- Published: October 2, 2022
- Updated: October 2, 2022
- University / College: Leeds Beckett University
- Level: Doctor of Philosophy
- Language: English
- Downloads: 33
CONSUMER BEHAVIOUR AUDIT FOR BLACKBERRY PORSCHE P9981 By The of the The of the School The City and State where it is located
The Date
Selecting Target Market for Blackberry Porsche P9981
A target market is simply a special group of customers that the business aims to bring on-board. For that reason, the business directs its marketing effort to reach this special group of people to win them over. Identification of the target market is the essential element of marketing strategy. Targeting and aiming the correct target market eventually helps the business succeed in selling its products and services.
Although, in the definition, we have given a general consideration of the target markets, it is still helpful to discuss the primary markets that the business can think of. According to Sumathi, the primary markets that the business can target are (1) consumer markets, (2) institutional markets, (3) industrial markets, and (4) reseller market. The company can target any of these markets to promote and sell its products. Nonetheless, there are no clear-cut for the categorization above. A business may target all the above categories or just one (Sumathi 2003).
In the case of Blackberry Porsche P9981, the focus will be on the consumer market. However, the other three remaining are also a potential target market for Blackberry Porsche P9981. In this case, the consumer markets include all the individuals and households that buy and consume the Blackberry Porsche P9981 for their own personal use only. In particular, this group of people is not interested in setting themselves as manufacturers or reselling the product. Their main goal is personal consumption to maximize their utility. In this case, the target market for Blackberry Porsche P’9981 includes mainly businesspersons and teenagers from the rich background.
Selecting a target market simply imply identifying more potential customers. A business can do this after it has segmented the buyers and developed appropriate measures of consumer insight about those buyers. Selecting the target market for Blackberry Porsche P’9981 is determined by two important factors. They include the attractiveness of the market segment and its fit within the firm’s resources, objectives, and capabilities. These three must be given appropriate consideration in order to help the business achieve its overall goals and objectives (Noel 2009).
The market segment of businesspersons and rich teenagers is very attractive making it a highly suitable target market for Blackberry Porsche P’9981. The size of this market segment is enormous, with many potential customers. The population of young people in our society is rapidly growing and their income level rises steadily. Secondly, there is a massive opportunity for growth in this market segment as many young teenagers and business people appreciate Blackberry Porsche. Lastly, there is limited competition in this market segment. Few industry players dominate the market for this product and most of them do not target young teenagers and businesspersons.
According to Kruger (2011), the size of this target market is so enormous and profitable that it is able to sustain the operating cost of the business. Only a tiny fraction of businesspersons and young teenagers would not want to buy Blackberry Porsche P’9981. The features of this product fit best people on the move, and these include young teenagers and businesspersons. Features actually determine the benefits that customers get from the product. Lastly, Blackberry Porsche P’9981 is meant to benefit this group of people, which makes them the best target market to consider.
References
Kruger, Elizabeth Rush. Top Market Strategy Applying the 80/20 Rule. New York, N. Y.] (222 East 46th Street, New York, NY 10017): Business Expert Press, 2011.
Noel, Hayden. Consumer Behavior. Lausanne, Switzerland: AVA Academia; 2009.
Sumathi, S., and P. Saravanavel. Marketing Research and Consumer Behavior. New Delhi: Vikas Pub., 2003.