Marketing Strategy : Target Market Analysis Essay

Marketing plan is always based on information regarding product, customers, market and competitors. The best way to analyze all this information is through a SWOT analysis. SWOT stand for strengths, weaknesses, opportunities and threats. This analysis takes into account both internal and external factors, internals being strengths and weakness, and external being opportunities and threats (Kotler & Keller, 2009).

1718, Baker Street, Nelson, BC, V1L5B5 (Address): It is located in center of the nelson city. There is many shopping, grocery store and restaurants near our Bar. There are lots of bars within the nelson area for example: Mike’s Pub, Bloom, Finley’s Irish Bar and grill, The Royal Bars that offer entertainment or live music are often referred to as music bars, live venues, or nightclubs. These types of bars have higher level of completion and range from inexpensive to elegant places of entertainment often accompanying restaurants for dining.

10. Conducting a Market Opportunity Analysis (MOA) is the first step in developing a marketing strategy.

Retail: The sale of goods to the public in relatively small quantities for use or consumption rather than for resale.

Target Corporation is among the top ten largest retail outlets in the U.S. offering clothing apparel, produce, home décor, and other household goods. The utilization of its infrastructure and information technology systems provides Target with one of its greatest strengths of forecasting consumer needs, which establishes repeat customers and consumer loyalty. “Making Target your preferred shopping destination in all channels by delivering outstanding value, continuous innovation and exceptional experiences” (Target Corporate, n.d.). The firm is supported by a strong IT department, a phenomenal leadership team that develops concrete operational planning, and consist of an organizational structure that is one other firms can model to achieve success. Target’s physical locations existence within a foreign market was short lived when Target ventured into Canada in March 2013. After closing its 124 stores in 2015, the firm is in a better position for a global expansion into Ethiopia, which has become an emerging and back into Canada where it first experienced failure.

bar there is a wide range of beers and real ales as well as having bar

Target Market The average Target shoppers are female. According to PYMMTS, Target shoppers are 60-63% female (PYMTS, 2016). As mentioned before, many Target shoppers are a tab bit younger, and are between the ages of 18 and 40. Many of Target shoppers are women, because Target is a store that is design to make women they can go there in escape (Markoswki, 2011).

Retail Marketing Sales Operation and Management1 C. Hazarika2 Retailing includes all the activities involved in selling goods and services directly to final consumers for personal, non-business use. A retailer or retail store is any business enterprise whose sales volume comes primarily from retailing. Any organization selling to final consumers – whether it is a manufacturer, wholesaler or retailer –is doing retailing. It does not matter how the goods or services are sold (by person, mail, telephone, vending machine, or internet) or where they are sold (in a store, on the street, or in the consumers home). Types of retailers Consumers today can shop for goods and services in a wide variety of retail organizations. These are store

It specifies the person who are the main source of income or via whom the business is growing and becoming successful. It means the customers who are likely to buy the product. One should consider numerous steps while considering the target market for the products. It can be divided into following categories:

Retail is when business sells products and provide service to the customer to make a profit. An example of a retail business is TESCO. There are many different types of retail sectors in UK which have different organisation and structures. In order for business to operate they will need to find the appropriate location, products they will sell to customer in order to gain profit for the business.

The aim of this paper is to critically evaluate the SWOT analysis as one of popular tools in marketing. SWOT analysis is an analysis method of identifying all external and internal factors for organization strategies (Rauch, 2007). It is considered in this paper that though SWOT analysis has limitations, it can be improved to be more effective as its development. This paper firstly focused on the definition of SWOT analysis. And then it discussed the context of the SWOT analysis including its evolution and its applications. Followed by, the paper introduced two relevant practice cases based on SWOT analysis. Next, the critical evaluation of SWOT analysis was presented with

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

The American Marketing Association defines retailing as “The activities involved in selling directly to the ultimate consumer for personal and non-business use. It embraces direct-to-customer sales activities of the producer, whether through his own stores or by house-to-house canvassing or by mail-order business. The retailer is an intermediary in the marketing channels and is a specialist who maintains contact with the consumer and the producer and is an important connecting link in the mechanism of marketing.”

Marketing is an essentially about marshalling the resources of the organization so that they can meet the changing needs of the customers on whom the organization depends. As a verb, marketing is all about how an organization addresses its markets. Marketing is “The management process which identifies, anticipates and supplies the customer requirements efficiently and profitability”.

Strategic marketing plan is very important to improve a business performance, achieve sustainable profitability and occupy a competitive position in an industry. Making a strategic decision which is the first and the critical phase in a developing strategic marketing plan is influenced by many factors that need further analysis in order to make the right decision. Moreover, These factors are divided into two categories: macro environmental factors and internal environmental factors .Porter’s five forces model, PESTLE, GE Matrix, BCG matrix and SWOT analysis is a list of aid tools that can be used in purpose of analysing the factors and obtain strategic marketing plan. The given paper aims to provide further details about both of PESTLE framework and Porter 's Five Forces model which are used to analyse the macro environmental factors, focusing on, the usefulness of each one, the considerations of application, the connection with other tools and the ability of each one to address a real marketing issue.