Friday, March 12, 2010
Target Market Strategy
My target market is men between the ages of 25-35 with a household Income of 100k or people that aspire to make that. "Marketers of products such as clothing , cosmetics, personal-care items, magazines, jewelry, and footwear commonly still segment markets by gender", (MKTG Lamb Hair McDaniel, Pg. 100) These men will be single, and usually shop at stores like Saks, Diesel, Zara, Burberry, Whole foods, and Gold’s Gym. These men are not price conscious. My target market is also a very product loyal group. Once they find a product they love they continue to purchase that exact same product. So I will be considering loyalty marketing programs. " Loyal Marketing programs , or frequent buyer programs, reward loyal consumers for making multiple purchases". (MKTG, Lamb Hair Mcdaniel, pg. 247)This is good for me because once my customers fall in love with my product they will keep on purchasing it, and become dedicated loyal shoppers of "Dark Fog." Since my product is sold in Neiman Marcus's in the United States to pin point a specific ethnicty that will be targeted is very hard. I have no certain culture that I am trying to segment for my market stategy. I am just targeting young, male professionals ages 25-35, that have a successful career. I got my information from primary data which is " information that is collected for the first time; are used for solving the particular problem under investigation", ( MKTG Lamb Hair McDaniel pg. 116)
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