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Evaluating target market segments
Market segments and targets
Market segments and targets
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3. What are Sonic’s Target Markets? Explain. Determining the target market for the product is integral to the success of the marketing efforts. The question must be asked, “Which are Sonic’s target markets?” The Sonic 1000 PDA is being marketed to the 25-40 years age range. These are working professionals who use these products every day. The Sonic 1000 is designed to make the lives of the users easier. These professionals have busy, fast paced lives. Any device that can help in making the day go easier is a welcome addition. Kotler and Keller say that the target market should be that which “provides the greatest opportunity” (Kotler & Keller, 2009). This definition describes the Sonic 1000’s target market well. The idea behind choosing this market is to take the new product and drop it into the portion of the market that is most interested in this type of device. The PDA market has exploded in recent years and there are no signs of the market cooling off. Consumers look for better, newer products. The goal of Sonic should be to introduce the best product into the market and focus on influencing the 25-40 years age group. A second target market will be the aging “baby boomers”. According to Kotler and Keller, this age group is trying to fight the aging process by staying current and up to date with technology (Kotler & Keller, 2009). These consumers usually have plenty of usable finances and most do not mind spending it. The Sonic 1000 PDA is typically designed to work for any age group and the aging “baby boomers” are no exception. What specific needs does the Sonic PDA address for each target market? The Sonic PDA will meet the needs of this target market. Consumers today want a device that will be multi-functional, dependable, easy to use, and durable. The Sonic 1000 will meet these needs and perhaps even exceed the consumers’ expectations. The goal of Sonic is to produce the best product that the consumer could need and making a competitive PDA is a top priority. The Sonic 1000 has multiple target markets but the product is designed to be user friendly for all potential users. The older target market is looking for a PDA that is easy to use and navigate. These are needs that are understood and the Sonic 1000 is designed to allow the user a variety of options from menu setup to font size.
Eddie Bauer Inc, offers many different products for both men and women who seek versatile, classically styled, high quality merchandise to meet their wardrobe and home décor needs. Eddie Bauer considers the location of its stores to be the most vital factor in achieving maximum sales. The company, however, must determine how it can best identify these locations in order to reach its target market. With recent demographic changes, it is essential that they gather information to answer some key questions in order to do so. (Aaker, Day, Kumar, & Leone, 2010)
Wegmans target market and customer is “everyone”. This is one retail place that gender and economics doesn’t really matter. They take EPT, which is a government aid for those who are in need of food for their families, so it accommodates all people of every economic status. If I had to gear in on a customer, I would say it is appealing to the mother’s out there. Wegmans offer cute double car carts with the steering wheel, so kids are entertained while mom shops. Some of the stores also have the “W-kids Fun Center”, which is where you drop off your kid(s) so they can have fun doing activities while you as a mom shop without distraction.
The retail industry is an important indicator for the overall situation of the Canadian economy. Being one of the biggest employers, according to the latest census conducted in 2011, it was ranked first in terms of share of total employment at 11.5%, with more than 1.9 million workers, which clearly demonstrates the strength of the sector.
under a different name of the Top Hat. Tony Smith started the company as a
Mr. Hawkins vision combined with his personal commitment and desire to constantly improve processes, efficiency, and develop new technologies has proved Jeff to be a leader in innovation. According to Mr Hawkins, "The future of computing is mobile," The PDA is going to be the way people access Internet data and integrate that data with everything else they need to keep track of. This will be most people's PC and Web terminal" (PC Magazine, 2000).
The actual initiative which was proposed to expand the new business is focused on Feleo skills which is teaching on how to use the Feleo smart phone in an old year demographic market. The board of Feleo Group was aware that people could be a good significant demand for its product. The plan and strategy is concentrating on targeting those in demographic areas, in order to attract them to become its customers. The Feleo growth strategy was focused on a single product in the market. Aa a single product the smart phone called SliFone has focused on targeting specifically the age group from 60 to 80-year-old in a demographic region, the board of Feleo Group found out a way to increase its level of the growth in
One particular digital electronics company stuck out above the rest, and that was Sony. With Sony’s recent release of the Play Station 4 and its already successful Play Station 3 model, Sony seemed like the ideal company to invest in for the coming years. With Sony’s wide range of electronic products, including stereos, DVD players, and televisions, and with new technology being developed close to every week, all sorts of new jobs are beginning to open up. Sony happens to be one of the leading manufacturers of electronic products for consumer and professional markets, and in 2013 they had employed over 145,000 people and the number is still increasing with new job fields opening up weekly and more specialists being required to keep up with the changing technology. Their increasing technological ability will also lead to a bigger and brighter future for the American and global economy. With the creation of more jobs the unemployment rate will decrease, and products will become more accessible to families and individu...
Once the target market has been identified it is important to develop a marketing strategy. In today's fast paced, information overloaded society; conveying a message about a product seems to be more difficult than ever. The consumer is bombarded with advertising everywhere they look. Today advertising not only exists on television, radio, magazines, and newspapers, it can be found on billboards, park benches, in our mailboxes, on buses, taxis, at sporting events, and on clothing.
Through statistical analysis and predictive models, use the data to derive the selling benefit, target market, distribution methods, price points, and brand image. Although this process takes serious heavy lifting, RadioShack’s committee must aim to have the interviews and analysis completed in 6 months to have product and service development initiatives for the rest of the rest of the business to work on. Eventually this process becomes part of an iterative and cyclical program that is continuously refining the focus of the organization on products that drive on customer
Mobile is the first order priority device for access because people are connecting with others, finding entertainment, and doing business—all with smart phones. The prices of mobile phones are never over $1,000 in today’s world. They are affordable and accessible. As the result of the changes the worldwide and national business environment has undergone, people own 1-2 cell phones on average. However, the mobile markets in US seems to have been saturated.
Recommendations to achieve a sustained competitive advantage: Online, mobile, and store purchase will certainly increase customer traffic with the online and store combinations gives Target Corporation with a best possible low-cost price. A best-cost provider strategy allows Target to position itself and compete with low-cost providers such as Walmart. In addition, it employs a competitive strategy with a designer label along with superior supply chain, increased operational capabilities, and skilled employees. . The strategy of sending coupons are huge for a customer, so increase discount based on their purchase history and use the store brand credit card to attract more customers.
With all the hype surrounding the iPod post its introduction into the electronics market, it should be of no surprise that iPod’s unmatched demand for such distinct music management tool would lead Apple to add iPod’s features to the most sold electronic device to date: the cell phone. Thus, you get a hybrid called the iPhone. This highly anticipated electronic trend setter without fault had numbers of people waiting in line at the Apple store in New York; iPod fans want to be among the first to explore some of the most innovative phone features to date. Among those features you will find a 3.5 inch touch screen (the largest of all smart phones), Wi-Fi connectivity, the most usage time of all smart phones, i.e. talk time, internet use, or video playback, and many more impressive characteristics. The iPhone has, thereby, revolutionized the cell phone industry to become a potential best designed and most admired phone of the decade.
"Technology is like fish. The longer it stays on the shelf, the less desirable it becomes." (1) Since the dawn of computers, there has always been a want for a faster, better technology. These needs can be provided for quickly, but become obsolete even quicker. In 1981, the first "true portable computer", the Osborne 1 was introduced by the Osborne Computer Corporation. (2) This computer revolutionized the way that computers were used and introduced a brand new working opportunity.
In the 1980s, first generation (1G) cell phones consisted of voice-only analog devices with limited range and features that were sold mainly in North America. In the 1990s, second generation (2G) devices consisted of voice/data digital cell phones with higher data transfer rates, expanded range, and more features. Sales of these devices expanded to Europe and Asia. In the twenty-first century, Nokia and other companies are combining several digital technologies into third generation (3G) communication devices that reach globally and feature the convergence of the cell phone, personal digital assistant (PDA), Internet services, and multimedia applications.
Almost every industry has conformed; using cell phones as a conduit for their message subsequently raking in sales in the billions. On-demand video streaming applications like Netflix and HBO Go, Movies and TV shows can now be viewed in the palm of your hands and music can be streamed with just a swipe. Case in point, music streaming apps like Spotify have over forty-four million active users. With this app available on all major operating systems, allows its users to discover new music by suggesting songs and artists for your listening pleasure all over a wireless connection. The Spotify app even allows its users to search for their favorite singer, genre or song, skip through selections they don 't like, read lyrics and check for concert tickets. Even in the gaming world, phones have bit off a large piece of the pie making it possible for smaller companies to impact the market. The ever-improving graphics and impressive processors that these phones are built with contributes to its performance making mobile gaming that much enjoyable. This is true for the best selling mobile platform game - Angry Birds. To date, they have over one billion downloads, half of those downloads being in the last six months alone! They’ve grossed approximately one hundred and six million dollars in revenue and even branched out into producing collectibles, creating a household name for themselves. It’s plain to see that the