MARKETING RESEARCH

Marketing research



Marketing research

Introduction

This marketing plan provides an outline of strategies of action in marketing Best Snacks. Best Snacks refers to the division of PepsiCo Inc. which manufactures markets and sells a variety of corn chips, potato chips and other snack foods. In this paper, the four pillars of marketing such as segmentation, targeting, positioning and communication strategies are discussed. Moreover, the general courses of actions or activities are likewise presented.

Segmentation

Segmentation is the division of the market into various homogenous groups. Basically, Best Snacks products are generally marketed to the Hispanics prior to targeting the general market. Best Snacks has Mexican roots which explain why the Hispanic market was the initial market segment. The attractiveness of the market is evident on the strong needs for snacks among all segments. Nevertheless, the focus of segmentation is on penetrating the teen segment. As such, while the Hispanic population likes bold and spicy flavored snack, there is high influence on kids in making snack purchase decisions, emerging Y generation has purchase power and busy lifestyles demand food on the go.

Further, Best Snacks is a leader in the dip market but since there are many competitors in the market the company decided to penetrate the vegetable dip segment. This is in addition to chip dips segment particularly the shelf-stable sour cream based dip and other chip dips which are already in the mature stage of its lifecycle.

Targeting Targeting is the identification of audience to which a product will be marketed. As already noted, the Hispanic population is the initial target market but now also includes the generations X and Y. Teenagers make up a considerable percentage in the marketing activities of Best Snacks especially since they are very particular with value of money. 

Positioning

            Positioning refers to the creation of image in the minds of the target market. Best Snacks indulgence that offers extreme taste, crunch and flavor is the value proposition. With this, it is critical that a well-developed product mix should be use wherein the loud image and the bold flavor of Best Snacks products could be highlighted.  

Product

Aside from selling a wide variety of corn chips, potato chips and snack foods, Best Snacks also markets and sells several varieties of salsas, dips, crackers, nuts and seeds. These are generally under the food on the go category which could be also considered as convenience foods. Most famous brands include Lay's, ...