Kiki is a recently established magazine in 2007 targeted to young ladies between the ages of 9 and 14. It’s unique design-based content and philosophy makes it one of the fastest growing magazines in a short period of time. Kiki’s philosophy is “the promotion of self-confidence among young girls [without exposing young girls to commercialism or sexualize them].” The company’s current marketing strategy is brilliant and complies with its philosophy and code of ethics. However, Kiki should consider conducting an extensive research on how to increase their percentage growth when it comes to circulations and new comers as well as how to increase their renewal rate. This research should establish a well planned marketing strategy with a marketing …show more content…
Moreover, the research should also be an applied research with a specific market segment or niche, a selected demographic segment as well as geographic segmentation and an identified segmentation bases. This will allow the company to understand the consumer, the indirect consumer—which in this case would be the parents, and understand the possibilities of globalization. Effectively conducting this research will in turn increase profit in five year just like the financial department anticipates and increase circulations, new subscribers, and the renewal rate.
This research will provide Kiki with data to be analyzed and a position as to where it stands in the competitive market. In order for Kiki to start its research it first needs to establish a few steps. First Kiki needs to come up with a marketing strategy to launch a marketing plan, a market objective and a
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Moreover, they will also establish a mission statement for the niche and evaluate the cost of the further action to be taken into account. For example, they need to consider the new strategies to attract new subscribers, strategies to increase the renewal rate, and strategies to expand their geographic segmentation. Some ideas for increasing new subscribes are to increase research on rising generations to be collected every five years in order to understand its new consumers and their demand. By understanding new generations the company will be educated on the market and will be able to ask the right question and deliver quality products. Moreover, Kiki could increase their renewal rate by creating a new niche where they create a new target market and adjust to their demand. For example, they could create a niche where they focus on ages 15 to 20 and maintain the company philosophy by inspiring the young teens to aspire towards a big future and dream big. They could achieve this by addressing the topics of college, real life scenarios, fashion trends and how to create their own style and becoming self-aware which will increase their self-esteem. Lastly, the company could expand it geographic segmentation by expanding into the global market
The methodology of this research project included both qualitative methods and quantitative methods. The qualitative methods were used for primarily background information and specific examples of respondents that would be considered part of the target market. The quantitative methods included a distributed survey and a collection and analysis of the results using statistical software.
Advertising is form of communicating and using methods into getting the buyers to purchase a product. Cosmopolitan has done a good job in determining what readers and listeners want and need. Cosmopolitan is a magazine directed toward young people who have low self- confidence and low self-esteem and also who care about health and appearance. As Fowles said, “By giving form to people’s deep-lying desires and picturing states of being that individuals privately yearn for.” (Fowles, 137). All advertisers know who and what readers wish or long for.
Marketing research is the systematic design, collection, analysis, and reporting of data and its findings relevant to the specific marketing situation that a company faces (Kotler, 2012). By researching the motorcycle rider, Allstate is able to identify who they are and what they experience. In 2008, Allstate conducted a “Who’s Behind the Helmet” survey. They defined their qualifications as a motorcycle owner who is 18 years of age or older with an income of $50,000 or more. (Floyd, 2008). The 500 person sample size produced insightful and interesting details for Allstate. Jeff...
Firminger examines the ways these magazines represent young males and females. She reveals that these magazines talks about the physical appearance of young girls but also their sexuality, emotions, and love life. The author informs how the advice given by the magazines is negative. The author also argues that these magazines focus more on their social life than how their academic performance
Firstly, one of the most important focuses would be given to the target customer as we will need to know more about their taste and preferences. What it is they need and or want. Particular topics covering this area will be, the need for ‘Market segmentation’, identifying a competitive position in the market about to enter in the market and studying consumer behaviour, will all be discussed.
Have you ever looked through a magazine and found it to be really interesting? That is because you are part of its target audience. You are part of a group of people that the magazine is trying to appeal to. There is a reason Sports Illustrated is more of a man’s magazine and Family Circle is more of a woman’s magazine. The people that run that magazine put certain things in those magazines to attract their audience. More commonly, men are interested in sports and anything to do with sports. In Sports Illustrated, the reader would find sports, and that is it. The reader would not find an article titled “How working women balance their careers and home lives.” An article such as that would be found in a magazine like Family Circle, as it is targeted more towards women who have a family. For the purpose of this audience visual analysis, I will be discussing the October 8th, 2012 issue of People magazine. Looking at this issue and reading through the magazine, it is evident that the publishers do have a target audience in mind. This visual analysis will discuss who its target audience is and how the reader can tell. Also, the essay will discuss how the magazine makes the advertisements relevant to its audience.
d) Enlarging new customers. Research on the consumer purchase behavior is an essential need. The analysis data will provide more information on who, how, and why to buy, and also understanding the competitors marketing strategic plan. Secondly, by analyzing the majority of subscribers age group, gender, preference items. Sending regular email on current promotion items and offer them with the 1st trial discount voucher to convert the subscribers into customers.
Kinko’s has been losing revenues and market share over their competition for the past years; reason why its directors have been doing market research to understand the causes of their business slowdown. It’s fast growing market had substantially developed an ongoing business model, facing changes, rapid expansions & even mergers. Their model of service solutions was not fitting their customer’s needs any longer…now it is needed to increase revenues and fast.
These issues could have been resolved if a proper market analysis was done. The outcome of this research could have suggested that it best suits highly populated areas. The objective of this research is to help a company or an entrepreneur understand the business environment better as well as customers’ needs and, therefore, make better business decisions. Once the market research data is compiled, it is then evaluated upon which recommendations and conclusions are drawn.
Malhotra, N.K., 2002. Basic Marketing Research: A Decision-Making Approach. Upper Saddle River, New Jersey.: Prentice Hall.
Briefly it is a systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company, allows management to make the changes necessary for better results through adopting a proactive approach. Therefore, if a company wants to know what type of products or services would be profitable it should make a market research. Furthermore, a comprehensive research will enable the company to know about the product imperfections (if there are) and to know if it has been able to satisfy customers’ needs. It attempts to provide accurate information that reflects a true state of affairs. Due to market research the company can formulate a viable marketing plan and estimate the success of its existing plan. There are two main sources of marketing research information:
Grover, R & Vriens, M 2006, The handbook of marketing research: Uses, misuses, and future
On the other hand, weaknesses existed. The primary research was the most difficult and frustrating sector, for it was difficult to keep in touch with the potential competitors; hence, a chance to learn more and analyse deeper from the potential competitors was missed. To conclude, the result and analysis of primary and market research which was based on the questionnaire was not convincing enough, and it was the main sector which needed to improve in the future.
Naturally, research design is the plan and structure of investigations.so conceived as to obtain answers to research questions. The plan is the overall scheme or program of the research. The prime focus of this research is determining the market share analysis for Vodafone, for which a questionnaire was prepared and field survey was carried out, which formed the basis for entire research.
Nevertheless, one of the most important constants among all of us, regardless of our differences, is that, above all, we are buyers. We use or consume on a regular basis food, clothing, shelter, transportation, education, equipment, vacations, necessities, luxuries, services, and even ideas. As consumers, we play an essential role in the health of the economy; local, national and international. The purchase decision we make affect the requirement for basic raw materials, for transportation, for production, for banking; they affect the employment of employees and the growth of resources, the successfulness of some industries and the failure of others. In order to be successful in any business and specifically in today’s dynamic and rapidly evolving marketplace, marketers need to know everything they can about consumers; what they are want, what they are think, how they are work, how they are spend their leisure time. They have to find out the personal and group influences that affect consumer decisions and how these decisions are made. In these days of ever-widening media choices, they need to not only identify their target audiences, but they have to know where and how to reach