Ameriprise Financial, Inc - Research Paper Example

Ameriprise Financial The company’s target market is of people in the age bracket of 45 to 65. The reason for these is due to the fact that they have high disposable income compared to people of other age brackets. The said target market is of residents of Charlotte town in North Carolina and Fort Mill in South Carolina; the number of people in the towns who fall under the company’s target market are; 1,239,613 and 43,224,375 respectively. If the company is to have 1% of the market in this state’s then that would mean it has 12,396 clients in NC and 432,244 customers in SC in a year’s time, therefore, the company can make a minimum of 444,640 in sales for that particular year assuming each customer gets a product from the company.

The company will need to look into a number of things to improve sales and this are looked at in the sales forecast, direct costs will be more or less (Berry, 2014). However, the company will have to improve and inject more cash in some areas such as; advertising and marketing since the company seeks to target a younger customer base and to do this efficiently a marketing consultant will be needed. Clients tend to believe word of mouth to be the gospel truth and the company can exploit this by asking the current customers to help in the company’s advertising and giving discounts for every new customer acquired, seasonality is also bound to affect number of sales as the demand and supply varies with the season and time.

The companies can more than double its sales by targeting a younger market. The people aged between 18 and 40 are more than double the company’s current target market (Berry, 2014). Since the current target, market has 444,640 customers than if it was to advertise and target the youth then it would have a customer base of around 890,280 customers.Work CitedAmeriprise Financial and Ameriprise Financial News. Company Information. 2014. http://www.ameriprise.com/about-ameriprise-financial/Berry, Tim.

Forecasting Your Sales. 2014. http://articles.bplans.com/forecasting-your-sales/