Understanding The Target Market And Its Needs Today And Market Forces Change The Market

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).

Continue Mission ensures that military Veterans and their families are the main focus of their mission and that they are given an opportunity to reduce their stress, improve their relationships, and prevent suicide. We utilize a three-pronged approach focused on improving and saving the lives of veterans through one-on-one services, group activities, and a large referral system of community resources that support and educate Veterans. Continue Mission is a 501C-3 non-profit organization founded by Joshua Hansen, U.S. Army, Retired and Laura Cantin.

All across America, in towns metropolitan and suburban, you will probably be able to hunt down a Target. Identifiable by its glowing red bullseye logo, Targets normally sprawl across city streets, and stand anywhere from 1-5 stories tall. Out of the many superstores consumers these days have to choose from, I chose to review Target.

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.

“On average, middle-aged consumers devote 39 percent of their retail expenditure to department store products and services, while for younger consumers the average is only 25 percent. Since the number of middle-aged people will increase dramatically within the next decade, department stores can expect retail sales to increase significantly during that period. Furthermore, to take advantage of the trend, these stores should begin to replace some of those products intended to attract the younger consumer with products intended to attract the middle-aged consumer.”

Successful marketing requires identifying, analysing, and understanding individuals of a target market, and then catering to them through specialized advertising and promotion methods. Fayemelle’s target audience are people aspiring to live a healthier lifestyle, without depriving themselves of delicious indulgences such as cupcakes. These people are very health cautious, however, they are not afraid to have cheat days, or find ways to make the foods they love more healthy and enjoyable. While ‘health-cautious’ people may be a broad choice for a target audience, it is also a market that can easily be segmented for more effective marketing efforts. For example, while as a company, Fayemelle’s would prefer to profit from all demographics groups, they have have chosen one group that it feels will benefit most from the services offered through Fayemelle’s products. The ideal age for an individual Fayemelle’s markets towards is around 25-50 years old, as this age group is typically more concerned with the condition of their health as they age. In addition, one is able to stretch the criteria of a health-cautious even more by establishing the types of foods they like to eat. Common choices are fat-free, organic, gluten-free, or low carbs. Fayemelle’s is able to incorporate the needs and wants of this demographic through its Ditch the Sweets Cupcakes. In addition to the cupcakes’ low sugar, Fayemelle’s also offers a flour-free variety to appeal to those wishing to eat

Identifying the target market is the first step in successfully marketing a product or business idea. The Pedego Stretch e-cargo bike is a product that features a variety of cargo storage areas, while offering the ease and comfort of a bike designed with the individual in mind [see appendix A]. I would place this bike in the consumer market for a few reasons. Mainly, because the majority of consumers would be purchasing this bike for personal use. While this bike could potentially be used as part of a business, it would not be incorporated into a new product and sold as such. The creators of the Pedego e-bikes are very consumer focused. They design each bike with the individual who will be riding it in mind, making this product a great fit for the consumer market.

Sukhjit: The target market towards which this services and product is targeting is seniors (baby boomers), immigrants, others who want to learn how to use technology, people who want to learn programming and anyone looking to buying a new and affordable computer or looking to repair their device.

Retailers have a large task when keeping their store relevant to their target market. With the ever-changing fashion industry, retailers need to keep up the changes in preference their consumers. However, depending on the store and their merchandise assortment, the chance a consumer will make a purchase differs. Additionally, taking into consideration the recent trend and growth of outlet businesses, it is up to traditional retailers to create a fluid transition of being able to maintain their regular priced business and their outlet business, without one overpowering the other.

How has the company chosen to improve its knowledge of customers and therefore its decision making? Analyze the management, organization, and technology dimensions of the solution.

***Please note that the Problem and Research Objectives for this project were changed since the last report was handed in. For a definition of this new problem and its accompanying research objectives, please see Appendix A.

We will be targeting a consumer market. Pop Tarts are a product that should be able to show up in stores across South Korea. The average disposable income per capita is 18,035 USD a year. While this is not necessarily high by any means, South Korea does have the 12th largest economy in the world (“Korea Life Index,” 2015). Within the consumer market, there are several target markets that we could go for in South Korea. What would seem to be the most obvious would be children, ages 5-12. This is the main target market for Pop Tarts in the United States. One might think that this would be the route one would want to go. In the United States, Pop Tarts are often advertised using silly and cute cartoon commercials and use endorsements, such as Disney Channel or Nickelodeon stars, that would appeal to younger children. While this style could possibly work in South Korea, I feel that it would not be the best way to go about making Pop Tarts popular.

As identified that the ultimate purpose of running an organisation is not only manufacture their wares but also earn profit. Because of different sorts of clients, there is no product exist that may encompass all client demands. For every organisation, the market assortment procedure include to segment, target and position. Market segmentation is the process of dividing the total market into groups, or segments, consisting of people or organizations with relatively similar product needs. The purpose is to enable a marketer to design a marketing mix that more precisely matches the needs of customers in the selected market segment (William M Pride 2007). Toyota’s segmentation and target market is directed by its beliefs of “Right Car in the Right place”

Consumer behavior is a significant aspect while developing strategies in marketing within different market segments. Though there are many studies and researches done on consumer behavior, it is important to note that consumer behavior varies from one product to another and one market to the other. On the other hand, marketing is concerned with the preparation, and producing a good or service, pricing as well as marketing and distributing that product or service to the market or consumers. In order to reach the consumer, the people bestowed with the responsibility of marketing such products or services should understand the consumer needs as well as the specific market for which the product or service will sell. Additionally, it is prudent for marketers to understand that consumers only buy products that give or offer value to them.

Ufone changed the picture of cell telephones from an extravagance just moderate by the first class, to a need reasonable by the basic man. Since its initiation, Ufone has situated its image for "MASSES" on the premise of administrations it is giving and its least call rates. It makes them trust that it fulfills the needs of everybody (via all classes, age and gender). It lets them know that Ufone arrives when anyone needs it. The brand name UFONE itself is a situating articulation.