Saturday, October 5, 2019
Target Market Research Paper Example | Topics and Well Written Essays - 750 words
Target Market - Research Paper Example It is evidently clear from the discussion that market segmentation is an aspect that the business as identified as a strategy of marketing. The business will divide its market using the following considerations. First, it would consider consumer behavior, second it would consider geographical factors, and lastly, it would consider psychographic factors. Variables for segmentation within the target market include age, income, and occupation of the people, gender, lifestyle, values or interests. The consumer responds to a product after considering various factors, which include benefits, derived from the product. The target population for the product would active age (15 to 35 years). The data about the population of UAE indicate that the ratio of male to female stands at 2.75. The above information reflects the statistics of the nation recorded in 2009. The assumption is that the population has not yielded greater changes. The data indicated that the population grows at 3.055 %. It is important to note that women product consumption differs from the male. The idea of the age bracket is to design product strategies that will respond to the target population. The target population proves viable to the company product because of their consumption behavior. Economic status our target market indicates that rugged beverage cooler would fetch more in the market because of the response that the product anticipates to get. Male dominates the target market for the product. Survey of the market shows that male counterpart commands the economy. This attributes offers a competitive advantage for the product because it would dictate the buying patterns. The target age 15 to 35 displays leisure characteristics, which is very crucial for the product viability.