Thursday, September 22, 2016

Target Market Strategy

1.    Geographics:
§  Lives within the U.S ZIP codes 
2.    Demographics:
§  Married.
§  Between the ages of 21-35.
§  At least one child.
§  Condominium or home owner.
§  Education experiences beyond high school.
§  Earning a combined annual family income of $50,000 or greater.
3.    Psychographics:
§  Values time and considers it their single most limited resource.
§  Excited about accepting and using innovative ideas and products.
§  Consistent Web users. Prefer the Internet over magazines and newspapers for information they trust.
§  Increasing resources invested into safety and security issues.
§  Beginning to plan for their future.
4.    Behaviors:
§  They are leaders in product selection and respond to the opinions of the “industry experts” when making purchase decisions.
§  This group will first look to the Internet to acquire this information.
§  They defend these decisions under most any circumstance and will adamantly “sell” those that ask why they use the product or service and why they made the choice they did.

§  This group can be a powerful, unpaid sales force resulting from the referral network they build and use.

Promotional strategy a plan for the optimal use of the elements of promotion: advertising, public relations, personal selling, sales promotion, and social media  Pg.276 Chapter16-1

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