Tio Gazpacho Market Analysis
Age Segment
Tio Gazpacho’s demographic segment is that of 2 generations. The first is a younger generation which is keen on the accessibility and portability of the soup and their ages range from 24 to 38 year old (Stefanac, 2013) and is known as the millennial generation or Generation Y (Business Dictionary, 2018). There is also a strong demand for soup based products from the older generations which range in ages 39 to 65, and this generation known as Generation X, along with the Baby Boomer generation (Business Dictionary, 2018). Once the consumer reaches the age “of 45 consumption of soup products picks up but once the consumer hits the age 65, it increases dramatically” (Stefanac, 2013). So there is a demand from both generations one …show more content…
The behaviors exhibited in a Tio Gazpacho consumer’s everyday life could include what they eat or what they enjoy doing with their free time. The Tio Gazpacho brand is a product made for consumption so therefore it could be considered a necessary purchase for consumers. This product is something that can be used every day, several times a day. The bottled soup product advertises itself as a healthy product and the millennial demographic has shown a desire for purchasing healthy products in addition to the brand being authentic (Kim & Fry, 2015). This is due to this demographic aligning their own identity with the brand. The rise of the smart consumer has impacted the consumable industry. This smart consumer is defined as someone who is very informed and wants to see transparency, simplicity in ingredients, and truth in labeling of a product (Kim & Fry, 2015). The brands that are able to meet these key elements will gain customer loyalty and can even produce a brand advocate. Tio Gazpacho’s ability to seamlessly integrate into the consumer's life produces a brand experience for them that will fit perfectly into their everyday life. This can ensure reliability with the brand to continue to provide this
Tio Gazpacho’s demographic segment is that of 2 generations. The first is a younger generation which is keen on the accessibility and portability of the soup and their ages range from 24 to 38 year old (Stefanac, 2013) and is known as the millennial generation or Generation Y (Business Dictionary, 2018). There is also a strong demand for soup based products from the older generations which range in ages 39 to 65, and this generation known as Generation X, along with the Baby Boomer generation (Business Dictionary, 2018). Once the consumer reaches the age “of 45 consumption of soup products picks up but once the consumer hits the age 65, it increases dramatically” (Stefanac, 2013). So there is a demand from both generations one …show more content…
The behaviors exhibited in a Tio Gazpacho consumer’s everyday life could include what they eat or what they enjoy doing with their free time. The Tio Gazpacho brand is a product made for consumption so therefore it could be considered a necessary purchase for consumers. This product is something that can be used every day, several times a day. The bottled soup product advertises itself as a healthy product and the millennial demographic has shown a desire for purchasing healthy products in addition to the brand being authentic (Kim & Fry, 2015). This is due to this demographic aligning their own identity with the brand. The rise of the smart consumer has impacted the consumable industry. This smart consumer is defined as someone who is very informed and wants to see transparency, simplicity in ingredients, and truth in labeling of a product (Kim & Fry, 2015). The brands that are able to meet these key elements will gain customer loyalty and can even produce a brand advocate. Tio Gazpacho’s ability to seamlessly integrate into the consumer's life produces a brand experience for them that will fit perfectly into their everyday life. This can ensure reliability with the brand to continue to provide this