Segmentation - Targeting - Differentiation and Positioning Strategy

Question: Discuss about theSegmentation,Targeting, Differentiation and Positioning Strategy. Answer: Background The food industry in Australia supplies a diverse range of products. The industry meets the consumer trends such as health and wellbeing which is also convenient and pays value for money. The food and beverage industry in the country contributes in terms of financially and providing employment (Williams, 2017). Sushi Sushi was first launched in Australia 20 years ago. The company has more than 120 locations worldwide. Sushi Sushi offers Japanese cuisine, including additional of salads to the menu. The chefs prepare meals by using ingredients like avocados, authentic Koshihikari rice and Tasmanian salmon (Hoel, et.al. 2015). Market Segmentation The potential market is segmented by Sushi Sushi on the basis of consumer market. Demographic Segmentation Geographic Segmentation Psychographic Segmentation Behavioural Segmentation The demographic segment divides the consumer market into groups on the basis of demographic variables such as age, gender, income, occupation, education and religion. The buyers can be divided into different geographic units such as state, cities, nations, region or neighbourhood. The Psychographic segmentation relates to products, buying behaviour mainly depends on lifestyle and personality characteristics. The buyers are divided on the basis of knowledge, attitude and response towards a product. Segmenting according to age is a great strategy for personalized marketing. For instance, Sushi Sushi targets teenagers, adults and seniors. Income: The market is also segmented on the basis of income. It affects purchasing power and eating habits of consumers. The geographic variables influence need of consumers such as climate, natural resources and territory. Sushi Sushi divides the market into regions because the geographic variables can cause need and want of consumers differ from one region to another. The company segments personality characteristics according to competitiveness, ambitions, aggressiveness, introvert, extrovert etc. The lifestyle of people provides broad view of consumers. So the lifestyle analysis is made on the basis of interest and taste of consumers. On the basis of behaviour market can be segmented on the basis of usage rate which is light, medium and heavy users. The buyers can also be segmented on the basis of their loyalty like hard core loyal, split loyal, shifting loyal and switchers. Appropriate new market segments to be used as potential target market Health conscious people Sushi Sushi targets health conscious people as it is one of the healthy meal options. Fast food lovers People who prefer to eat fast food can also be targeted as it can be new option for them to try. Target Market From the above two options Sushi Sushi can choose segment of health conscious people. As diet food is the new trend in Australia. The people who are diet conscious prefer to eat Sushi as it has a great source of carbohydrates and has negligible fat (Huang, et. al. 2017). It lowers the risk of heart disease, ensures healthy hormonal balance, increases red blood cell count and reduces risk of cancer. So, there is great scope of targeting health conscious people as they can prefer it in their daily meal. The consumer profile includes: Males and females of age 18-34. People who value fresh food. Active, on the go and health consciousness people. People who value packaged food. People who are obliged of value and ability to modify taste of meal. The consumer who value unique method to prepare product: Sushi is made available in different options. Differentiation and Positioning Strategy Product quality: The quality of product differentiates it from the competitors in market. Sushi is a Japanese dish. The products can be imported from Japan to provide better quality. The quality of product ensures more reliability and long term durability (Carey, Caraher, Lawrence Friel, 2016). Competitors: The competitors can be used to establish positioning. It can be made possible by contrasting Sushi Sushi product with competitors. The characteristics of products should be specified to position it better than others. Price: The price can be used to position brand. Sushi Sushi can decide the prices by evaluating the price of competitors. It should keep the prices which are sufficient enough to attract the target market. Promotion: The company can differentiate itself by sale and marketing channels such as inside sales, outside sales, catalogue, web, etc. These all channels can be used together in an integrated manner (Perry Lamb, 2016). Brand strategy: Great brand strategy enunciates differentiation of company against competitors. Sushi Sushi is an already established brand of Japan. So, it can easily differentiate itself from competitors in Australia by using unique value proposition. Now a days brand strategy is the most appropriate one as people are already known from brand. New value proposition The company can new value proposition by offering five products for $4. Such combos are attractive to customers. It is the best strategy to use in the new target market. Positioning statement Sushi Sushi can use its positioning statement double delicious to position itself better in the Australian market (Payne, Frow Eggert, 2017). Positioning map Reference List Carey, R., Caraher, M., Lawrence, M. and Friel, S., 2016. Opportunities and challenges in developing a whole-of-government national food and nutrition policy: lessons from Australias National Food Plan.Public health nutrition,19(1), pp.3-14. Hoel, S., Mehli, L., Bruheim, T., Vadstein, O. and Jakobsen, A.N., 2015. Assessment of microbiological quality of retail fresh sushi from selected sources in Norway.Journal of food protection,78(5), pp.977-982. Huang, H.W., Wu, S.J., Lu, J.K., Shyu, Y.T. and Wang, C.Y., 2017. Current status and future trends of high-pressure processing in food industry.Food Control,72, pp.1-8. Payne, A., Frow, P. and Eggert, A., 2017. The customer value proposition: evolution, development, and application in marketing.Journal of the Academy of Marketing Science,45(4), pp.467-489. Perry, L.B. and Lamb, S., 2016. Curricular differentiation and stratification in Australia.Orbis scholae,10(3), pp.27-47. Williams, G., 2017. Sustaining Australia's food and agribusiness sector.Food Australia,69(4), p.20.