Who

Identification of Consumer Buyer Characteristics

i. Level of Involvement of Consumers who Purchase the Product / Service

ii. Situational, Psychological and Social Influences on Buying Decision Process 

Situational Influence: This refers to the impermanent conditions that impacts how the consumers behave. It is primarily concerned with whether the consumer really purchases Boost’s product or other supplementary product or they do not purchase them at all (Jung, Yan & Eckman, 2014). These factors acts as important interfering variables amongst the moderately unvarying family framework and behavior related to buying decision.

Psychological Influence: The psychological influence refers to consumers’ behavior based on the needs, perception, attitudes, personality, learning, lifestyles and self-concepts (Mohan, Sivakumaran & Sharma, 2013). Needs are seen to motivate the buying behavior. Perception on the other hand refers to the selective behavior where the human mind is able to view the world and information that reaches it results in defining the base of perception that takes the ultimate decision. Advertisements put forward the commercial message that convinces the consumers in trying the Boost products.

Social Influence: This refers to the influence of the family, social class, opinion, subculture and culture (Servaes & Tamayo, 2013). The influence of the social factors is reflected in the activities and actions of the undertaken by the consumers in making a purchase. Amongst, all the social factors the consumer’s family and culture plays a key role since they contributed in shaping the consumer behavior and attitude.

iii. Eight Types of Market Segmentation of Boost Juices

Market segmentation enables Boost Juice Bars in identifying the market it must tailor for it freshly made smoothies and juices based on the consumer behavior, characteristics, income and need (Canhoto, Clark & Fennemore, 2013). Some of the potential segments of the juice market: 

• 10-16: They represent the category of the teenage children that prefers products with higher calorie and carbohydrate for matching the lifestyle.
• 16-24: This represents males and females having an annual income of less than $10,000 per annum. They visit the juice bars once in a weekend with taste preference over nutritional content.
• 24-35: They represent the older and full time workers and women living separately and having an annual income of $50,000 to $80,000 per annum. They frequently visit clubs and bar and are mostly health conscious people.
• 35-45: They represent the family people living with the families and are mostly health conscious
• 45-55: They represent working middle-aged groups with health related disorders and has a higher preference for products having nutritional value.  
• 55-65: They are mostly the retired groups who has health related disorders and a higher preference for products having nutritional value.
• 65-75: They are mostly the old retired people who are mostly diabetic and most prefer products that have higher nutritional value with lesser sugar content.
• 75-85: Most people in this category are ailing and depend on pension. They prefer natural products with higher nutritional value.

However, the most profitable target group for Boost Juice Bar would be 24-35 year old men and women who are independent but also earns a decent living and is increasingly health conscious(7). Some of the characters include:

Demographic: Boost Juices specifically the consumers within the age group of 25 to 35 years of age as they are young, moving and prefers a healthier alternative. According to the Australian Health Survey close to 1.6 percent of females consumes vegetable and fruit juices as oppose to 1.5 percent males.

Geographic: Boost Juices operate mostly in the populated urban areas located within enclosed environment like shopping centre thereby by making the products accessible to the consumers and under the same menu.

Psychographic: Boost Juices introduce products with unique naming to tickle the psychology of the buyers.

Behavioral:  Smoothies and juices made from fresh fruits and vegetables have higher nutritional value and antioxidants and are highly preferable by the highly health conscious buyers.

Socio cultural: In a nation facing too much of obesity, Boost Juices are on the mission of making juices healthier. It offers a lower calorie of smoothies and juices along with a green range that offers more anti oxidants and nutrients.  

Economic: Boost Juices offers products at a price range afforded by the targeted segment(8).

Related Segmentation: To encourage more consumers, Boost Juices uses fresh fruits and vegetables containing fructose and higher amount of vitamins and minerals for healthy bones and gut health.

Benefit Segmentation: The price in combination to the health choices put forward by juices and smoothies of Boost Juices has boosted its sales.

Hybrid Segmentation:  Boost Juices offers every variety of juice for satisfying the needs and encouraging a healthier lifestyle irrespective of education, occupation and lifestyle.

d. Buyer Persona

Positioning Statement:

To the young health conscious people, Boost Juices provides highly nutritious and delicious fresh juices and smoothies with no additional flavors.   

f. Positioning Map:

References:

Canhoto, A. I., Clark, M., & Fennemore, P. (2013). Emerging segmentation practices in the age of the social customer. Journal of Strategic Marketing, 21(5), 413-428.

Jung Chang, H., Yan, R. N., & Eckman, M. (2014). Moderating effects of situational characteristics on impulse buying. International Journal of Retail & Distribution Management, 42(4), 298-314. 

Mohan, G., Sivakumaran, B., & Sharma, P. (2013). Impact of store environment on impulse buying behavior. European Journal of Marketing, 47(10), 1711-1732. 

Servaes, H., & Tamayo, A. (2013). The impact of corporate social responsibility on firm value: The role of customer awareness. Management science, 59(5), 1045-1061.