The paper "Colgate-Palmolive Australia Pty Ltd Target Market" is a good example of a marketing case study. Business success is defined by the level of profits generated by a company or an organization. Given the fact that the main aim of every business is to maximize profits, companies and organizations usual set some strategies that direct them to their desired level of success. Among the set strategies are the marketing strategies which enable a company to sell more of its product. Large volumes of sales with minimal expenditure results to high levels of revenue generated resulting in high profits and hence success (Goldman 2012).
In implementing the marketing strategies, business techniques are normally used some of which are; the marketing mix model, the SIVA system, PESTLE analysis and the Segmentation and Portioning model. The marketing mix is the most famous model used in implementing marketing strategies. The model entails mixing various components of a product known as (4Ps), product, promotion, place and price so as to come up with an optimal combination that generates the highest possible level of profits with fully customer satisfaction (Shapiro 2001). Colgate-Palmolive Australia Pty.
Ltd target market Colgate-Palmolive Australia Pty. Ltd was found in the year 1921. The company is a part of the large company Colgate Palmolive in the United States. Colgate- Palmolive Australia Pty. Ltd is a well-established business. It has four main market segments; medical sensitive, taste, economic, and beauty conscious. The medical segment is slightly narrow to provide an introduction of more pioneering products like the Colgate Total Grind Control. More consumers in the medical segment make purchasing decisions based on environmental factors (Dufour, 2008).
The pie chart below shows the Australian target market. Consumers’ needs The economic segments consumers demand low price product so as to minimize the total costs. Human beings are rational and so they also seek to minimize cost while maximizing the optimal satisfaction derived from consuming a product. As the economic segment demands for low priced toothpaste, they also demand high-quality products. The medical segment consumers’ needs are a healthy product. This consumers value more health than the price the toothpaste is sold at (Frey 2012). The taste segments demand for toothpaste brands with good taste despite the price and the beauty conscious segment base the purchasing decisions on how the product looks.
This group of consumers goes for beautiful brands despite the price level. Marketing mix In striving to make more sales, the company has some marketing strategies which help in performing business operations. For effective implementation of the marketing strategies, Colgate-Palmolive Australia Pty. Ltd uses marketing mix as its business technique. Marketing mix as earlier defined is the combination of the various products components 4Ps in order to come up with the optimal combination that generates high-profit level with optimal customer satisfaction (Dick man 2007). Product The studied product from the Colgate-Palmolive Australia Pty.
Ltd is toothpaste. Toothpaste is a product line with various flavors such as Colgate, aloe, cupcake, jasmine, scotch, eggplant, bacon, chocolate, pickle, and curry among many others. The various flavors of toothpaste help in meeting the needs of consumers from all the four segments. The medical segments consumers’ needs of having healthy toothpaste are satisfied by flavors like aloe toothpaste. The economic segments consumers’ needs are satisfied by the low price brands of toothpaste such as Colgate which has a slightly low price compared to the other flavors (Baker 2010).
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