Wednesday, March 23, 2011
Target Market Strategy
"A marketing strategy consists of specific strategies for target markets, positioning, the marketing mix, and marketing expenditure levels. It outlines how the company intends to create value for target customers in order to capture value in return." (Armstrong 57) The target market for this product is men. We hold a high postion in this market, because the majority of similar products are marketing toward women. Women are mainly the customers of a household, buying food, beverages, laundry soap, cleaning supplies, linens, clothes for the family, and all beauty products used in her home, whether by her self, her husband, or any present children. Our goal is to convince men of the value of buying and using lotion for themselves. There are some options out there exclusively for men, but none that particularly stand out as manly. "Through concentrated marketing, the firm achieves a strong market position because of its greater knowledge of consumer needs in the niches it serves and the special reputation it acquires. It can market more effectively by fine-tuning its products, prices, and programs to the needs of carefully defined segments. It can also market more efficiently, targeting its products or services, channels, and communications programs toward only consumers that it can serve best and most profitably." (Armstron By concentrating on men as our target market, we can better adapt the advertising campaign to them.
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