Identifying A Target Market And Prepare A Customer Profile

A market analysis, or market research, helps to understand the community an organization is working for, as well as come up with ideas for the future (Berkowitz, 2011). This is true for any organization, and even more important for smaller organizations, as that may not have a large amount of money to use for new ventures, services, and products. Not to mention the organization needs to determine the best plan of action for their consumers, as well as those that are not yet utilizing the services and products being offered.

The Gap Inc. is a global specialty retailer that operates stores selling casual apparel and accessories for men, women, and children (Yahoo Market Guide, 2001). Under the Gap, are the Old Navy and Banana Republic brands (Yahoo Market Guide, 2001).

In this article How Does Target Know so Much about Its Customers? Utilizing Customer Analytics to Make Marketing Decisions, the authors describe the kinds of data needed to recognize changes in a consumer’s habits, privacy concerns that occur when data mining, and marketing decisions made from the information. Whenever shoppers make a purchase or browse their Web site, Target gathers customer information, analyzes it, and might sell the data to other businesses. In fact, all three authors explained, “Target Corporation is a leader in analyzing vast amounts of data to identify buying patterns, improve customer satisfaction, predict future trends, select promotional strategies, and increase revenue.”(Corrigan, Craciun, Powell 159). Along with other stores, Target has created a

First, we will analyze the targeted customer and the proposition designed by each company to attract them. In this part, there is a description of each market target and how each company has taken advantage of each unique position in the industry.

rnott‟s brand uses colourful, musical and fast ads to promote the Tiny Teddy biscuits. The 2009 IGA/ Arnott‟s promotion consisted of buying 2 Arnott‟s Tiny Teddy to enter a price withdrawal of $100, 000 (Lottos 2011). This promotion was

One of the most important in coming up in the marketing plan is identifying your potential customers or your target market. With this, the researchers can implement and come up with the strategies suited with the identified target market. Target market or customers are those who are likely to buy your product.

TrakDot’s target audience are business professionals and/or those who travel or vacation frequently. In any case, these individuals have common traits that can be used to more easily identify the target market. The individuals that we intend to target are between the ages of 30 to 60 years of age since that represents the working class, these individuals that we are looking to target will also be middle to high income earners. According to creditdonkey.com, there are 488 million business trips annually and the average business person flies about 12 times per year (one way). There is no reason to segment between gender, because women and men travel at about the same rate.

Having a successful marketing strategy is one of a company’s biggest challenges they face when marketing their products. A target market first needs to be identified, so that the necessary research can be completed on that market in order to identify the key factors that are part of that market which includes demographic information and all

The first pillar, target market segment is essentially the discovery stage. The point of this stage is to determine whom the company is serving and to whose needs their product needs to be tailored. Some contributing factors in determining the target include demographics, psychographics, and other important characteristics. In the case of United Commercial Bank, their main target market is clear, the

a. What process elements do you believe are critical to ensure your organization understands the target market and its needs today and remains knowledgeable and informed about trends as your business grows and technology and market forces change the market? Are there specific tools (e.g. CRM, big data tools) that should be part of your firm’s toolkit? If so, explain what value they bring, how they fit into your process, and way they are worth the investment of time, money, and mind share during the critical startup phase.

The Right Target Market One of the most important marketing functions for a firm is finding

To reach the target audience, the company will use advertising, content marketing to create product belonging and position it in the mind of the consumer. The target market is the hardworking business executive and hospitals who

The best way to improve sales and profits is to reach the selected target segments. That being said the marketing officers must make sure their advertisement reaches the customers who are most likely to purchase their products. Companies often develop customer profiles from feedback surveys or marketing research to gather these data records. Target customer variables or demographic factors can include age, gender, income level and education level.

In terms of Customer, I as the marketing manager have selected the target market as following firstly The Harried Assistants, second, The High-Tech Managers,

Market analyze is very important to get customers feedback. By gathering market data , market growth the organization will get to know about the competitors.