Page 148 - Foundations of Marketing

O B J E C T I V E S

1. Understand what markets
are and how they are gen-
erally classified.
2. Grasp an overview of the
five steps of the target Target Markets: Segmentation
market selection process. and Evaluation

3. Understand the differences
among general targeting
strategies.
4. Become familiar with
the major segmentation
variables.
5. Know what segment profiles
are and how they are used.
6. Understand how to evalu-
ate market segments.
7. Identify the factors that
influence the selection of
specific market segments
for use as target markets.
8. Become familiar with sales Craig Yates/Alamy
forecasting methods.

M A R K E T I N G I N S I G H T S

Magnum Is Irresistible to Any Demographic

The supermarket freezer aisle has become a red-hot dessert to cap off a special meal or as an everyday
battleground for companies seeking a bigger bite of indulgence right out of the freezer.
the $ 85 billion global ice-cream market. The world- Introduced in Europe in 1989, Magnum is now
wide leader is Unilever, which owns popular brands available in 50 countries and has grown into one
like Ben & Jerry’s, Breyers, and Klondike. In the of Unilever’s billion-dollar brands. When Unilever
United States, however, Nestlé dominates the ice- launched Magnum in the U.S. market a few years
cream aisle—a situation that Unilever is planning to ago, the product became so popular so quickly that
change with the marketing of its Magnum premium the company had to import more from Europe to
ice-cream brand. keep up with demand. Today, Magnum’s U.S. sales
Magnum is for adults who want to indulge them- exceed $ 100 million annually. Unilever has also
selves with a rich, creamy ice-cream pop, topped created Magnum Minis, smaller pops with fewer
with a coating of fine Belgian chocolate. Even if calories, to tempt U.S. consumers who might other-
they’re not jet-setters, consumers who admire or wise choose competing ice-cream novelties. With
aspire to a luxurious lifestyle can get a small taste of 5 million Facebook likes and more than 53,000
it at home by treating themselves to a Magnum pop. Twitter followers, Magnum is building on its social
Unilever is aiming its marketing toward adults who media presence to promote the luxury lifestyle, one
1
can afford to pamper themselves with an ice-cream ice-cream pop at a time.

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