Reference no: EM133501494

Assignment: Market Sizing and Targeting for Yogurt

Summary: In this assignment, Please estimate the market size for yogurt in Poland. The goal is to understand the different steps in the process of computing the size of a market (both in units of product and revenues) when planning the expansion to a new market (Poland, in this case). Then, you will identify segment(s) that are especially promising to target, and describe the expected psychographics and lifestyles of those segments.

Below, you will find information about the population of Poland by age and income bracket (Table 1) and the average consumption of yogurt per Pole by income bracket (Table 2). You will also make the following assumptions:

• Average consumption in each income bracket is the same across age brackets (i.e., each age group in each income bracket consumes on average the same amount of yogurt).

• The average retail price of yogurt in Poland is $3,510 per metric ton.

• The yogurt market in Poland is at a mature stage but still growing at about a +1.2% compound annual growth rate (CAGR). That is, most consumers in the market consume yogurt, but at different average rates.

Now, please answer the following questions:

1. Estimate the total size of the yogurt market in Poland in terms of metric tons.

2. Estimate the total size of the yogurt market in Poland in terms of US$.

3. Compare and discuss the relative sizes of the yogurt market in Poland (in metric tons) for various age and income segments. Be specific.

4. Based on your analysis, which demographic segment(s) offer the greatest potential? (Hint: Pay attention to the total size of the segment(s), the potential revenue per customer and in total, and the likelihood of developing an efficient marketing mix [4 Ps of product, promotion, place, and price] to win consumers).

5. Turning to psychographics, what type(s) of psychographic categories would you want to target within the demographic segment(s) that you identified as promising targets? Discuss at least one psychographic category for each demographic target segment and explain your choices.

6. Develop at least one sketch of a desired customer persona for each of your demographic target segment(s). You may reference VALS categories (e.g., "believers," "achievers") or use other labels to describe the desired lifestyles, opinions, and interests of your target audience(s) in your assigned country Poland. Make sure your sketches are vivid and provide insight that can inform a marketing communication strategy. You will need to make some assumptions.