Bunn-O-Matic Coffee Maker Research Paper Example | Topics and Well Written Essays - 1000 words

Bunn-O-Matic Coffee Maker - Research Paper Example Upon discussing the importance of marketing concept over the profitability of Bunn-O-Matic, this essay will focus on identifying the company’s target market for Bunn-O-Matic Coffee Maker by conducting market segmentation. Eventually, the rationale behind the target marketing strategy used by Bunn-O-Matic will be thoroughly explained. Increasing the company’s sales and profitability is the main goal of Bunn-O-Matic. Given that each individual have their own specific needs and wants, the study of marketing should be focused on allowing the company to address these concerns. Some products could satisfy the specific need of consumers. Included in the study of marketing mix or the 4 P’s known as price, product, promotion (marketing communication), and place (distribution); the product preferences of Bunn-O-Matic’s target consumer can be guided by marketing variables such as the product value, cost, customer(s) satisfaction, and market distribution (Kotler & Armstrong, 1997, p. 52; McCarthy & Perreault, 1993, p. 46). The study of marketing is a very broad subject that aims to improve the company’s financial performance not only through selling and advertisements but also in finding ways to develop and establish a good relationship with the target customers. Therefore, it is wrong to believe that the study of marketing is focused only on selling and advertising. It is easier for Bunn-O-Matic to identify its target market by dividing the consumers into subgroups (Roger, 2005, p. 15). For Bunn-O-Matic coffee makers, dividing the consumers into subgroups is possible by developing specific market segment of consumer characteristics related to demographic, psychographic, and geographic factors (Kotler, 2000, p. 8, 263). Demographic segmentation examines a wide-range of variables including age, size of family, family life cycle, gender, income, occupation, educational attainment, religion, race, generation, nationality, and social class of