San Miguel Light
TARGET MARKETING
As of now, San Miguel Light’s target market is old people or those people (specifically men) who are married and who are 30 years old and above. Most of them are also from the higher class or the social class A and B. But for our expanded target market, we would like to include young teens (specifically ladies). If you ask an 18-year old lady what they would rather drink, vodka or San Miguel Light, they’d choose the vodka since it is ‘stronger’ and at the same time it tastes better. We would like to eradicate this impression by making the taste of San Miguel Light better compared to the other brands; by doing this, we’ll be able to capture not only the old people but also the youth. We also rarely see people in the streets drinking San Miguel Light. This is probably because the price isn’t affordable for them. We would like to also put social class C in our expanded target market. We can do this by lowering down the price or by creating an effective pricing strategy.
(Expanded target market) * Demographic characteristics * For young aged people around 18-26 years old * From the social class C.
* Psychographic Characteristics * People who are working or studying
* Behavioral Characteristics * Buy 2 bottles daily * They drink in order to unwind themselves from work/study and to socialize or get together with friends and family
PRICING OBJECTIVE * To maximize profit and to keep the product affordable for the middle and lower socio-economic sectors by maintaining a moderate pricing strategy.
PRICING STRATEGIES * In order to achieve affordable prices and to maximize profit, San Miguel Light should be served in smaller bottles (Just like Coke Sakto) and increase production.
COMPUTATION OF SELLING PRICE * Compute for your total product cost (fixed cost + variable cost) * Profit + total product cost= selling
As of now, San Miguel Light’s target market is old people or those people (specifically men) who are married and who are 30 years old and above. Most of them are also from the higher class or the social class A and B. But for our expanded target market, we would like to include young teens (specifically ladies). If you ask an 18-year old lady what they would rather drink, vodka or San Miguel Light, they’d choose the vodka since it is ‘stronger’ and at the same time it tastes better. We would like to eradicate this impression by making the taste of San Miguel Light better compared to the other brands; by doing this, we’ll be able to capture not only the old people but also the youth. We also rarely see people in the streets drinking San Miguel Light. This is probably because the price isn’t affordable for them. We would like to also put social class C in our expanded target market. We can do this by lowering down the price or by creating an effective pricing strategy.
(Expanded target market) * Demographic characteristics * For young aged people around 18-26 years old * From the social class C.
* Psychographic Characteristics * People who are working or studying
* Behavioral Characteristics * Buy 2 bottles daily * They drink in order to unwind themselves from work/study and to socialize or get together with friends and family
PRICING OBJECTIVE * To maximize profit and to keep the product affordable for the middle and lower socio-economic sectors by maintaining a moderate pricing strategy.
PRICING STRATEGIES * In order to achieve affordable prices and to maximize profit, San Miguel Light should be served in smaller bottles (Just like Coke Sakto) and increase production.
COMPUTATION OF SELLING PRICE * Compute for your total product cost (fixed cost + variable cost) * Profit + total product cost= selling