The J M Smucker is an American Company. It manufactures products like fruit spreads, ice creams, and natural peanut butter.
Expansion in the Mexican Market
The goal of the J M Smucker Company is to sell peanut butter in the Mexican Market. The Company has decided to focus on only two age groups in Mexico. First age group includes children belonging to the age group of 4-14. The second age group includes youngsters from the age group of 15-24. The total population of Mexico in 2014 was 119.6 million from which first group comprises of 20% children and the second group comprises of 23% youngster. The company will increase its market share by targeting these two particular age groups. The reason behind targeting these two groups is the nature of the product .
Age group: 4-15
Usually working women does not have enough time to prepare breakfast for their children. Peanut butter will be beneficial for such working women to feed their children with butter on sliced bread. They can also please their kids by serving peanut butter with jam, honey or chocolate. Such combination will add taste to the breakfast of children. Keeping in consideration the consciousness of the mothers about the health of their children, the company will achieve its target easily by providing its nutritious and healthy product .
Age Group: 16-24
Furthermore, youngsters from the age of 15-24 are mostly college students. College and university going students are mostly independent and use to do their work by themselves especially preparation of breakfast. The product of the company can assist this age group in preparing the breakfast and lunch without taking the help of others. Moreover, high consumption of this product in other countries has proved that children and youngster prefer to have peanut butter in breakfast than any other product.
Lamb, Charles, Hair Joe and McDaniel Carl. Marketing. Boston: Cengage Learning, 2012.
McDonald, Malcolm. Market Segmentation: How to Do It and How to Profit from It. Hoboken: John Wiley & Sons, 2012.