Brand Rivalries and Consumer Behavior There are many brands out there that we all know that have rivalries with other companies. For example, Pepsi vs Coke, Dunkin Donuts vs Starbucks, FedEx vs UPS, the list goes on and on. Creating a rivalry between the companies creates the notion that one is better than the other. This strategy allows the company to take advantage of that narrative and show why they are superior, increasing the amount of loyal customers. However, it can also rub the opposing side the wrong way. Likely guaranteeing you won't get their business. While this strategy can have its advantages, it's also risky. The opposite strategy, Praising, can make the brand seem more real and authentic. It promotes inclusivity and collaboration, likely making the brand appear positively to consumers. This can make people more inclined to purchase from them as they may share similar values. On the other hand, promoting another product or company can be tricky, risking taking ...
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Market Segments for Bloom Sparkling Energy
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2-1 Blog: Market Segments Recently I purchased a sparkling energy drink from the brand Bloom. I've been wanting to try an alternative to coffee and a family member said these were good. Then I noticed my coworker was drinking one, so I took it as a sign to give it a try! The main, obvious market segment that Bloom uses is appealing to customers who are health and wellness conscious, like myself. Bloom focuses on clean ingredients as well as added health benefits, and is sold as an alternative to competing energy drinks like red bull or celsius. According to our book “market segmentation is the separation of a market into groups based on the different demand curves associated with each group” (Babin & Harris, 2021) . For bloom to successfully reach this market segment they had to apply multiple segmentation strategies. This includes things like targeting a specific gender or age group through trends or packaging as well as using intriguing health claims that make them sta nd out...
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1-2 Blog: What Type of Consumer Am I? I would say the segment of consumers that best describes me is autonomous or an experiencer. I say this because I'm younger, like to try new things, and tend to be very impulsive with my purchases. When it comes to my buying decisions for non-essential items, I am most influenced by current trends, images, videos, and ads that come up on social media, as well as packaging design or colors that stand out. The vivid visuals and engaging content created by brands on platforms like Instagram and TikTok draw me in and spark my interest. For marketing research, I am easily influenced by sales or promotions because it makes me feel like I need to act on the deal now so I don't miss out! The fear of missing out (FOMO) is a significant driver for me, especially when I see limited-time offers or flash sales that create a sense of urgency. In the traditional consumer decision-making proces...