Basing on the consumers’ essence in the distribution of the producers or the suppliers, there is need to evaluate various aspects of the customers in the market. A company should uphold excellent delivery of its products or services to the consumers in the market. Nonetheless, effective marketing would only result after a comprehensive product or service identification. Therefore, this exercise intends to research on the current customer base, buyer behavior, demographics, psychographics, lifestyle, geographic area, benefit segmentation, and user segmentation for the product or service. In every case, there will be identification of the best mechanisms to be employed as well as the provision of preferences for the models (Parkin, 2009). The current customer base incorporates the number of consumers that the business delivers its products or services. The current customer base is essential for consideration in the business because it is the group of individuals utilizing the company’s products and the services or both at the moment. Nonetheless, many businesses tend to neglect this business opportunity and prefer seeking new customers’ interests to deal in their products (Rogers, 2010). Their main purpose is to create extra profits through the venture. Current customer base is significant in every business since it entail a number of advantages. In the first instance, the current customer base can indicate the ultimate path for the business. This can by achieved by bringing the customers on board to get their comments basing on the business’ products and services. It is easier to maintain the current customers and satisfying their desires since their demands might only be modification of the existing trends of a company. Focussing on the current customer base would also help in determining customers’ relationship with the company. The company would need to develop a number of mechanisms to attain a successful customer base. The company should get the customer to buy more of its product. The company can formulate the mechanisms that ensure that the customers buy more products once the customers realize that the product can effectively satisfy their needs. For instance, the company can offer discounts on bulk purchases. The company can get the customers to upgrade their products. The company can also get the customers to purchase more of its products. The repeat of sales can create more profits. The business should also consider its actions before dropping their marketing efforts. The business should consider the best means and reach the customers through it, probably after every month. The business should design marketing materials especially before beginning to market the current customer base. The start today aspect should target the encouragement of the customers that even though they have not began using the company’s products being marketed, there is still a chance and they can still use it and benefit (Parkin, 2009). The buyer behaviour should be determined by the business because different consumers possess different decision procedures in buying and utilizing the products. There should be an explicit understanding made by the business on why the customers make given purchases, why they make the observed purchases and the current trends occurring in the society. Throughout this experience, the business should determine and effectively address the critical aspects
Individual Target Market Paper Name Institution Individual Target Market Paper HULU is a company operating majorly as a website and all its provisions are found on the site. HULU provides services such as video streaming, movies’ trailers, Television shows, new media and behind the scene footages (TNW, 2012)…
Indeed, I would market high priced premium quality branded products (for gifts and personal use) as well as budget watches. Indeed, I have chosen Los Angeles because it is the the most populous city in California with a population of around 4.1 million (Beacon Economics, 2010); therefore, this huge market has immense business potential.
This market is one that is using healthcare more often and they are also in need of other services. Many are living longer and much healthier lives than in the past. Both men and women are active and they are living a better lifestyle that includes exercise, good nutrition and taking better care of their health needs.
Strategy plays significant roles in helping an organization achieve its goals, from the very beginning of the planning, designing and developing a products and until the last steps in customer-feedback analysis. In today’s highly dynamic and complex business environments, marketers look at most effective strategies that can help them gain competitive advantages and compete with their counterparts in the market.
To meet the needs of consumers, businesses plan and implement different marketing strategies, which enable them to identify target markets that help in meeting the firm’s goal. Market segmentation is one of these strategies that involves separating a wide target market into layers of consumers who have similar needs and implements a target market plan (Gitman and McDaniel, 2009).
Due to these ideas, the company will become a more liquid, self-sufficient company. Plus, the CEO of the Target Company should be aware on how employees should be treated since he should be required to treat employees as a partner in his business. From there, there, he should use Emotional Intelligence, which is a theory that managers and CEO's understand their employees emotions.
Consumer behavior and preferences have a high impact on how companies indulge in their marketing, promotional and sales efforts. Consumer’s opinions of good and bad and especially the way they define and appreciate beauty can mean the
In 2010, people heard how Jobs positioned the iPad in the market in front of the crowd of journalists and Apple employees: “The iPad ‘is so much more intimate than a laptop, and it’s so much more capable