Abstract
Products are manufactured with the purpose of selling them to make a profit. To sell a given product, one has to market it. For one to sell the product, they need to have a good understanding of their target market. The person has to understand the behavior of the consumers, what they like and how to segment this market to have greater control over operations. In my case, the product of choice is mobile phones. Understanding the market is a core concept that every business relies on for the success of its product in a given market. This concept is sometimes referred to as market positioning, and it gives a clear evidence of the market conditions, against the expected product supply of the market. In addition, this paper describes various aspect of marketing like determination off the customer base to the identified product: mobile phones. Other elements of concern in this essay are determination of customer behavior, as well as the geographic area of operation to this main product.
Customer Base
The main product of choice is mobile phones, and the target market base would comprise of individuals aged between fifteen to thirty-five years. This is an ideal customer base that will fully complement the operation of the mobile phones, since trendy and classic phones come with enthusiasm, and excitement with the youths. Age seems to be a functional parameter and a measureable one too from which a formidable customer base could be established (Burrow, & Bosiljevac, 2009). The main reason behind selecting this customer base is due to the fact that the youthful population will offer the best platform for sales of phones within the respective markets, and also this idea is manifested to the fact that by the time a person reaches fifteen, he is conversant with the use of a mobile phone. It is also at fifteen that generally parents allow children to own a phone. Youth also make up more than sixty percent of the population in most countries. Such a percentage indicates a pretty solid customer base for one to base their operations.
Consumer Behavior, Demographics, Lifestyle and Geographical Area
In general, the consumer behavior of the target market is rather similar to every individual in this group. Youths like to fit in with their peers, if one sees their friend with a gadget, they feel the urge to have one and even go as far as getting one themselves. They also like to jump into fads and trends to ensure that they do not get left behind. A liking for flashy items is another behavioral aspect of the youth, and although they like to fit in, they also like to have something that sets them apart from the crowd (Sengupta, 2005). Impulsiveness is also part of their nature. For most of them, if they see something, and it pleases them, they will not hesitate to fork out cash to own that thing.
Lifestyles of the youth are social, and as such are attracted by trendy products; mobile phone is one such product that invokes the interest and attention of youths, and in most cases they have that positive traction to associate with trendy mobile phones in the market. Preference to belong to a group is seen in almost every young person. Cliques are formed, and failure to be in one makes a youth an outsider. From their lifestyles, it is also evident that they like to interact with each other, not only face to face but also when they are apart from each other.
Demographics of this group involve their age, which as stated lies between fifteen to thirty-five years. The target includes both male and female in equal measure, not just a particular sex. A significant proportion of this group is unmarried which is an important factor to keep in mind (Hill, & Jones, 2009). Some are employed, but most of them do not have an income, they rather depend on an allowance which has to be considered in the pricing.
Regarding geographical location, the research shall mainly target the urban population as most youths prefer not to live in the rural areas. Even those from rural areas prefer to move to towns to broaden their horizons. Around sixty percent of the youth population is found in the urban areas, some at home, others visiting a friend and many more looking for or engaged in employment. Not to say that the rural section will be totally ignored, they'll just not be a huge priority in the marketing process.
Psychographics
Psychographics of my marketing process will be focused on the features above of the target market. Since the youth are social beings, it will be easier to attract their attention as a collective. Pieces of information about the new phone in the market will end up moving from person to person. Social network platforms will be readily available via this phone to help the youths connect and even spread the word about the amazing new phone (Burrow, & Bosiljevac, 2009).
Pricing of the phone will be pocket friendly as majority of this age group does not have a steady income. Although youths exhibit pretty similar characteristics, they also do differ significantly. This will mean a further intervention and exploration into the psychographics. Some are avid gamers, so gaming capability is a necessary feature for this phone. Others like to read so a Kindle-like feature will be added to it. Some youths are also deep into music so the sound capability and media players will be of the best quality. Smooth internet connectivity will be an added feature with an automatic incognito mode for the browsers as some of them are sensitive about their privacy (Sengupta, 2005).
Benefit Segmentation
The general group shall be divided into two, with one group having between ages fifteen to twenty five. The phone for this group will be more recreational based with less utility functionality. A front and back camera with all the major social networking applications pre-installed is what this group will be getting. Another group between ages twenty six to thirty five will receive a utility based phone. It will come with a scientific calculator, QuickBooks, and virtual memo to keep its user up to date with their obligations. None of the groups, however, will be restricted from acquiring either model.
User Segmentation
For this section, anybody who possesses the phone will easily maneuver through tabs. Customization of the phone is a feature that will be in one model. The model with this capability will receive ads once the user goes online but the other model will not.
Estimation of the Market Size and Penetration Percentage
Youth population comes to about 60% in every country. Close to 60% of this number is in the urban locality which brings the number to 36%. An additional 7% of the rural population and unaccounted population are projected to join the already accounted for population adds up to 41%. Further marketing is expected to raise these figures to 47% of the entire population within the first year of operations (Burrow, & Bosiljevac, 2009). These numbers are projections for the American and European markets, but once production goes global, the sales numbers are expected to rise with the relative percentages falling to 42% due to the purchasing power of the Asian and African continents.
An Initial Marking Positioning Statement Based on my Current Research
We are a technology company focusing operations on computers, electronics appliances, and mobile phones. Our products are tailor-made to suit all possible expectations of our esteemed customers. The current market was in dire need of quality electronic materials, so we dutifully stepped in to fill this void. Our products are top of the range and fair far better against old brands like Samsung and LG (Burrow, & Bosiljevac, 2009). What makes us stand you ask? Well, the simple answer is that we produce excellent quality items that are guaranteed to give you lifelong service at a pocket friendly price. Buy us, buy quality.
Conclusion
Indeed, the prospect of creating a formidable market structure for the mobile depends on the marketing prospect for the product. This implies that a product like mobile phone must exhibit positive conditions in order to capture the taste of the market. Since the market segment comprises if youths, it is critical that their demands and expectation are fulfilled due to the dynamism experienced in this age group (Burrow, & Bosiljevac, 2009). Market demographics also play a fundamental role in determining the performance of the product.
References
Burrow, J., & Bosiljevac, J. (2009). Marketing. Mason, OH: South-Western Cengage Learning.
Hill, C. W. L., & Jones, G. R. (2009). Essentials of strategic management. Mason, OH: South-Western/Cengage Learning.
Sengupta, S. (2005). Brand positioning: Strategies for competitive advantage. New Delhi [u.a.: McGraw-Hill.
