Apple and Phinnaeus or Julie and David: Whats in a Name - Essay Example

 Parents have become interested in baby names ever since important Hollywood people started naming their baby's strange names. This means that Korwitt’s business is not customer-driven, but rather the customers are the driving force behind the industry. All Korwitt did was to observe the behavior of modern-day parents and respond to a pre-existing need. Her business is reactive to market behavior rather than being proactive and introducing the idea to the market herself.2) Korwitt’s target market is parents who feel stressed about finding the perfect names for their children.

Because Korwitt’s book costs $399, only wealthy parents can afford to pay for it. There may be people from lower classes who want help in choosing a name, but they cannot afford to pay the same amount. Since most fathers are probably out working to support their families, Korwitt’s book is more for women who are stay-at-home moms. These mothers possibly already have children of their own or are about to have a child. These parents likely spend a lot of time watching daytime television talk shows, which is why Korwitt makes television appearances to appeal to these mothers.

These particular parents may also be “entertainment freaks” and keep up with all the latest gossip from Hollywood. If one of their favorite celebrities names their child a strange name, then these parents are more likely to want to do the same for their children. In this case, Hollywood celebrities are doing most of the advertising for Korwitt and she only has to wait for customers to come to her.3) Because this is a growth industry, Korwitt should worry about new market entrants that offer the same services for cheaper prices.

Many new websites are cropping up all the time. This represents a danger for her business. Because only wealthy people can afford their services, those with less disposable income may choose to go for services that are free or cost very little. Because Korwitt has a very restricted market niche, she needs to be careful that free websites do not gain any traction in the baby naming market. While these sites may be less personable, the cost alone may be a deciding factor for most new parents who are struggling to pay the bills due to their new addition to the family.