Product Reassessment Essay Example | Topics and Well Written Essays - 1250 words

Product Reassessment - Essay Example With respect to gender, 80% of beer consumers using SABMiller products are male. Women account for 20% of SABMiller’s products consumed. The company’s market segments in the US are dived into 21-27 year olds. The Latin America population segment, the African Americans population segment and finally the 50 years or older population (SABMiller 2010). The target market for SABMiller has grown steadily in the past. 9% of the Latin Americans consume SABMiller products. SABMiller has positioned itself in the market to expect a 13% growth in consumption of beer by 21-27 year olds, a 32% increase in consumption of its beer products by Latinos, 15% increase in consumption by African Americans and 25% increase in consumption by individuals who are 50 years and above. As at September 30th 2012, the company’s sales rose by 4 percent in Latin America (Geller, 2012). This shows that the company has positioned itself strategically to solidify it position as the number two brewe r world wide. The company has adopted a strategy to promote its products in the existing markets in the US and avoid markets that are either too volatile or too small. Types of research needed to reposition SABMiller products Branding research SABMiller requires to embark on branding research in order to reposition its beer products. Branding research is instrumental in creating a brand that has a positive and rusted image in the mind of customers and stakeholders. Branding research enables the company’s products to be structured in a way that reflect the products as the best in the market. Through this research, SABMiller will put strategies to make its customers see, hear, experience and believe the company’s products are the best in the market. Branding research provides information that is utilized to increase brand awareness, brand recognition, and improve the perceived quality and credibility of the company. SABMiller needs to undertake branding research to posit ion its brand strategically and ultimately increase the company’s sales and profits (Vernom research group 2012). Business forecasting research. It is paramount for SABMiller to undertake business forecasting research to focus accurately on business trends. This is vital for the company to reposition itself as one of the best brewing companies in the world. This type of research assesses the opportunities for new technologies as vital elements to reposition the company’s products. Business forecasting provides information on how the company is supposed to use its resources. The resources are used to identify the market that is vital with respect to the company’s operations. Through business forecasting research, SABMiller will understand the customer’s acceptance of SABMiller’s products and customer’s likelihood to purchase its products (Vernom research group 2012). Image and advertising research According to Vernom research group (2012), SA BMiller’s repositioning among the fierce competitor should focus on boosting its image in the beer industry. This information should be obtained through conducting image and advertising research. This type of research aids the company to put more emphasis on its brand image when repositioning. Image and advert