However gender and race represent segmentation criteria of the consumers, they will not be taken into consideration when selecting the target market as the Foster beers are addressed to both men and women and all races. The major selection criteria to be taken into account are represented by age, level of education and school graduated, income and social behavior. The proper identification of the target market is vital for Foster as it saves the company time and efforts and helps them address the right consumers (Pinson 1993).
Both target markets are formed of individuals who currently consume both Foster’s beers as well as beers from competitive producers. Several marketing strategies must be developed by Foster’s by which to increase customers’ loyalty to the brand. The division of the market into the two target markets is useful as it helps the company better address diverse needs and financial capabilities. As such, the first target market will be addressed less expensive products with satisfying qualities, whereas the second target market will be addressed higher quality beers at higher prices.
The product strategies which are to be developed and implemented by the Foster Group in regard to promoting their beers should basically revolve around increasing their customers’ loyalty to the brand and increasing the company’s current customer palette. Several decisions must be made in regard to the functionality, packaging, branding, labeling, (2007 Net MBA) extensions or length of the product line. The functionality of the Foster beers is implied by the product itself, which is aimed to be a beverage consumed and served at social gatherings, sports events or simply to clinch the thirst of the consumers’.
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All Foster’s beers are to be packed in handy and convenient receptacles of modern designs. As such, the drinks could be bottled in 500 or 300 ml bottles or in metallic cans of 500 ml. Each container will be labeled according to the contents, ingredients, manufacturing and bottling date as well as the expiry date. The labels will also contain the name of the brand (such as Corona or Cascade) and the name of the producing group (Foster’s). The beers will be available for single purchase or in packages containing several containers, such as the most famous six-pack.
In packaging their beers, the producer must also take into account its tremendous international orders and the proper mass packaging of their products. In other words, Foster’s must insure a safe traveling of their products and their successful reaching of the destinations. In this order of ideas, they must pack their beers in solid containers which protect the cargo against damage throughout the transportation. The most efficient packages are the plastic boxes, but they have the inconvenient of occupying too much space.
For the beers packed in metallic containers, the producer could use cart boxes. The length of the product line must be established based on thorough market researches which take into account customers’ preference for specific beer types, the frequency of purchase and the demand on the market. Also, it must take into consideration the company’s financial possibilities and the seasonal aspects (for instance, the consumption of beer decreases significantly in Europe during the winter season).
Foster’s Group is based in Australia but serves customers across the entire globe. The producer’s customers are generally similar to the consumers of other beer producers. They come from all social backgrounds; have various levels of education and income and different hobbies. A major issues confronting Foster’s is the need to increase its customers’ loyalty to the brand.
• Bawden, Tom, 2006, S&N Turns on Foster’s Tap in Europe, Business Times Online, http://business.timesonline. co. uk/tol/business/industry_sectors/consumer_goods/article704447. ece (accessed on January 3, 2008)
• Chessell, James, 2004, Cheers! Why Every Brewer Loves a Premium Beer or Two, The Sydney Morning Herald, Sydney
• Crouch, Andy, 2002, Ring the Bell and Prospective Beer Drinkers Reflexively Reach for Cases of Light Premium American Lagers, Beverage Business, http://www. beveragebusiness. com/bbcontent/art-arch/crouch0902. html (accessed on January 3, 2008)
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Target Market – Foster’s Group. (2018, Jun 03). Retrieved from https://phdessay.com/target-market-2/