Marketing Plan/Mkt230

Can Lids Unlimited Marketing Plan

Can Lids Unlimited will introduce lids that keep canned beverages carbonated and fresh longer while keeping germs and bugs out.   The lids will be reusable, made out of a thick dishwasher safe plastic material.   The can lids will also be recyclable.   The can lids will be marketed to a large segment of the population: anyone who drinks a soda or beer out of a can.   Can Lids Unlimited will formulate a marketing plan that allows us to reach this huge market segment and be able to be mass-marketed.
Can Lids Unlimited will segment the market by demographics, psychographics and behaviors in order to form target market strategy (Solomon, Marshall, & Stuart, 2008).   Consumer demographics “are statistics that measure observable aspects of a population, including size, age, gender, ethnic group, income, education, occupation and family structure (Solomon, Marshall, & Stuart, 2008, p. 204).”   Consumer demographics indicate that generational marketing would benefit Can Lids Unlimited’s target market strategy.   Generation X, baby boomers, and teens are likely to consume canned beverages.   Also, ethnic groups, like Hispanics and African Americans are inclined to drink canned beverages.   According to PRIZM, by Claritas, Inc., which is a large database of geodemographic information, the “Blue-chip Blues” cluster is upscale blue collar families who range in age from 35-64, have white collar and blue collar occupations with an average household income of $47,500.   The “Blue-chip Blues” cluster is most likely to drink Coke (Solomon, Marshall, & Stuart, 2008).    
Segmenting by psychographics will further help Can Lids Unlimited in forming a target market.   “Psychographics segments consumers in terms of psychological, and behavioral similarities such as shared activities, interests, and opinions (Solomon, Marshall, & Stuart, 2008, p. 213).”   The VALS 2 system helps match products to particular types of people (Solomon, Marshall,...