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Essay / Research Paper Abstract
This 5 page paper is written in two parts. The first part defines the specific target markets of Krispy Kreme, using both detailed demographics and psychographics. The second part of the paper draws a perceptual map to help place the company in the most advantageous position. The bibliography cites 5 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEKKrem1.rtf
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Unformatted sample text from the term paper:
in both the differentiation but also the way in which it has segmented the market and targeted some very specific areas. This is a tasks it has undertaken very successfully
demonstrating the ability for good target marketing to reduce the level of required marketing budget. Target marketing and segmenting means that they can identify and target the consumers that are
most likely to buy their products, or those whom they want to attract. In identifying at the target market we can begin with the demographics of a set market.
Demographics are objective measures such as age gender, class and income (Kotler, 2003). The studied undertaken on Krispy Kreme give some interesting patterns that can be used to indicate one
or more target markets. It has been found that the company appeals to higher earners. When compared to the average likelihood of buying Krispy Kreme doughnuts it has been found
that those earning more than $50,000 are 34% more likely to make the purchase (Fetto, 2001). The converse has also been found
to be true, with those earning less than $20,000 being 5% less likely to make a purchase at Krispy Kreme. It is interesting to note that this market shows the
opposite trend when compared to a perceived rival; Dunkin Doughnuts, where the lower income individuals are more likely to make a purchase (Fetto, 2001). Age is also a indicative
factor of the target market. Whilst adults that are over the age of fifty five are less likely to buy doughnuts from any source, those under the age of fifty
five but over the age of forty five are more likely to purchase a Krispy Kreme doughnut. This is also the group that is 13% less likely to make a
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