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Target Market Strategy - Essay Example

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‘Strategy’ is the most important term in marketing, management, leadership, and economics. The research paper "Target Market Strategy" presents a fictitious product, called E-walker, and examines how STP strategy would help the company enter the markets and thus to achieve marketing success…
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Target Market Strategy
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"Target Market Strategy"

Download file to see previous pages It’s truly going to be computerized shoes or slippers in everyone’s foots. The microcomputer chips attached to these shoes or slippers can automatically measure one’s walk-distances, count his footsteps, measure his blood-pressure in foots, compute the speed of a sportsman etc. E-Walker will attract indoor players like badminton and tennis because it can electronically track one's footsteps and outdoor players like cricket and football due to that it can help players boost up their sports-ability through the digitized system it has been attached with.E-Walker would offer its products to both sports and footwear suppliers. Sports shoes and other shoes and slippers will be designed and developed differently, and therefore, it will be more economical for the company to use different supply chains to market them. Sports shoes will be supplied to sports suppliers. Other shoes and slippers will be supplied to general footwear suppliers. STP strategy to enter the markets and barrier to itSegmentation strategy of E-WalkerAs Bygrave and Zacharakis (2010, p.170) noted, segmentation is a company's basic marketing dimension for setting the strategic framework and is the key to marketing process of identifying the right customers of the company as well. For effective marketing, it should segment its market by breaking down the total market into sub-groups like geographical, demographic, psychographic and behavioral etc (Lancaster and Reynolds, 2001, p. 68). ...Download file to see next pagesRead More
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