Market Segmentation For Wine In Singapore

950 words - 4 pages

MARKET SEGMENTATION
Segmentation factors
The significant rise in Singapore’s wine consumption, in recent years, has lead to the rapid increase in the number of brands looking to enter this seemingly attractive market. In order for Seabrook to gain a competitive advantage and market their Pinot Noir and Shiraz successfully, they need to ensure that they effectively segment their potential customers in order to maintain focus, save resources and provide measurability.

Market segmentation is a useful tool used to identify categories of consumers or groups of firms that are likely to use or buy a product or service (Hall & Winchester, 2001). It is the process of defining and subdividing a ...view middle of the document...

Also, due to their high disposable income, these consumers don’t tend to be price sensitive.

The Aspirational Drinkers
Members within this segment are most concerned with social class and therefore buy brands or labels according to what is fashionable. These consumers are strongly influenced by journalists or wine writers and are likely to attend wine appreciation courses. They are generally well educated resulting in a high disposable income and open to experience.

Beverage Wine Consumers
With little desire to appreciate wine, these members tend to be loyal to a particular style of wine. They are less likely to experiment and therefore tend to be loyal to “safe brands” where price and taste remain consistent.

New Wine Drinkers
Most influenced by their family and/or peers, these young members have not yet established their own preference. Consumers within this segment mostly purchase wine for a certain social occasion or at venues in which an event is being held. Price also appears to be the largest determinant.

Reasons for wine consumption
Singaporeans, generally speaking, are individuals who have a growing desire for adopting a healthy lifestyle. Since wine has recently been promoted for prevention of stroke and cardiovascular disease, consumption of this beverage is on the rise. Although, whether or not this awareness is the reason for the rise in consumption is still unknown.

Secondly, wine and food pairing has become popular due to wine’s ability to compliment certain meals as well as cleanse the palate (Charters & Pettigrew 2008). This pairing has encouraged and therefore increased the consumption of wine when going out for dinner and in turn helps to establish a norm within the society.

Wine in Singapore, as well as most other countries, is a beverage that is commonly associated with social and celebratory occasions and therefore is embedded in the minds of the consumer. Charters & Pettigrew (2008) support this statement by claiming that situational factors such as social contexts are the second most important reason for wine consumption.

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