Marketing Research Paper

A business must be highly competitive in the business markets today. For a business to grow successfully, remain sustainable, and competitive a business needs a good understanding of a marketing plan, and the knowhow to put the concepts to work for the business achieving a successful marketing strategy. Remaining successful when an economic growth has leveled out shows a sustainable business. Competitors that follow the same marketing concepts will need to develop a good marketing plan, and implement the concepts into a marketing strategy to remain a competitive business. A good marketing strategy contains a marketing plan describing the products offered, and taking into account

Demographics make sense to me. My example is about the demographics of Forever 21 shop clothing. Their main customer focus on the big teen retailers from 18 to 24 years old, female and male fashion, young, active, and fashionable customer. The education level is College and completed. Their price strategy is reasonable and low budget

It needs to be a specific group of customers. Sometimes using stereotype images can help to describe a group, such as the “soccer mom.”

Complete a market segmentation of no more than 1,400 words for your buyers. Be sure to include the following:

understanding consumers’ needs, how groups of consumers differ from one another, and how consumers decide among products. The market need would be for specialty girls’ childrens clothing The following would be segmentation of the clothing market to help better understand the consumer (potential buyers): Geographic Segmentation Global Region or Country: India, Ect...

How should this market be segmented? Identify the key segmentation variables that are relevant for this market.

Who they are: If you sell directly to individuals, find out your customers ' gender, age and occupation. If you sell to other businesses, find out what industry they are in, their size and the kind of business they are. For example, are they a small private company or a big multinational? Knowing this can help you identify similar businesses that you could target.

Markets consist of buyers that differ in their needs, wants, resources, locations, buying attitudes and buying practices. To reach customer insight, it is important to understand the needs of different segments and to communicate pertinently to them (Brown L, Brown C, Gallagher SM, 2008).

By identifying similarities and differences between customers within each segment was accounted for the analysis.

Define the bases of segmentation used to segment consumer and/or organizational markets (the rows in your grid)

In order to market the product into the market successfully, marketers need to have some marketing strategy to enter the desired market and make profit. Market segmentation is the process of dividing a market into subsets of consumers with common needs or characteristics (Schiffman et al., 2011). Understanding the market size and segmentation is valuable, but the keys to effective targeting is to know just how valuable specific consumer groups are, and being able to quantify the impact of consumer trends ( Berry, 1999).

If you have an intangible product such as insurance or marketing programs, you may be able to put them in groups such as age, income, or price range. Ask your client questions to find a way to guide them in the right direction, which may further enable them to choose.

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.

Carefully evaluate the pros and cons of the segment markets and determine the market where the product has definite advantages over other

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,