Market Segmentation
Question 1
Division of marketing for Kit Kat – chocolate bar, into geographic , demographic, psychographic and behavioural segmentation.
Geographic segmentation
The market is broadly divided into Urban (cities and towns) and Rural (villages). Kit Kat caters the high urban need by making products available that too with a variety with the help of which the rural crowd can be kept attracted. Rural needs are also kept in mind and there is nothing even required for Kit Kat to make an effort to attract rural crowd because of the price. Kit Kat’s price is very reasonable that attracts rural crowd and gives them proper quantity of chocolate as well be it the two-finger Kit Kat or the four-finger.
Since Kit Kat has its price stable and has a very minor change in its price, it can still target the rural crowd by making them aware that compared to their competitors Cadbury their product is cheaper and much affordable.
Demographic segmentation
With the youth population getting larger, Kit Kat looks to take an advantage of that. They have also segmented the market for children, adults and aged people. Kit Kat is a type of a chocolate that is light and can be consumed by every age group.
Majority of the customer base in market comprises of middle class and upper middle class. But income groups have never been a concern for Kit Kat, the prices of Kit Kat have been stable for decades and the prices are such that any income group can afford it.
Psychographic
Division of marketing for Kit Kat – chocolate bar, into geographic , demographic, psychographic and behavioural segmentation.
Geographic segmentation
The market is broadly divided into Urban (cities and towns) and Rural (villages). Kit Kat caters the high urban need by making products available that too with a variety with the help of which the rural crowd can be kept attracted. Rural needs are also kept in mind and there is nothing even required for Kit Kat to make an effort to attract rural crowd because of the price. Kit Kat’s price is very reasonable that attracts rural crowd and gives them proper quantity of chocolate as well be it the two-finger Kit Kat or the four-finger.
Since Kit Kat has its price stable and has a very minor change in its price, it can still target the rural crowd by making them aware that compared to their competitors Cadbury their product is cheaper and much affordable.
Demographic segmentation
With the youth population getting larger, Kit Kat looks to take an advantage of that. They have also segmented the market for children, adults and aged people. Kit Kat is a type of a chocolate that is light and can be consumed by every age group.
Majority of the customer base in market comprises of middle class and upper middle class. But income groups have never been a concern for Kit Kat, the prices of Kit Kat have been stable for decades and the prices are such that any income group can afford it.
Psychographic