Market segmentation:
The
preparatory point for discussing market segmentation is mass-marketing.
The market for any product is normally
made up of several segments. A ‘market’
after all is the aggregate of consumers of a given product. And, consumer (the end user), who makes a market, are of varying characteristics
and buying behaviour. There are different factors contributing
for varying mind set of consumers. It is thus natural
that many differing segments occur within a market.
In order to capture this heterogeneous
market for any product, marketers usually
divide or disintegrate the market into a number of
sub-markets/segments and the process is known as market
segmentation.
Attributes of effective
market segmentation:
Identifiable,
measurable, substantial, accessible, differentiable, profitable, durable,
compatible, actionable.
Now
we will describe PRAN juice market segmentation under the umbrella of age,
gender, occupation, income, location, social class, lifestyle, personality and
behavioural variables:
AMCL
(PRAN) company” offers best quality juice with different packages to customers
at a very competitive price. Depending on the market researcher’s information
and considering the growing depend of different juices PRAN is in the top
position.
Age
PRAN’s primary target was only the young generation
where the age may vary from 16-27. But it is
not limited within this age. It has also spread out among the children
noticeably as well as the people above 27 years
Gender
Both
young boys and girls are the target market for the PRAN juice. It is
not specially made for any particular gender
Occupation
Occupation is not clearly defined for the target market of
Pran juice; however where the age varies within the young generation as well as
children so it can easily be understood that most of them will be whether student or doing any job or
business
Income
PRAN
juice
preserve 500ml, and 900 ml Orange, Mango, Cocktail Special
juices which will be totally sugar free but sweet. They keep their price
relatively low than other soft drinks and fruit juice. The whole production
process is in strict conformity with international standards, and constant
research and development all products. Pran Juice provided superior value to their customer who they promised throwing advertising.
Location
Almost all the
places of urban and rural area are under the PRAN’s distribution. Especially in each and every part of the
Dhaka and Chittagong city PRAN is available.
The company has emphasized on Dhaka where more than half of total sales (52%) comes from only Dhaka.
Social Class
PRAN is
targeted for the upper part of the lower class, middle class, upper middle class, and lower part
of the upper class of the society.
Lifestyle
The targeted
market of PRAN is basically young generation who like gossiping, chatting,
hanging with friends, making fun, watching movies, listening music etc. PRAN has also focused on their
customer’s lifestyle in product, advertising and packaging.
Personality
The customers
of the PRAN are mostly action oriented people which include especially the experiences. It also
focuses the personality of the status
oriented people including achievers and strivers.
Target
Market of PRAN juice
6.1 Age
Age is the major determinants in
targeting the consumers. PRAN reflects the
Bangladeshi culture and it represents youth. From our survey, we have found that PRAN is most preferred
in the age group between 20-25 years (85% of 100). Moreover,
the least PRAN preference comes from two
age groups: 25-35 years and 35-45 years, about 1%.
6.2 Sex
Beverage is used for
thirst-quenching purpose and this product is gender neutral, meaning there is
no such kind of obligation to consume the product for male or female. However,
from our survey outcome, we’ve found that 71%
of the consumers are male and 29% are female from 100. All the
respondents are from urban location.
6.3 Occupation & Income
Consumers’ purchasing pattern,
lifestyle and status largely depend on their occupation and average monthly
income of the family. The social class of
the target respondents was determined by their income or taking from
family. PRAN is a low involvement product and it is good enough to consume by upper and middle class. From the survey respondents, students are the most who
purchase PRAN and their income level
is less than 5000 taka. Business people, private service personnel and other earning people consume less amount of PRAN
although their income is comparatively high than the students
Brand position of PRAN
“PRAN” is currently one of the most admired food &
beverages brand among the millions of people of Bangladesh and other 82
countries of the world where PRAN Products
are regularly being exported.
All the PRAN products are produced as per international standards
maintaining highest level of quality at every stages of its production process.
PRAN is currently producing more than 200 food
products under 10 different categories i.e. Juices, Drinks, Mineral Water,
Bakery, Carbonated beverages, Snacks, Culinary, Confectionery, Biscuits &
Dairy. The company has adopted ISO 9001 as a guiding principle of its
management system. The company is complaint to HACCP & certified with HALAL
which ensures only the best quality products are reaches to the consumers table
across the Globe.
