Nobody downloaded yet

Target Market - Assignment Example

Comments (0) Cite this document
Summary
The Market Target Market The IKEA Application (Virtual Furniture) is designed as a Multi-platform application which means that the majority of Mobile phone and Tablet users have access to the Application. The Application is intended to not only make furniture more readily available but to help minimize excess time and money spent returning an incorrect product because of incorrect dimensions or colour…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.6% of users find it useful
Target Market
Read TextPreview

Extract of sample "Target Market"

Download file to see previous pages IKEA doesn’t just provide its clientele with high quality, low cost furniture; they also offer their clients delicious food from their restaurant, and provide transportation for larger items. IKEA’s in store revenue has been inclining quite steadily, and there has been a 9.8% increase on their online retail store, a 7.4% increase on online furniture category sales and a 2.9% increase in its total furniture sales throughout all their distribution channels (Fig 1). In order for IKEA to keep growing, and remain competitive is to provide a service that is readily available to the majority of the market, that service can be easily made available as a mobile and tablet application. As part of the New IKEA Virtual Furniture Application, our team intends to integrate: the whole online catalogue (approx. 10,000 products), BESTA Planner (which is a feature on the IKEA website that allows the customer to design the colour, style and format of any of IKEA’s furniture’s), Create Cozy (which is another feature on the IKEA website that lets you design the layout of a room), ability to input dimensions (this feature will allow the customer to input the dimensions of their wall/room in order to distinguish if a piece of furniture is too large for that section of the room, see (Fig 3.)) The application will come in bended with a new feature called Draw Furniture which allows the customer to draw their own furniture and decide its dimensions and colours, and the feature will automatically select the closest furniture (from its online catalogue) that matches the dimensions and style of the furniture drawn. If the furniture drawn does not have any matches, IKEA will promptly build it upon payment. (See Fig below for preview) The Android OS Smartphones are currently dominating the Smart Phone Market Share at 36% and the Apple I-OS is at 27% total market share (Fig 2). Now Windows Mobile is only just reaching 10%, but they’re mobile phones are increasing in processor speeds and storage space which will have a major increase in its future users. The IKEA will be made a multi-platform application making it available to the Android OS, Apple I-OS and the Windows Smart Phones, making it available to a total of 74% of the total Smart Phone Market. A rental scheme will also be introduced for selected customers by making selected mobile smart phones and tablets available to rent to enhance the shopping experience and promote loyalty towards IKEA and also a way of goodwill from IKEA. Competition Our investigation has specified that there are currently no other retail applications offering all of their online features in an Application. Harvey Norman is in the process of developing an application that allows the customer to select a particular product such as kitchen-ware, furniture and other appliances but does provide all of their online features in the application itself. There are also a few interior decorating applications but these do not offer the inbuilt purchasing capability that IKEA does. The IKEA Virtual Furniture Application is a one stop shop for any consumer looking to purchase furniture. Value Curve The value curve helps to understand what features a customer see will add value to their experience; in this case the curve compares in-store purchases, online purchases and the IKEA Virtual Fu ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Target Market Assignment Example | Topics and Well Written Essays - 750 words”, n.d.)
Target Market Assignment Example | Topics and Well Written Essays - 750 words. Retrieved from https://studentshare.org/business/1450106-business-planing-assignment
(Target Market Assignment Example | Topics and Well Written Essays - 750 Words)
Target Market Assignment Example | Topics and Well Written Essays - 750 Words. https://studentshare.org/business/1450106-business-planing-assignment.
“Target Market Assignment Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/business/1450106-business-planing-assignment.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Target Market

Target Market Strategy

...TARGET MARKET STRATEGY …………………. College/ ………….. …………. Introduction ‘Strategy’ is perhaps the most important term in the academic disciplinary of marketing, management, leadership and economics. Strategy plays significant roles in helping an organization achieve its goals, from the very beginning of the planning, designing and developing a products and until the last steps in customer-feedback analysis. In today’s highly dynamic and complex business environments, marketers look at most effective strategies that can help them gain competitive advantages and compete with their counterparts in the market. This piece of research paper presents a fictitious...
4 Pages(1000 words)Essay

Orange juice target market

...Establish & Adjust the marketing mix Golden Circle Orange Juice The target market that is being depicted from the first advertisement of Golden Circle juice is the middle class families and people who do not like orange pulp in the juice. The product is an Orange juice. The product is a normal consumer good that is not durable and is full of nutrients and energy. The orange juice is very famously drank by everyone around the world and so here. The pricing is according to the ingredients used by the manufacturers and apart from that the target market has been kept as the factor in deciding the price. The promotion is being done through advertisements and...
3 Pages(750 words)Essay

Target Market

...%. TARGET CUSTOMER The target customers of CNG buses are: Mass Transit Agencies Urban Transit companies Private Fleet operators Institutions (including schools & Universities), organizations and private companies owning their own fleets Governmental organizations (having their own fleets) Agents & distributors in other regions Airports(for shuttle services) From a layman’s point of view, the governmental and institutional sectors provide good growth opportunities. However, on a broader horizon, it can be seen that world markets other than USA provide exponential growth opportunities. These regions include Pakistan, the 2nd largest consumer of CNG vehicles where government has heavily...
2 Pages(500 words)Essay

Target Market

...Target Market Introduction After a business enterprise has segmented its market and define its target market, the position of the brand would be set to be achieved. This would be accomplished through advertisement where the advertising message is of paramount importance for influencing the target market. The message should inform, persuade and remind (Brumfitt, Barnes, Norris & Jones, 2001). It should be precise, clear and measurable to help measure its success after a campaign. A message would be successful only if it would appeal to the target audience, thus the need to constantly refer to the...
2 Pages(500 words)Coursework

Target Market

...is the average disposable income of these nations on the rise but also, the aggregate demand for quality cosmetics and increasing need for skin and hair care are all factors that are collectively responsible for posing an enormous potential for the company. Threats Consumers all over the world are getting more health conscious. They are increasingly depending more on natural ways of beautifying. This has resulted in an incline in the herbal product industry and consequently a decline in consumer spending on luxury beauty products. This, along with the overwhelming competition prevailing in the industry of cosmetics, poses serious threats to Mary Kay (Datamonitor, 2008). Target Market Mary Kay brands...
4 Pages(1000 words)Essay

Marketing plan ( Target Market )

...TARGET MARKET: The main target market of the new ‘foamed dome’ will be the construction companies who are into the business of constructing differentbuildings. Also, the company will be targeting the people who are the owner of different buildings. The initial market research concluded that there are certain areas of construction which can be targeted by the new foamed dome. These areas of construction are as follow: Bulk Storage Cold Storage Educational Construction Covers for industrial tanks Light commercial constructions Planetariums Recreational Construction (such as golf course starter house) So the target market of the new foamed dome will be the owners of all these facilities and also the builders and constructors who... are into the...
6 Pages(1500 words)Assignment

Target Market

...Target Market Kotler argues that one of the key concepts in marketing management is to choose target market correctly and communicate them effectively about the product. None of the product can ever satisfy everyone in the market. That is why so many companies vie for their share in the market by carefully choosing their target market based on the features of the product and distinct need of the customer that can be satisfied through their product offering. Anheuser-Busch has developed a product called a zero calorie beer. The product has been developed keeping in mind the distinct class...
1 Pages(250 words)Research Paper

TARGET MARKET & COMPETITIVE ANALYSIS

...The Cheesecake Factory: Target Market Introduction Market segmentation and choice of target market are important elements of marketing strategy. A company that segments the market and identifies target segment(s) ends up delivering superior customer value (Dibb & Simkin, 1997). What is important is that the company satisfies the needs of its target market in a better manner as compared to its competitors. The Cheesecake Factory located at 251, Macy’s building, 8th floor, Geary St, San Francisco, CA 94102 can segment the market and target...
4 Pages(1000 words)Essay

Segmentation and target market

...Segmentation and Marketing Germany is one of the most developed countries in modern days and one of the most common companies in the country is Henkel Electronic Materials that has a reputation of purchasing other brands of phones and remarketing them within the country. The company has had numerous strides in terms of different aspects and innovation; thus, it is a suitable target for the marketing of the new Samsung Galaxy Note. Samsung produced the new product with the hope of having the users enjoy comfort and relaxation, which is one factor that Germany is known for from the numerous products that the Germans purchase to make life easier. In the successful marketing of any product, it is important to analyze various aspects... factor to...
3 Pages(750 words)Research Paper

Target market

... Target market It is important for restaurants to identify a target market so that they cannot only identify the specific requirements of their consumers but also shape their products around such needs. Thus without being aware of their target market, or whether there is existence of an audience, restaurants cannot reasonably expect their business to survive. Restaurants that have discovered how to recognize target audience of customers have a strong prospect of convincing lenders to come to their support. In addition, when a restaurant learns how to differentiate between various audiences it becomes simple for them to establish what consumer segments to accurately support their business and whether they are going to be converted... into...
1 Pages(250 words)Article
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Target Market for FREE!

Contact Us