Marketing report for a company that produces health organic food Assignment

Marketing report for a company that produces health organic food products - Assignment Example 200). To start with, is to develop a fresh product line which will aim at improving sales by at least 20%. Secondly, a â€Å"new and enhanced† commodity line to the already on hand customer base will be launched through conveying improvements and revisions. Furthermore, we intend to raise product awareness by at least 40% before the end of this year among the intended audience. Finally, carry out an extensive study on the different segments of the market and formulate new ways of satisfying each segment’s needs (Nash, 2000, p. 68). Market Segments Understanding market segmentation is very important since it will enable QOFPC to concentrate on satisfying the specific needs of its customers (Kotler et al, 2009, p. 200). Though mass marketing has its own advantages, it has also been criticized and companies are currently being advised to concentrate of micro-marketing where production is driven by market segments. There are different segments of the market that needs to be studies in order to know how to engage effectively on the production process. For instance, by QOFPC studying the behavior of its potential customers, it will be in a position to determine how to play between quality and low price in its search to satisfy all its customer categories (Schmid, 2007, p.102). First and foremost QOFPC needs to understand the demographic component of the market. This component takes into consideration things such as age, the size of the families of potential customers, gender, income, occupation, religion, social class, race and education. These demographic units are closely linked with consumer needs and preferences (Schmid, 2007, p.103). For example consumer needs change widely with age; a child may prefer very sweet food products as compared to an old person. Studying the geographic segment (focuses on regions, cities and rural and urban areas) is equally important since it will allow the company to identify the buying capability of its market. People in rural areas are mostly ignorant and have low incomes, hence, require different marketing strategies from those in urban areas (Nash, 2000, p. 70). By understanding these variations, the company will be able to estimate its market size and choose an appropriate media of reaching its market effectively. According to Kotler et al (2009, p. 205), the psychographic segment focuses on people’s lifestyles, socio-economic status, values/beliefs and personalities. Under this segment, psychology is applied to the demographic factors in order to have a clear understanding of the potential customers. People of the same age may have different beliefs that are likely to affect their tastes and preferences. The final market segment that needs understanding is the behavioral segment that focuses on: occasions, benefits, usage rate, attitude, readiness stage, user status and loyalty status. QOFPC needs to study the possibility of occurrence of occasions such as festivals that will boost i ts sales in order to target them effectively (Nash, 2000, p. 70). Moreover, since this company produces health organic foods, it will be of great importance to study individuals who exactly buy the products and their buying capability. Marketing Strategy Using Marketing Mix Marketing strategies aim at creating the value of customers, capturing and delivering that customer value and above all sustaining the customer value (Nash, 2000, p. 90). An appropriate marketing strategy calls for discipline blending and high flexibility.