Monday, May 23, 2016

Target Market Strategy

The company must first decide who it will serve. It does this by dividing the market into segments of customers (market segmentation) and selecting which segments it will go after (marketing)” (Gary Armstrong, 9). Being that it's a snack and it can be sold pretty much anywhere, our target audience would be of all ages. We would want this to be a fun type of snack for anyone and everyone. As far as target suppliers, we would want to go for grocery and convenient stores, gas stations and bars. I believe that Trail Mix could be a competitor for the simple fact that both our snacks are mixes. Even though they are more on the nuts, oats and small candy side of the mixes, they are pretty much similar but you never know if in fact, they will tend to try and expand into something bigger just because we've come out with our brand of mixes. The company must also decide how it will serve targeted customers—how it will differentiate and position itself in the marketplace” (Gary Armstrong, 9). We plan on doing little things to put a smile on our customers’ faces. Maybe we will place a small prize at the bottom of the bag. We could include survey codes and/or game codes on the back where the customers could win a few items here and there like McDonald’s and their monopoly bit. Beside that notion being familiar, our snack would still be different because there’s not one close to the taste nor close to the adventure filled job in itself to satisfy customers of a different country. It's unique.

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