Subway target segmentation

Planning includes observing what to do and what not to do in the marketplace.

Subway target segmentation

Product diversification— growing sales of a new product in a new market. Any modification of a current product that serves to expand the potential market implies that the company is following a strategy of product diversification.

The product diversification strategy is different from product development in that it involves Subway target segmentation a new customer base, which by definition expands the market potential of the original product. This is almost always done through brand extensions or new brands, but in some cases the product modification may "create" a new market by creating new uses for the product.

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Teen People was an example of product diversification since it was a new product that expanded the market potential of the original product, People magazine. While some teenagers undoubtedly bought People magazine, they were not People's target market.

Eventually, however, the product and Web site were merged into the People brand. Courtyard by Marriott and Fairfield Inn are other examples of product diversification since before Marriott offered those new brands they had little potential to expand sales in the business and budget categories.

Marriott had business and budget guests, but they were not specifically targeted, so by concentrating on these two markets they were able to add to their market potential. It should be apparent why Marriott could not expand into such different categories with their original brand name.

When Heinz realized that children play with food and it would be more fun to play with ketchup if it were green or purple rather than red, they also were following a product diversification strategy since the market potential for ketchup increased from food to food plus play. Notice in this case that the brand name was unchanged.

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Sometimes product diversification takes the form of a product extension with the same brand name. Heinz's introduction of "black label" ketchup, Heinz Tomato Ketchup Blended with Balsamic Vinegar, targets the upscale buyer who might not consider Heinz's regular ketchup, thus expanding market potential.

The risk of not understanding the new customer base is present as it is with market development.

Subway target segmentation

For while Teen People had limited success, all of the women's sports magazines failed. The new market women was not interested in the new product new magazines with various titles since—unlike men—women did not want to read a magazine about sports without some link to fitness.

And the few who did buy the new magazines simply switched from the men's versions. The special case of retailers Just as with product development, retailers present a special case. Thus, Subway's conversion from a ordinary sub shop to a healthy food outlet not only changed the brand's positioning substantially but also added new potential customers since, before the change, many of them would have never considered a Subway.Get expert industry market research on Sandwich & Sub Store Franchises in the US.

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