For my marketing plan I wanted to do”Keep It Kool” sports chair that is a great deal for Yeti. What needs to be written about is attached.
Yeti’s Keep It Kool
YETI’s Keep It Kool will target consumers between the ages of 20 to 40 years. The demographics show that these people are likely to consume the company’s services and thus be the primary target. In addition, the consumers between this age group have high purchasing power since most of them have employment with a high disposable income. The average household income for the people in the region is $80,000 annually. According to Suh and Chow (2021), demographic marketing segmentation categories consumers into gender, age, income, and geographic regions. Therefore, YETI’s Keep It Kool will avoid reaching the entire market and instead focus its marketing resources on this small group of customers within the larger market. Irrespective of their age, the target market leads active life that makes it easy to consume YETI’s Keep It Kool products. Most of them prefer to engage in sports and outdoor activities. Therefore, the products that the company produces will satisfy their needs. The target market is the most considerable element in positioning and launching a product or service.
The target customers of YETI’s Keep It Kool represent the demographic that are well educated. Most of them are married and raising their families. The simplest way to develop a demographic segmentation for YETI’s Keep It Kool is to focus on age, income, and geographic region. The variables are valuable factors that help any retailer focus on influencing a specific market’s consumer behavior (Gajanova, Nadanyiova & Moravcikova 2019). Irrespective of age and other demographic variables, the market has a high inclination to high-quality products. Therefore, they are less sensitive to high premium pricing. The brand for YETI’s Keep It Kool will focus on the customers in Southwest and Mid-Atlantic states.
References
Gajanova, L., Nadanyiova, M., & Moravcikova, D. (2019). The use of demographic and psychographic segmentation to creating a marketing strategy of brand loyalty. Scientific Annals of economics and business, 66(1), 65-84.
Suh, T., & Chow, T. E. (2021). Developing a digital marketing tool for ethnic ventures’ mixed business model and market-shaping: A scientific design approach of web demographics. Industrial Marketing Management, 93, 10-21.
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