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The Main Target Market of the Innovative Foamed Doom - Case Study Example

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In the essay “The Main Target Market of the Innovative Foamed Doom” the author discusses the different architects in the local United States market and the international market. The construction industry of the USA has been recovering from the after-effects of the worldwide economic recession…
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The Main Target Market of the Innovative Foamed Doom
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Download file to see previous pages In the year 2008, there were around 7,73,600 construction companies in the United States (AGC of America, 2011). All of these stats indicate that there potential and growth opportunity in the industry. The new concept of the foamed dome and other structures can be marketed to a considerably large target market.
The target market for the new product of foamed dome is large, however, the company will have to clearly identify the need and requirements of the market. The constructors and architects are in search of more environmentally friendly and inexpensive construction material. Different companies and firms are coming up with several innovative products and construction material in order to make the construction industry more sustainable (Miller, 2011). Apart from this, due to the recent economic crunch architects and constructors are looking for cost-saving solutions. The new and innovative product being introduced by the company will be able to cater to all these changing needs of the target market.
It is important to establish Point of Parity (POP) for any brand in order to make sure that the product or brand can be related to other products and competitors in the industry. This, in turn, allows the customers to establish the basic understanding and a point of reference. The Point of Parity (POP) in this case is that the foam dome is also used in the construction of different buildings and structures like other constructing material.
Once the Point of Parity (POP) has been created, the next step for the brand is the creation of the Point of Difference (POD). It is important to create a Point of Difference (POD) for a brand so that the customers are able to differentiate it from other products in the market.  ...Download file to see next pagesRead More
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