In order to match their magazine to the exact people who will value it, it is paramount that Kiki has reliable and trustworthy market research. In order for Kiki to reach their target market, they need to start by understanding what the customer wants. First, they must take advantage of primary and secondary data. Primary data originates directly from the source, and this can be accomplished through focus groups, surveys, and interviews. Secondary data comes from other sources like the government, universities, companies, etc. As the United States Census informed us, there is market potential available for Kiki to take advantage of. There are 10 million girls from the ages of 10-14 in the United States, which is the target market. The reason why secondary data is so useful is that it is generally cheaper than primary data because someone else has already done the research for you. Other examples of useful secondary data can come from other companies in their industries. Because of the research that was done on their competitors, it is public knowledge that there are already 250 magazines tar...
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...lly have customer’s in Kiki’s target market come to their offices. There is usually always a wait at the doctor, so that is a prime opportunity for Kiki magazine to get in the hands of their target market.
In conclusion, Kiki magazine is a hip, stylish, empowering magazine for your not so typical market segment, the tween generation. Kiki has a bit of an initial setback because they prohibit the use of advertisements from companies. Because of this, Kiki must gain most of its profit from people buying their magazines. However, the more the company knows their target market, the more likely they are to be profitable. The more you know the wants and needs of the customer, the better prepared you are to provide for them a service that is valuable and obtain the majority of the market share. Market research is the key to Kiki reaching their full market potential.
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