General Motors Target Market Analysis

SECTION 3: TARGET MARKET: A full description of the current market segment(s) and identification of an existing or new target market to be the focus for the remainder of the strategic marketing plan, including a discussion of why this target market represents a growth opportunity for the company. Description of target market must be extensive and based on the criteria for segmenting consumer markets as outlined by Kotler. Also discuss the positioning strategy to be used for this chosen target market.
This section describes the customers we are targeting. It defines their demographic profile (e.g., age, gender), psychographic profile (e.g., their interests) and their precise wants and needs as they relate to the products and/or services you offer.
General Motors current target market is concentrating on four markets Brazil, China, India, and Mexico. They are building a variety of vehicles starting with small compact cars and utility vehicles for sales in these markets. The idea is to look at the needs of these developing countries and act on the needs through new vehicles. Even though China had a huge increase in sales from YTD 2015- YTD 2016, the U.S. still dominates the sales market for GM. In order to make GM the leader in the market, the new target market recommended is as follows:

Target markets: recent college grads ages 22-25
This

(Bradbury, 2015) This group consists of males and females, age 50-64, with a median income of more than 60,000. Moreover, they are living longer through focusing on a healthy lifestyle, feeling increasingly youthful, remaining engaged, active, and more fulfilled, therefore, prolonging their youthfulness. Furthermore, they have significant wealth and spending power due to the fact that they have well-established income and some are newly retired and are looking at other ways to spend their