Tuesday, March 15, 2016

target market stategy

With this product I found that I would have to do a lot of research about the two different kinds of people when it comes to drinking vodka. The groups of people that likes it and the groups that don't. When putting a product out there I have learned that you need to know and understand the group of people you are talking to. So with this product our target area would of course be the group that obviously likes and enjoys to drink without a purpose. That is fine and all but that is most definitely not our main target. I had to dig deep into the people to see what they wanted and what they liked to even consider making this a reality. "In an ideal world, you would use market research to find out what your customers want and then design products to suit them". http://www.marketingdonut.co.uk/marketing/marketing-strategy/product-development. 
"The strategic plan defines the company’s overall mission and objectives". (Book) chapter. 2 pg 49. With that being said our strategic plan is to market the people that we mostly relate to first. Conservative people that like to actually taste there drink and not just chug it.  
I will also be focusing on the Place i will b selling this vodka at from searching for the right stores to searching for the right states and areas in those states, from the biggest cities to the rural smaller cities or towns. I feel like we have a great Product so that is not really a strategy. Promotion, in these areas would make a big difference on whether or not we will sale and our Price is just unbeatable. I want the customers to feel like royalty for a low price. Just because the price is low does not always mean that the quality of the product is not good because this product will trick you. Which is the reason why the price is so low. You are getting something great for an affordable price, you can not beat that. I think this is a great strategy also known as the 4 Ps. "Guided by marketing strategy, the company designs an integrated marketing mix made up of factors under its control—product, price, place, and promotion (the four Ps)". (book) chapter 2 page 49.

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