Targeting and Strategic Marketing
Business growth and development of any company or organization is highly determined by the kind of promotion and advertisement done by the company to its potential customers. Effectively, before the promotion strategies are established, target marketing should have been done. Target marketing here refers to the concept by which a business company narrows down its market to a specific market more so with almost similar interests, needs, and preferences. Through this concept of target marketing, the company tries to align its products and services with the needs and preferences of their customers. This process makes the process of promotion, pricing and also supplying their products and services easier and even cost-effective to the producer thus lowing price hence advantage to the buyer. For example, in Kill_Capture the management identified its customers that is combat veteran whereby by its jacket and other products are designed unique and purposely for the veterans. As result, its pricing, promotions and also distribution become easy cheaper thus maximizing their profit. This essay will discuss the demographic characteristics present in Kill_Capture Case study. Also, it will cover the psychographic segmentation within the same case study and how the application of the concept of self-orientation. Lastly, the essay will discuss the kind of targeting strategy that Kill_Capture employs.
This is one of the bases used in the process of target marketing. It refers to specifying of customers in terms of personal traits which include age, income, marital status, race among others. This helps business companies establish their specific customers and therefore, they can serve them effectively due to the low cost of distribution, promotion and also pricing. In this case study, Kiil_Capture targeted specific customers which they identified them through target marketing. Their customers were in the age bracket of between thirty and forty years of age. As a result of establishing the age of the customers, the common is able to develop strategies that will favor the identified. In addition, in terms of profession or occupation as a characteristic of demographics in target marketing, the company targeted four different occupations such as veterans, firefighters, FBI, and police by providing them with uniforms. Moreover, market size also is another demographic characteristic. Kill_Capture market size is estimated to be over twenty-two million veterans. This helps the Kill_Capture understand how many jackets to be produced because already the company knows the size of the markets hence reducing cases of market shortage and excess. Income is another demographic characteristic. Kill_Capture target market consists of customers who have a high payment and therefore, the company realized that its business might succeed in this market. This is because the market has a capacity to purchase thus leading to company development. Lastly in the length of residence or the place of operation. From the case study, Kill_Capture operates only in the United States of America. This helps the company to establish its area of jurisdiction as far as job operations are concerned.
Application of the concept of self-orientation in psychographic segmentation
The concept of self-orientation involves planning and producing in order to benefit the producer to a greater extent. On the other hand, psychographic segmentation involves grouping business market based on customer values, beliefs, interests and the like. To this extent, Kill_Capture in the case study used the company uses the images of the prominent and respected person in order to make the customers interested in the product. For example, Kill_Kapture uses the picture of retired United State Marine Corps general. This would make the customers who are police and also FBI gain interests with the product since the retired Corps general was one of the respected police within the army of the United States of America. Also, the models wearing the jacket were combat veterans. This made the customers of the product of Kii_Kapture even more interested. Lastly, the jacket from Kii_Kapture also used the picture of most powerful police officer Mattis who is now the Secretary of Defence under the administration of current American president Ronald Trump. This made the product more unique and tough thus making it competitive in the market.
Targeting strategy used by Kiil_Kapture (Niche marketing)
In any business company, market segmentation in the first thing to be done. After this, the best suitable target strategy is chosen in order to ensure smooth and effective operations of the business. Targeting strategy, therefore, refers to the process of defining the market, evaluating which segment is the best for the defined market and then determining the kind of product to be offered in the defined market. There are several target strategies such as mass marketing, differentiated marketing, niche marketing, and micromarketing. In this case study, Kill_Kapture uses niche marketing. This is kind of target strategy focuses on either one or a few specific segments of customers in the market. For example, Kii_Kapture only focuses on veterans, FBI, and police. This strategy is advantageous because all company resources in terms of market analysis, promotion strategy and the like are channeled in only one or specific segments which can be very profitable. Kill_Kapture market is the only provision of jackets to only veterans, FBI and police.
In conclusion, therefore, target marketing is one of the best strategies that companies in order to develop a competitive advantage in the marketplace. This is because, the company understands the customers in terms of needs, interests, preferences and the like thus able to meet leading to customer satisfaction. Targeting marketing comprises of market segmentation in three bases. They include; demographic segmentation which involves age, occupation, income, lifestyle and the like. There is also psychographic which comprises values, beliefs, and interests. Lastly is geographic which involves regions, country, and race among others. After the market segmentation, marketing strategy is identified which best fit the selected defined market. For example in the Kii_Kapture Company, it uses niche marketing because its market is specific with common interests and needs. Also, the targeting market determines the price, promotion strategy and also distribution means.
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