Marketing Report Assignment Example | Topics and Well Written Essays - 1500 words

Marketing Report - Assignment Example So what is marketing It is the analysis of customers, competitors, and a company, combining the understanding into an overall understanding of what segments exists, deciding on targeting the most profitable segments, positioning the product and then doing what's necessary to deliver on that positioning. Marketing is what is done to make the public aware of a product/service/company. This can include many things, advertising, public relations, person to person communications and more. It's important because without marketing your product won't be known to the public. The target location of the business is located in Kent , UK. It is located west of UK. The following factors are to be considering in describing our target market. Our business is a period picture framing and a small furniture workshop. First we must identify who will be our customer. Who among the resident of Kent would be interested in our product. Our segment definition is of itself strategic. We are not intending to satisfy all users of furniture intended for use with personal computers, but, rather, only those who are most demanding. We are definitely out to address the needs of the high-end buyer, who is willing to pay more for quality. In our particular market, we also seek the buyer who appreciates two attributes: the quality of furniture workmanship and the excellence of design, with an understanding of technology and ergonomics built in. Our target market is a person who wants to have very fine furniture with the latest in technology, combined with an old fashioned sense of fine woods and fine woodworking. This person can be in the corporate towers, small or medium business, or in a home office. The common bond is the appreciation of quality, and the lack of price constraints. We understand that our target market needs more than just furniture and pictures in frame. We need to grow out of the special needs of personal computing, when combined with other furniture - thus the picture frame fits the room being furnished Our target customer wants to have all of that plus fine furniture. There is a need for quality, reassurance of wood and good workmanship. We don't just sell a picture frame and furniture; we sell q uality design, plus workmanship. Market Segmentation Corporate executives: our market research indicates about 250,000 potential customers who are managers in companies of more than 100 employees. The target customer is going to be at a high executive level, in most cases, because the purchase price is relatively steep compared to standard office furniture. It will be not applicable to promote to someone the furniture who are not earning enough money. The people would appreciate it, but we will not be able to market the furniture since they don't have the means to purchase the said item. Like our company we can market our product to starting small business owners: our customer surveys indicate a strong market among the owners of businesses with fewer than 100 employees. There are3 million such businesses in this country, most of them with concentrated ownership that makes the owners potential customers. Since their company is just starting up they need furniture for their offices as well as pictures frame that will go with their furniture. Home offices: the home office business has proliferated during the 1990s, and we also have home offices for people employed outside the home.