Pepsi has historically targeted a young audience especially since the 1980s .Many of their ads were usually aimed at teenagers and even younger groups by introducing fun, sports and music in their ads and this still hasn’t changed in 2014.Pepsi has consistently found new ways to adapt to each generation and found great success through it. But most of the credit comes from their segmentation methods.
Pepsi has a Behavioral segmentation that contains customers usage. They range customers usage from light to occasional drinkers. They also look at customers purchase behaviors trying label them as instinctive or planned buyers. A good example of a planned buyer and a purchase occasional buyer would be somebody having a get together or a party where the customer chooses to buy Pepsi products to quench their thirst after a exciting fun time.
Pepsi also has a Psychological segmentation that focus on a lifestyle and personality. Pepsi has created a motto for themselves called Live Now, but they say that its not just a motto but a mindset. So you already know that they had to have a segment of people that share their same belief. These customers are usually fun sophisticated people or cool teenagers.
Pepsi’s final segmentation is Geo-demographic which mostly focuses on the urban areas around the world .which make a lot of sense because most people believe that the cities is where the most fun and big event occur at. As well as finding this particular demographic ages 18- 25 ,which are considered to be young cool sophisticated people that just want to live now.
Coca Cola Company is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands.But for some reason Coca Cola doesn’t have a specific target segment but adapt its marketing strategy by developing new products, which really means their segmentation are really broad. Generally, Coke does not have a specific target because they are really trying to addressed everyone.
Coca Cola also doesn’t try to target a lifestyles, but they are seeing more and more busy lifestyle and mobile generation that are considered to be the most important part of Coke’s consumers. Coca cola also doesn’t care about a customers occupation but found out that mainly students and family oriented people buy Coca Cola products.
Coca Cola also sees that their main consumers are 12-30 years old people and even though there is no specific product or communication for less than 12 or more than 30, the brand succeed in reaching them, through partnerships from six flags,restaurants, fast foods such as McDonald’s or Loyalty from customers.
Finally, Coca Cola consider each customer as a target and a potential consumer. All age groups are being targeted but the most potential is the age group from 18-25 that covers a good amount of the age segments.
How do their segmentation strategies differ?
Their segmentation strategies differ in a big way because Pepsi used the segmentation method to target their customers ,but Coca Cola didn’t really structure a segmentation method to target their customers with .They mostly used the positioning method to grow their company. Pepsi focus on customers that wanted to live now ,a more exciting life. While Coca Cola just wanted everybody to enjoy a Coca Cola product, living your life even if its boring or exciting they didn’t care, as long as you had a coke in your hand.