Centrum Silver: Evaluating Marketing Communications and Strategies

This report provides a comprehensive marketing analysis of Centrum Silver multivitamin products, examining its current marketing communications, competitive positioning, and target market segmentation. The analysis includes a perceptual map comparing Centrum Silver to competitors like Berocca, Nature's Way, Blackmores, and Cenovis, based on nutritional value and value for money. The report delves into Centrum Silver's existing marketing strategies, including advertising via YouTube, discount coupons, and social media, and identifies key segmentation themes: demographic, geographic, behavioral, and psychographic. It then presents detailed primary and secondary segmentation profiles for hypothetical consumers, Jack and Sara, highlighting their characteristics, preferences, and behaviors. Furthermore, the report discusses various targeting strategies, recommending a mix of mass marketing and differentiated targeting. Finally, the report offers recommendations for improving Centrum Silver's marketing effectiveness. The analysis is based on secondary research from websites and ranking comparison sites.

P R E PA R E D B Y
I D N U M B E R
Centrum Silver

Perceptual map
Berocca
Blackmores
Cenovis
Nature’s way
Nutritional
Value
Value for Money
Low
Lo
w High
High
Centrum

Perceptual Mapping
• Product : Centrum silver multivitamin for Men, Women, Adults
• Competitors : Berocca, Nature’s way, Blackmores, Cenovis
• Competition based on multivitamin tablets
• Information collected through secondary research , websites and ranking comparisons
sites (canstarblue.com.au, 2019).
• The Perceptual mapping has been done based on:
 Nutritional value for product
 Value for money for that product
 Berocca scores the highest here followed by Centrum
 Centrum on perceptual map
 High on value for money
 Moderate on nutritional value

Existing Marketing Strategy
• Centrum Silver – For Men, Women
And Adult (youtube.com, 2013)
• Multivitamin Tablets : Heart health,
Brain Health, Eye health, Whole
Body Health (centrum.com,
2018))
• Advertising via YouTube, discount
coupons, facebook, Commercial ads

Segmentation
 Market segmentation is a process
to divide your target market in a
group according to you product
features and price (qualtrics.com,
2019), (Segmentation, Targeting
and Positioning (STP) Model,
2019), (Hanlon, 2018)
 Four major themes
 Demographic
 Geographic
 Behavioral
 Psychographic
Demograp
hic
Geographi
c
Behavioral Psychographi
c

Primary Segmentation
•The geographic region of Jack is Perth,
Australia
Geographic
• Jack is a visionary person, perusing his PHD, engaged in
Marshal arts activities, Appropriate physique, friendly
nature, adaptable to changes, has a car and owned home
Behavioral
• Based on the theoretical viewpoints, Jack is energetic
person, Group of friends, Focus on mental and physical
health, Depends on digital media advertisement
Psychographic
•Jack holds the citizenship of Australia, Married with 2 kids, works as
professor in Australian university, perusing his PhD in consumer
behaviour, 39 years old and earns more than 90,000 dollars per year,
spends lavishly
Demographic (25-40
Years)

Secondary Segmentation
•The geographic region of Sara is Sydney,
Australia
Geographic
• Self motivated, health conscious, follows diet, likely to go
shopping and sports clubs on weekend, part of TT inter
college competition, seeks for better learning exposure in
future, may shift to US for further studies
Behavioral
• Young optimism, follow people’s opinion who are like
minded, heavy users of social Media, focus on innovation
and developmental learning, enthusiastic by nature
(.roymorgan.com, 2018)
Psychographic
•Sara holds the citizenship of Australia, Unmarried, works as librarian in
Australian university, perusing her graduation in marketing, 22 years old
and earns approx 20,000 dollars per year, saving orientation.
Demographic
(15-25)

Target strategy
•Targeting strategy is a
process of selecting an
appropriate segment
where the products can
be offered and sold
(individual or a group of
individual )
•Targeting strategy is a
process of choosing right
customers for right
product at right
moment, talks about
selling products to them.
•Specific segment is
being targeted for better
sales
Mass
Marketing
Types of
Marketing
strategies

Targeting strategy for Centrum silver
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• Mix of mass marketing and differentiated targeting strategy will be used
(Vaskovardzic, 2013).
• Centrum silver has a three categories: Men silver, Women silver, and adult silver
• Covers almost each segment of the market (Linchpin, 2019)

References
•.roymorgan.com. (2018). Roy Morgan. Retrieved April 17, 2019, from www.roymorgan.com/:
http://www.roymorgan.com/products/values-segments
•canstarblue.com.au. (2019). Multivitamins Compared. Retrieved April 13, 2019, from
www.canstarblue.com.au: https://www.canstarblue.com.au/health-beauty/multivitamins
•centrum.com. (2018). Centrum® Silver® Adults. Retrieved April 18, 2019, from /www.centrum.com:
https://www.centrum.com/centrum-silver-adults-50-plus
•Hanlon, A. (2018). The segmentation, targeting and positioning model. Retrieved April 2019, from
https://www.smartinsights.com/digital-marketing-strateg: https://www.smartinsights.com/digital-
marketing-strategy/customer-segmentation-targeting/segmentation-targeting-and-positioning/
•Linchpin. (2019). Pharmaceutical Marketing Strategies and Tactics. Retrieved April 17, 2019, from
linchpinseo.com: https://linchpinseo.com/pharmaceutical-marketing-strategies-and-tactics/
•n.a. (2016). Using the Marketing Mix to Reach Target Segments. Retrieved April 17, 2019, from
courses.lumenlearning.com:
https://courses.lumenlearning.com/marketing-spring2016/chapter/reading-targeting-and-the-
marketing-mix/
•qualtrics.com. (2019). The Basics of Segmentation. Retrieved April 17, 2019, from
www.qualtrics.com: https://www.qualtrics.com/experience-management/brand/what-is-market-
segmentation/
•Segmentation, Targeting and Positioning (STP) Model. (2019). Retrieved April 17, 2019, from
www.mindtools.com: https://www.mindtools.com/pages/article/stp-model.htm
•Vaskovardzic, B. (2013, June 26). marketing vitamins-and-supplements. Retrieved April 17, 2019,
from https://www.naturalproductsinsider.com: https://www.naturalproductsinsider.com/branding-
marketing/marketing-vitamins-and-supplements
•youtube.com. (2013, December 23). Centrum Commercial 1995. Retrieved April 18, 2019, from
https://www.youtube.com: https://www.youtube.com/watch?v=zY4iUEO8PRY