Market Segmentation, Market Positioning, Target Market, And Product Augmentation Essay

1496 WordsOct 13, 20166 Pages
Starting a company, maintaining the company, and growing the company can be done successfully with adequate research and analysis. Difficulties arise when there has not been enough examination of the market segmentation, market positioning, target market, and product augmentation. Each of these analyses are ways to determine how, where, and when to start a company. Opening a hotel is never an easy task, but choosing the right city and creating a marketing plan around the target market is a sure way to have a successful hotel. Denton, Texas is a growing town just outside of Dallas. The University of North Texas and Texas Woman’s University lie at the center with over 50,000 students flooding the town each year. The population was reaching almost 130,000 in 2014, making almost two thirds of the population college-aged students. The median age in Denton is twenty-eight, which is six years younger than the median age in Texas (United States Census Bureau). A fun way to get visitors engaged in the Denton lifestyle would be to create an app for the hotel that has information collected by the locals about the town and the interesting things to do during their visit. There would also be a part of the app that allows the customer to create their own portfolio which would be used by the hotel to help them create life-long customers. The best restaurants, shopping, and entertainment could all be within the app and visitors could post their own photos from the trip to earn points

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