Target Market Analysis

687 Words3 Pages
Transport and Logistics Assignment 2 Marketing mix Marketing is the process of planning and executing the conception, promotion, pricing and distribution of goods and services to create exchange that satisfy organizational or individual goals. We call them the four “P’s” to reach business goals for more efficiency Target market within the broad transport industry. a Target market involves breaking the upmarket into different segments. The three common types are geographic, demographic and psychographic. In a broad transport you should have a look at what your options are like flight, shipment, truck and railway. First you have a look at a geographic segment and ask yourself the question, where are you based or where do you want to be based? How many “feet” are around you? For a transport industry like running a bus for short distances your location should be in based in the city. Secondly you should have a look at the demographic segment. What group of people are you going to target? Is it going to be the age group or income etc.? For a short distance bus industry your target market will be for example business people getting to work on time and during the day to go out and see clients and for meetings. Thirdly you have to look at your psychographic segment. You have to do research on you consumer lifestyle and will they be loyal to your company. When you take the bus example with a target market for business people, your bus should be comfortable for their needs. Marketing mix for an airline between Johannesburg and Cape Town Airline name: On-Board Courier and Passenger flights The service we offer On-Board Courier and Passenger flights offer solutions for when you urgently need to fly or sent a package or documen... ... middle of paper ... ...board next to busy highways. - Publicity and public information Publicity is another way to the name out there. You can make use of popular newspapers like Beeld, Sunday Times and Business newspapers. You can also have press conferences. The Price Policy Firstly we have a look at the individual cost. You have to take overheads, standing and running cost into account and work your profits and tariffs charge according to the above mentioned. All your costs must be covered by your tariff charged to ensure maximum profits. Second look will be at the incremental cost. In certain cases your costs will vary, it distinguishes between variable cost and overhead expenses. A Third look is at value of service. This look determines the maximum tariff to be charged. What is the demand for this service? Tariffs must be set in a way that the maximum revenue is obtained.
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