Environmental Scan, Consumer Behaviour, Targeting And Positioning - Analysis

Environmental Scan
• Describe how the environmental forces impact the marketing activities of your chosen firm. (Social, economic, technological, competitive and regulatory).
• For example, we know that increased eco-consciousness is a current trend within social forces.
How does this trend impact the company and its marketing activities? Is the company doing anything to respond to this trend? The emphasis should be on analyzing how each of the environmental forces influences the company and the responses that the company has developed or might develop in the future to adapt to trends in the environment.
• You can choose to focus on 3 of the most important environmental forces for the company with considerable detail instead of covering all five environmental forces.
• For more information on environmental scanning refer to chapter 3.

Consumer Behaviour 
• Identify the socio-cultural and psychological influences that are most relevant to a consumer’s decision to purchase your chosen product or service (chapter 5).
o Major psychological factors include perception, learning, lifestyle, motivation, personality, values, beliefs and attitudes.
o Major socio-cultural influences include family, reference groups, personal influence, culture and subculture.

Targeting and Positioning 
• Describe the product’s target market(s) in detail while demonstrating your understanding of market segmentation. Use demographic, psychographic, geographic, and behavioural segmentation to develop a rich and visual description of the typical customer. For more information on segmentation variables see chapter 9.
• Create and include a perceptual map to showcase the positioning of your selected product
relative to its primary competitors

Environmental Scan.

1. Economic Factors.

Economic issues do affect a business in a harmful and confident manner. The business is compromised on condition that price rises in the nation plus as an effect the business products costs rise and the consumption of Canada dry falls. Canada dry makes huge amount of revenues and employs a large amount of people and that contributes to more revenue for the government so an increase in inflation will be detrimental to the economy (Fabbri & Bero, 2018).

2. Social Factors.

The business is client oriented that always takes care of the needs of the clients. The reusable supplies used in the work of the merchandise assists in keeping the environs clean. The business is also assisting the destitute by providing them with books, bursaries and employment opportunities. The business has also increased awareness about the conservation of water, educating people on waste environment and reusable products (Golden, Handfield, Daystar & McConnell, 2015).

3. Technological Factors.

Technology is an area that is causing growth of that business at an extraordinary speed. Beverage business is also influenced by the high-tech aspects however in an optimistic way. The new approaches of filling in the jugs, the freezing methods, the throwaway bottles all prepared so many modifications to Canada dry. The business is embracing all the innovative skills existing. The business is being provided with the fridges, vesicles chiller to keep the bottle cool. The business got the technology of dispensers so they give dry ginger ale to people that is as fresh from the source. The business embraced the reusing technique to preserve its environment.

The present setting is technological driven plus the need for vibrant growth. Canada dry has got skilled research and development group who find out fresh technologies to improve output (Kleinman, Kuei & Lee, 2017).

Consumer Behaviour.

Psychological factors.

Before clients decide their buying choice, they gather then recognize info they required. Intelligence conveyed by businesses effect in the choosy consideration of clients. Clients get info of look, sound, flavor, odor, feel of a merchandise, besides select their unique favored. These wits plus info finally make responsiveness plus insight in the clients mind. Feeling plus insight make basic reception of a trademark, besides learning plus memory improves the approval. Opinions plus decisions of clients might be compromised and altered by the mental issues and lastly the entire client behaviors are diverse (Schram, Labonte, Baker, Friel, Reeves & Stuckler, 2015).

Economic Factors

The flavor of the product is a unique component that create it unlike from others, particularly its competitor Fresca. Flavors of the trademark fizzing beverages with unique recipe to make are distinctive for clients.

Canada dry delivers a lively way of being available for clients. The view is improved via its recurrent disclosures by its advertisements in diverse advertisements, mass media, plus places. Through its familiar brand appearance, trademark links are made in the procedure of knowledge plus recollection (Karnani, 2014).

Sociological factors.

Approaches toward a trademark are the effects of psychological insight and recollection. An important factor affects customers’ choice creation is the social-cultural changes between the brand plus preferences of clients. For example, for western nations like the USA, the customary eating routine of fast food makes persons to be familiar with Canada dry beverages. However, eastern nations, including China, Japan, Korea, are less available for Canada dry beverages. People have elevated their worries on healthy diet, the fizzy beverage is viewed as high in body fat and sugars (Lynch, 2018).

Targeting and positioning.

1. Demographic Segmentation.

Age is a main factor to be used in demographic type of segmentation. Generally, Canada dry does not have a specific market and is addressed to everyone. But the main consumers are between twelve and thirty year old people; even if there is no specific product or communication for less than twelve or more than thirty, the Canada dry brand succeeds in reaching them, through partnerships for example fast food chain such as McDonald’s or thanks to its value among consumers. Therefore the core target audience of Canada dry is the youth (Martin, Durr, Smith, Finke & Cherry, 2017).

2. Behavioral Segmentation.

Under the occasion factor, the clients can be differentiated according towards the instances when they create a need, buying a product, or usage of a merchandise. Occasion’s division can help companies expand product use (Lariviere, Keiningham, Aksoy, Yalcin, Morgeson & Mithas, 2016).

Under the benefits factor, the company presents awards in the topmost cover.

3. Psychographic Segmentation.

Canada dry buyers are divided into different groups on the basis of lifestyle or personality or values. Under lifestyle, Persons display many more way of life than is proposed. People contrast in attitudes, goings-on, and these compromise the goods plus services they eat. The business presented goods which are appropriate for current and mobile age group. Under personality, the business is using character variables to divide markets. They give the products a brand character that match up to the target consumer character (Nguyen & Shirai, 2015).

Social Factors

4. Geographic Segmentation.

Geographic division calls for distributing the marketplace into different terrestrial elements such as areas, municipalities, or district. Canada dry has a nationwide network of merchandise circulation but the business divides more in city areas as associated to countryside areas (Singh & Kaur, 2016).

Below is a perceptual map showcasing the Canada dry relative to its competitors.

                                                              Fig 1: Perceptual map (Kardes, Cronley & Cline, 2011).

Conclusion:

Canada dry is a very solid trademark in the world. Bendable market strategies and wonderful innovation size make Canada dry keep front-runner position in soft beverage turf. However, the tags of “Junk Food” plus “cause obesity prevalent” are the unique sins of soft beverages. To free this perception, Canada dry is venturing in non-soft drinks plus also make incomes from this non-soft drink arenas. The company has diversified by having its own water called Canada dry tonic water.

Canada dry is a soft carbonated drink sold in vending machines, stores and restaurants. It is owned by the Keurig Dr Pepper Company in Canada. The company is known for its ginger ale but it produces other beverages plus mixers.

Regarding Commercial social obligation, the Canada dry corporation is guided via the objective of being ecological. This is specifically shown over the activities it has taken in the subsequent categories: packing and reusing, consumer health, employee growth, participation of suppliers besides water stewardship (Harris, Schwartz, Brownell, Javadizadeh & Weinberg, 2011).

Regarding packaging and recycling, the company has introduced plant bottle which is made from a mixture of petroleum based materials and thirty percent of plant based materials. The company has also achieved high rate of recycling of its bottles.

With respect to consumer health, the company has widened the product portfolio through goods that are not calorific and has condensed the volume of calories in its beverage by eighty eight percent according to the school beverage guidelines.

The improvement of workers is a further purpose of the CSR of the business. The company trusts that employees are the basis for achievement. In its preceding CSR agendas, Canada dry has made special programs to entice, hold and improve the skills and capabilities of workers. These programs support workers to properly test their potential while improving leadership skills and gifts needed by the business in all sectors plus in all nations. Its present CSR program endorses employee equality regarding different cultures (Sadeghirad, Duhaney, Motaghipisheh, Campbell & Johnston, 2016).

Technological Factors

References:

Fabbri, A., Holland, T. J., & Bero, L. A. (2018). Food industry sponsorship of academic research: investigating commercial bias in the research agenda. Public health nutrition, 1-9.

Golden, J. S., Handfield, R. B., Daystar, J., & McConnell, T. E. (2015). An economic impact analysis of the US biobased products industry: A report to the congress of the United States of America. Industrial Biotechnology, 11(4), 201-209.

Harris, J. L., Schwartz, M. B., Brownell, K. D., Javadizadeh, J., & Weinberg, M. (2011). Evaluating sugary drink nutrition and marketing to youth. New Haven, CT: Yale Rudd Center For Food Policy and Obesity.

Kardes, F. R., Cronley, M. L., & Cline, T. W. (2011). Consumer Behavior, Mason, OH: South-Western, Cengage Learning, 2011. ISBN 978-0-538-74540-6.

Karnani, A. (2014). Corporate social responsibility does not avert the tragedy of the commons. Economics, Management and Financial Markets, 9(3), 11.

Kleinman, G., Kuei, C. H., & Lee, P. (2017). Using formal concept analysis to examine water disclosure in corporate social responsibility reports. Corporate Social Responsibility and Environmental Management, 24(4), 341-356.

Larivière, B., Keiningham, T. L., Aksoy, L., Yalçin, A., Morgeson III, F. V., & Mithas, S. (2016). Modeling heterogeneity in the satisfaction, loyalty intention, and shareholder value linkage: a cross-industry analysis at the customer and firm levels. Journal of Marketing Research, 53(1), 91-109.

Lynch, R. (2018). Towards an innovation link between dynamic capabilities and sustainability strategy: options for emerging market companies. International Journal of Innovation and Technology Management, 1940003.

Martin, H., Durr, D., Smith, M., Finke, R., & Cherry, A. (2017). Analysis of GMO food products companies: financial risks and opportunities in the global agriculture industry. College of Agriculture and Life Sciences, Department of Agricultural Economics, Students.

Nguyen, T. H., & Shirai, K. (2015). Topic modeling based sentiment analysis on social media for stock market prediction. In Proceedings of the 53rd Annual Meeting of the Association for Computational Linguistics and the 7th International Joint Conference on Natural Language Processing (Volume 1: Long Papers) (Vol. 1, pp. 1354-1364).

Sadeghirad, B., Duhaney, T., Motaghipisheh, S., Campbell, N. R. C., & Johnston, B. C. (2016). Influence of unhealthy food and beverage marketing on children's dietary intake and preference: a systematic review and meta?analysis of randomized trials. Obesity reviews, 17(10), 945-959.

Schram, A., Labonte, R., Baker, P., Friel, S., Reeves, A., & Stuckler, D. (2015). The role of trade and investment liberalization in the sugar-sweetened carbonated beverages market: a natural experiment contrasting Vietnam and the Philippines. Globalization and health, 11(1), 41.

Singh, B. J. R., & Kaur, M. P. (2016). Corporate social responsibility in India. International Journal of Higher Education Research & Development, 1(1).