Target market
In our marketing efforts the group of customers that the company has identified is women particularly overweight women. In the marketing strategy, a well defined target market is what the objective of the company management is. The success of Muffin Tops is a well defined marketing mix that is composed of four variables that include place (distribution), product, price, and promotion.
The Company aims to use this marketing mix so as to make muffin tops the number one priority among our esteemed customers. To construct a solid foundation for our company, the company targets wishes to target a niche market. Therefore, in defining our target market we observe what our competitors are targeting together with their current customers hence we avoid going after the same market.
Demographics
There are various demographics for the company’s target market. Therefore, Muffin Tops Limited Company does not only figure women who have need for our tops, but who also are more likely to buy them. The company has put into consideration a number of factors in this socioeconomic market segmentation, we consider age, location, gender, education level, income level, occupation, family or marital status, and ethnic background.
Consequently, the company conducts detailed investigations on the mentioned factors to ensure that our target market is well informed. It is therefore the task of the sales department to conduct research on these factors to ensure that we satisfy the needs of our esteemed customers.
Geographic
The geographical segmentation in our target market will seek to find out the marketing strategies, which will work in our specific geographic markets based on lifestyle, location, language, and climate. We therefore understand that our geographic markets will differ in size depending on the location.
The Company’s geographic markets will be composed of 3 components which include climate, language, and population density. Therefore, the company targets geographic areas that are densely populated and have women of all the ages. This is because in these areas there is high demand of our unique muffin tops.
Market Needs
Muffin Tops Limited Company came up with the idea of providing Ruffle Front Tube Tops after analyzing the market needs. These market needs informed us about the features of our tops hence we came up with these tops to appeal our target customers.
The market needs that the company concentrates on include convenience, competitive price or value, and the existing competition. Thus, Ruffle Front Tube Tops will benefit our customers by providing comfort to them.
Market Trends
We believe that market trends are what allow us to capture our profits. Using the technical analysis, our marketing department identified both the internet and traditional market trends. In traditional market trends, we will utilize strategies such as direct sales, mail, TV, and the printed promotional materials such as brochures and catalogs.
Apart from the traditional trends, Muffin Tops Limited Company will also utilize online or internet marketing. In this case, the Company will utilize strategies such as search engine optimization, social media like twitter and Facebook, email marketing, and website creation.
Market Growth
For the period that we have been operating, Ruffle Front Tube Tops demand has continued to rise. Thus, this clearly shows that there has been a strong market growth in our company. The main reason for this increased demand is because these tops are essential products for our worthy customers. In addition, they are of higher quality and more so we offer them at fair prices.
References
Marconi, J. (2005). Creating the marketing experience: New strategies for building relationships with your target market. Mason, Ohio: Thomson.
