Stine Bplan Market Analysis.docx

II. Market Analysis

A. Market Type: (explain if it is existing market, resegmented market, new market, clone market; study video lecture on Video: There are 4 types of Startups) Advocafe’s market type is an existing market. Its customers known and the competitors are also known and there are numerous of them.

B. Segmentation: (define the term segmentation here; Study Video: Segmentation and Targeting; student must write the several market segments)

Segmentation is the activity of dividing consumers or a broad market into sub-groups based on shared characteristics. There are four kinds of market segmentation: 1. Demographic – based on individual attributes such as race, gender, occupation, education, etc. 2. Geographic – based on geographical boundaries or location and climate 3. Psychographic – based on psychological aspects of consumer behavior attitude, personality traits, interests, etc. 4. Behavioral – based on decision-making patterns such as purchase consumption, lifestyle, usage, etc. C. Target Marketing: (define the term targeting here; Study Video: Segmentation and Targeting; Student must write a general description of the target market) Targeting involves breaking a market into segments and afterwards focusing the marketing efforts one or few segments consisting of customers whose needs or desires match the products or services being offered by the company. Advocafe’s target market are students, teachers, and other employees or businessmen and women who within the area of manila, specifically, Mendiola.

Then the detailed explanation must be explained here according to basis

C1. Geographic: (write the description here, table format; Study Video: Segmentation and Targeting)

GEOGRAPHIC Target Market

Explanation

Schools within Mendiola Street

The proximity of Advocafe will be accessible and convenient to the students and teachers.

Individuals from Malacanang

The proximity of Advocafe will be accessible and convenient to the employees and schools from Malacanang.

C2. Demographics: (write the description here, table format; Study Video: Segmentation and Targeting)

DEMOGRAPHIC Target Market

Explanation

Students

Students, especially college students, love to drink coffee and the prices of Advocafe’s products are just right for their budget or daily allowance.

Employees

Employees need their caffeine fix daily and will be more enticed to purchase affordable coffee.

Professionals

Professionals need their daily caffeine fix and will be more enticed to purchase affordable coffee.

Middle income earners

Prices of Advocafe’s products are affordable which are suitable for their daily budget.

C3. Psychographics: (write the description here, table format; Study Video: Segmentation and Targeting)

PSYCHOGRAPHICS Target Market

Explanation

Individuals who like to study

Students love to study inside cafes due to the ambience and noise-free environment.

Individuals who work

Employees may conduct business meetings inside cafes and also continue working there.

Individuals who like to hang out or socialize

Individuals, especially millennials, go to cafes to catch up or meet up with friends, colleagues, and relatives.

C4. Behavioral: (write the description here, table format; Study Video: Segmentation and Targeting)

BEHAVIORAL Target Market

Explanation

Individuals who need coffee

People who need coffee in their system to function properly would purchase coffee every single day.

Frugal buyers/consumers

Such pragmatic or frugal buyers would likely buy coffee and other products at Advocafe because of the affordable prices.

C5. Benefits: (write the description here, table format; Study Video: Segmentation and

Targeting) BENEFITS Target Market

Explanation

Individuals looking for a place to work

Advocafe is a great place to work or even conduct business meetings because it has a relaxing ambience and it is also a quiet place wherein one can get really productive.

Individuals looking for a study hub

Advocafe is a great place to study and writing papers because it has a relaxing ambience and it is also a quiet place wherein one can get really productive.