Market Segmentation for the Coffee Market Research Paper

Market Segmentation for the Coffee Market - Research Paper ExampleThe adjacent diagram shows the income distribution (media per capita income in 2009) of billy goat Rouge, Louisiana area. (Source Baton Rouge..) As per the media per capita income distribution in Baton Rouge in 2009, the Whites have high inflow of income as compared to other groups. The chart indicates that the Hispanic is graded just below Whites in case of media per capita income distribution. The 2010 census reflects that the Baton Rouges universe comprises of 50.02% African American, 45.7% Whites, 2.62% Asian, 0.18% Native American, and 0.49% other races (Louisianas report). The historical trend figures point that the pct era of Whites in the urban centers population gradually increases oer the last two decades. The Whites population yield together with improvements in living standards offers potential advantages for the umber market. This type of market segmentation assists the coffee assiduity to easily id entify the purchase power of consumers and to design cost-effective promotional tactics for different market segments. A number of surveys have indicated that as compared to blacks, whites like coffee more. Hence, the Whites may turn out to be the potential market segment for the company. However, majority of the African Americans and Asians are also regular users of coffee. Targeting strategy age developing a targeting strategy for the coffee market, it is necessary to analyze the coffee consumption culture of the population. (Source 2008 matter Cofee Drinking) The given figure indicates the graphical representation of the outcomes of the 2008 National Coffee Drinking Trends Study. This prove focused on the coffee consumption trends in different age groups and published a spaciotemporal report detailing coffee trends all over the last eight years. From the above chart, it is clear that the percent of coffee whoop it uping in the United States is directly proportional to the a ge of the population. The graph clearly illustrates that people over the age 60 are more likely to drink a lot of coffee as compared to other age groups. Likewise, youngsters between the age of 18 and 24 are less likely to drink coffee as they are heavily attracted to modern beverages. It is advisable for the company to target people over the age 30, because the trends study shows that youngsters very rarely take coffee. However, a growing coffee consumption trends is seen among the age group 25-39 therefore, it is also advisable for the company to give more focus on this group of consumers as potential prospects. Target segment descriptions As we discussed earlier, a major proportion of the Baton Rouges population represents Whites and African Americans even though the city is an agglomeration of different cultures. The demographical information show that the citys 35.8% of the total households are married couples whereas 40.8% are non-families (Private hard money). The 2010 census data bust that the Baton Rouges average household size is 2.42 while its average family size is 3.12. The percent of people living under the age groups of below 18 is 18-24 25-44 45-64 and 65 and above is 24.4%, 17.5%, 27.2%, 19.4%, and 11.4% respectively (BatonRouge). The population trend indicates that there are only 90.5 males for every 100