Scribd
Upload
42 views

Political Economic Social: Geographic

This document discusses key target groups for introducing a new gin product to the Chinese market based on secondary research. The primary targets are high-net-worth individuals aged 35-45 in the tier-1 cities of Shanghai and Beijing, as these cities have a large foreign presence and economy as well as over 1.34 million high-net-worth residents with a growth rate of 10.7% who could afford the luxury product. The targets also value British culture and luxury UK brands and regularly consume alcoholic beverages.

Uploaded by

amy
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
42 views

Political Economic Social: Geographic

This document discusses key target groups for introducing a new gin product to the Chinese market based on secondary research. The primary targets are high-net-worth individuals aged 35-45 in the tier-1 cities of Shanghai and Beijing, as these cities have a large foreign presence and economy as well as over 1.34 million high-net-worth residents with a growth rate of 10.7% who could afford the luxury product. The targets also value British culture and luxury UK brands and regularly consume alcoholic beverages.

Uploaded by

amy
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

Political Economic Social

 Australia  Strong  Higher


manufacturers economy Education
must adhere to (Index of  Health
strict Economic Conscious
regulations Freedom ,
2018)
 Australia 2016  Increase level
food index of income
policy (ASFIP,  Low inflation
2016) rates
 Burnett-Fell et
al. (2011)
Drought

Technological Environmental Legal


 Automated  Environmental  Australia
Equipment  Food and consumer law
 E-commerce wastage (Australia
transaction and strategy Trade and
Social media (Australia Investment Ltd,
( E commerce Gov’t, 2017) 2018)
Australia 10 key  Promotion of  Product liability
insights, 2015) bio degradable Regulation
and recyclable
packaging
 Land
Conservation

Newton (n.d.) believes that to succeed in business you do not need to “sell your product
to the whole world”.
Therefore, the secondary research has recognised key target groups that have the
potential to provide the best return on investment to Sipsmith. The following provides
the initial target group which is believed to have a significance to the success of the
introduction of this product to this market :
Geographic:
Tier-1 cities of Shanghai and Beijing
Beijing and Shanghai have a significant foreign commercial presence and South China
morning post (n.d.) reports the following demographic statistics:
 
Beijing
 
GDP US$319.719 (Worth in 2013)
Politics Directly controlled by the National Centre
Population 21,500,000
 
Shanghai
 
GDP US$352.292 (Worth in 2013)
Politics Directly controlled by the National Centre
Population 35,965,403
Over 1.34 million High-Net-Worth Individuals live in Shanghai and Beijing, who have a
growth rate of 10.70% to these geographic areas should be targeted (Creienglish.com ,
2017).
Demographic:
Gender Male – as predominantly more frequent drinkers in China
Age Crummy (2012) reports that 80% of Chinese millionaires in the geographical
areas of Shanghai and Beijing are below 45 years old. Therefore, the target age group
will be 35-45 years old
Social Status High-Net-Worth Individuals as they have the affordability of this luxury
product and will contribute to the bottom line
Psychographic:
•Lifestyle influenced by British culture, and those that value luxury products from
the UK
•Consumers who value brand loyalty, to ensure a repeat in business and also an
opportunity of offering other products from this brand in the future
Behavioural:
•Consumers that drink alcoholic beverages regularly, and

You might also like