Executive Summary
The MARKETING GAME has taught me and given myself an abstract experience on how a marketing manager would perform in a company selling a voice recognition device and able to use an virtual program that calculates and generates financial reports. Besides that, I got to learn how to analyze and selecting target markets and implementing the marketing mix, which were 4 segments, wholesale of $120, using indirect competitive advertising and indirect distribution which is full service dealers only. To : Director from Firm G2
From : Gabriel Philip George, Marketing Manager
Subject : Interim Report on The Marketing Game, TMG
Introduction
This interm report begins with the definition of TMG. TMG which means The
…show more content…
They are a segment because they see VRD as an important trend for the future and want their kids interested in and experienced with it early.
Based on customer service’s survey on what the segment are willing to spend, the modern students are looking at an economical VRD since they are a budget-constrained segment. Home User’s expenditure for a VRD would come out from after what budget is left from their household expenditure so they would not be interested in expensive VRDs. The harrier assistants will likely control the choice of a particular VRD’s purchase based on density of their work but eventually final purchasing decisions is made by the companies and will purchase a number of VRDs at the same time. The professional creators are mainly concerned with speed and special commands thus they do not mind paying the price as long their requirement is fulfilled. The high-tech managers will pick any brand of VRD they want but their companies will pay for it whereas the concerned parents will be willing to pay as long their kids get a valuable educational experience.
The marketing mix for the Voice Recognition Device consists of the Customer (People) and the 4P’s, which are Product, Price, Place and Promotion.
In terms of Customer, I as the marketing manager have selected the target market as following firstly The Harried Assistants, second, The High-Tech Managers, third, The Modern Users, and lastly, The
Marketing is a very unique process that enables limitless methods or variations for an entity to appeal to a particular target market as well as to deter from a particular market. Marketing is used in more than just business; The kinds of clothes an individual wears and the attitude a person portrays can be used to market him or herself to the public for many reasons: Maybe to attract a woman a man is attracted to, possibly to impress the president of a company a person is interviewing for, and even to just create a base of his or her character in which other people will judge him or her by. Marketing is everywhere from the business side of the spectrum to relationships people have
When Quiksilver announced the start of its women line Roxy in 1990, they defined the brand as a “fun, bold, athletic, daring and classy” brand for young women. Market segmentation is a crucial marketing strategy and Roxy utilizes the four bases that are commonly used for segmenting consumer markets including geographic, demographic, psychographic, and benefits sought segmentation. The geographic segmentation is ideally unlimited for the Roxy target market because the brand offers clothes for both warm and cold weather, however, it focuses mainly on the “beach lifestyle” and is generally more popular in beach towns. The demographic segmentation of the Roxy brand, is aimed to attract young women between the
Marketing has become more and more important, especially as the purposes of marketing expanded into performing marketing researches. Through marketing researches, it is asserted that marketing starts with a real customer need. Classic marketing, has, nonetheless, focused on making the need that will draw customers, and this stresses the advertising power of marketing (Woodall 2007, p.1284). This is also called the sales concept of marketing (Woodall 2007, p.1285). An example is how advertising lures people into buying a brand, because of the
Company U’s primary focus is creating products that create value and fill a need in growing markets – it currently has three products. SUSI is the lower quality offering which focuses on weight and volume, marketed towards Singles and Others who are the most price-sensitive and are projected to have the highest growth rates over the next five years. SULI is the high quality electronic offering, distributed primarily to Professionals and High Earners who are driven by performance and convenience. VUGO is a product that was created for the Followers segment of the Vodite market which is projected to have the largest growth over the next five years at over 3300%. Followers require a high performing product, but at an
First, we will analyze the targeted customer and the proposition designed by each company to attract them. In this part, there is a description of each market target and how each company has taken advantage of each unique position in the industry.
One of the most important in coming up in the marketing plan is identifying your potential customers or your target market. With this, the researchers can implement and come up with the strategies suited with the identified target market. Target market or customers are those who are likely to buy your product.
1. Target Market Selection – Who is to be serviced needs to be determined. Target heavy users, all users, or even what age and gender to focus on.
The Right Target Market One of the most important marketing functions for a firm is finding
Market targeting is the process of evaluating each market segment’s attractiveness and selecting one or more segment to enter. A company should target segments in which it can profitably generate the greatest customer value and sustain it over time.
The client should concise the account decision-making in particular to who the product’s target markets are. The target market that is specifically aimed to the local industrial estate workers where the client aims to provide
The best way to improve sales and profits is to reach the selected target segments. That being said the marketing officers must make sure their advertisement reaches the customers who are most likely to purchase their products. Companies often develop customer profiles from feedback surveys or marketing research to gather these data records. Target customer variables or demographic factors can include age, gender, income level and education level.
Next are the high-tech managers. Such consumer groups like DVC products mainly because they tend to these products are better able to help them to complete the work of the office, and to more than some of the more specialized creativity. The analysis of this group because of their high expectations for new products, and they spend a lot of reasons with the money when they think to be able to prove that this innovative product to meet the need.
In general terms, marketing is all related to the places of buying and selling of goods and services to satisfy customers’ needs. Nowadays marketing is the most important issues for success of every business marketing is the activity, set of institution, and process for creating, communicating, delivering, and
target markets with respects to that product. For this reason, in this report I picked