: A Case Study. https://www.linkedin.com/advice/0/how-do-you-align-your-marketing-mix-market#:~:text=Aligning%20Marketing%20Mix%20with%20Market,on%20segment%20performance%20and%20feedback. 

    Segmentation, targeting & positioning (STP) in marketing: Explained with examples – the strategy story. The Strategy Story – Simplifying Business Strategies. (2023, May 11). https://thestrategystory.com/blog/segmentation-targeting-positioning-stp-in-marketing-explained-with-examples/