The product that I am marketing is a member of the home automation industry. Home automation is when electrical devices connect with the internet and each other to provide improved convenience, comfort, and security at home. Home automation devices can be a refrigerators, lights, and in this case an alarm clock. The home automation industry continues to grow because of the rapid adoption of smartphones globally. This explosion has driven down the prices on a host of small components that make most home automation products feasible, and the smartphone acts as a universal remote for an individual to control these connected devices. The global home automation market was worth $5.77b in 2013 and is expected to reach $12.81b by 2020; the compound annual …show more content…
This is an important group because they are technologically savvy and are more likely than any other customer group to turn to software and hardware solutions to solve the problems they face in their everyday life. The target market for my alarm clock application and ad-on is males and females that are currently attending college in the city of Boston. The difference between my target market and the addressable market is that the target market is young, so they are familiar with software, especially software that runs on smartphones. Appealing to a younger audience is a key component of my strategy because a majority of the target market are already familiar with software apps, like WakeUp! because they are used to installing and exploring dozens of applications each week (U.S. Smartphone Use in 2015, Smith). Though my product may not appeal to every college student in Boston, it will appeal to those who have difficulty waking up in the morning. In 2010 there were 152,000 students attending college in the Boston area, according to the Boston Redevelopment Authority, half of those undergraduates will be a part of the target market, which comes to 76,000 (Meade
Who is your primary target audience? (i.e., teens? college students? Older adults?)
Situation Nanda has designed an innovative alarm clock named Clocky. Clocky has a unique function that it can jump off a nightstand and roll around the room to wake people up, arousing attention and interests of the public. However, Clocky is still a prototype and it was not yet commercially available. Precise marketing positioning, promotion means, distribution channels and pricing are crucial in order to make profit from the sale of Clocky. This report includes the evaluation of the current marketing strategy adopted for Clocky as well as suggestions of marketing segmentation in Hong Kong.
Many advertisements target a specific group of consumers whether it be classified through gender, age group, or those that share similar interests. Companies try to create advertisements that leave a lasting impression of a certain product so that it can resonate in a consumer’s mind. Often, companies shape an advertisement based on the type of customers they want to attract. For example, McDonald 's, a fast food chain is likely to target children than adults. By attracting children, there is a likely chance that the children will will insist their parents or grandparents to bring them to the restaurant, which ultimately for the restaurant is about making thrice the profit.
Target is one the largest merchandise and food items retailer in the United States. The company is famous for its broad range of affordable products, diversified operational and supplier network network. Target has over 1800 stores located in the US and 96% of Babies R Us are located within five miles of a Target Store which makes acquire existing customer base [1]. Target provides baby registry program including in store pickup, free 2 day shipping for orders at least $35 and a 15% completion discount. They also have an one year return policy to return new, unopened items with a gift receipt but lacks the flexibility to return without gift receipt that Buybuy baby offers and the fact that Amazon will accept opened and used product but Target
Market Segmentation: To be of value market segments must be measurable, substantial, accessible, differentiable, and actionable (Kotler & Keller, 2012). Segmentation of demographics for Costco is vast as the current product offerings include all genders, ethnicities, incomes. age groups, and social classes. When considering demographics, it is important to consider the average or typical characteristics of the target market. As mentioned earlier the target market or focus for this company is supplying the small- to medium-sized business and targets the middle- to high-end consumer with its private label brand Kirkland Signature.
Wal-Mart’s main competitors are or have been Kmart and Target. Target focuses on the middle class rather than the blue-collar clientele. Target has mainly focused on metropolitan markets. They sell merchandise at low profit margins. Target has a main strategy of offering an upscale ambiance, for example, many Targets include a Starbucks Café.
In a marketing communications strategy the first objective is to identify the target audience. In the case of Kellogg’s they have two main audiences, the purchaser who is the parents and the influencer who is the children. Kellogg’s tend to have specific target audiences for each of their products. For example, Kellogg’s Corn Flakes targets families, Kellogg’s Special K targets women and/or health conscious women and Kellogg’s Coco Pops targets children.
A business that employs a blog as part of their website needs to start by engaging readers. When enticing potential customers to a website through attractive blogs, it immediately starts to improve search engine optimization (SEO) results. Here’s how a business can capitalize on a blog to drive up website traffic using sound SEO strategy. Audience & Keywords Hitting a target audience is always the number one aim of SEO. This can be accomplished through calculated efforts to use keywords and keyword phrases that point directly to the company.
Their target customers are young people in all kinds of education levels, religions, race and nationality. The occupation of their target customers could be very wide but mainly are sports player and athletics. It is because athletics are more rapidly to use sports products than other people. Their target customers are from different generations: Generation X, Generation Y. Psychographic Their target customers are people who care more about the utility and quality of the product than the price.
Their target market is mainly divided into three categories. The first group is of the people who have a high brand loyalty to Apple and are the primary consumers of its product. These people would not only own the Iphone but also other products offered by Apple like the IPod, iTouch and iPad. This group is well aware of the features and benefits of the product and is therefore prepared to pay a greater price for these features. The primary target group of the Apple iPhone belongs to the upper middle or higher social class who can afford to pay for the premium products offered by
targets the younger generations with more advanced technologies for examples teenagers .The iPhone, iPod and mac computers are spread worldwide. The company 's target includes almost all sectors of the society. Its targeted consumer is for younger and the older generation, Boys and girls. They have designed the gadgets colours according to it.
Starbucks’ target audience is not gender-specific as it included both males and females. The age bracket for adults are between the ages of 25-40 years, and children aged 2 years and above. The adults in the target audience are married, and with children. From a social class viewpoint, affluent families are prioritized, focusing on households with middle to high income. Additionally, these are adults that have graduated tertiary education and are now urban professionals.
1. In order to understand the success of Inditex’s best brand, Zara one has to understand their strategic choices, and at its core this revolves on having a good understanding of who Zara targets, and what makes this brand attractive. Zara’s most important target market can be understood by the use of demographics, they target young (18-40 year old) women, who are price-conscious with a mid-range income, and very sensitive to fashion trends.
Some of the smart home technologies going to happen in future: 1. Automated robot: Automated robots devices like Irobots used a lot in the smart home for cleaning the floor, serving food and drinks to guests, picking up the dirt and others. A sensor system placed on the human’s arm, therefore it can be controlled by embedding touchscreen and also answers the voice commands given by a human. 2. Smart Appliances: Nowadays, every product in the market is becoming smarter.
However, Dr. Post faces many challenges including the question of how to distribute the products and the kind of partners that should be sought. Post faces some challenges such as the high production cost and the need to reduce the price from $330,000. The product is likely to introduce a major disruption in the status quo and may be received differently by established players in the industry. Post needs to determine the best way to communicate to the different players in the industry to enhance acceptance of the new product. This essay presents recommendations on the best