No Marshmallows, Just Term Papers
April 13, 2011
Creating a marketing plan consists of a lot of key elements coming together. You have to be on top of the marketing piece, always keeping up with the number for the financial piece, and making sure no one is left out of the loop when dealing with the management aspect of it because the market place is forever changing. What’s even more important than making sure these thing s come together is making sure you target the right consumers when it come to get your product out there. The consumers’ mind is constantly changing to ensure that they purchase that product that perfect for them. Consumers also communicate their preferences companies over other companies. To even get the attention of these comsumers in an extremely competition market in itself we have to distinguish ourselves from the competition. Before we can gather these new customers we have to establish who our already existing customers are. This is why market segmentation so such an important part of marketing plans.
Market segmentation is the process of breaking down all consumers into groups of potential buyers with similar characteristics. This is extremely important when it comes to promoting your product. HTC doesn’t want to waste millions of dollars in advertising cost because they were targeting the wrong consumers. Based on the market segmentation, we HTC have look at a number of reports and customer reviews and came to the conclusion that our customers groups as brand loyal customers who main purpose in obtaining a new product is because of the entertainment aspect. Our brand loyal customers are always purchasing the newest products we provide; because of these consumers we have had a number of top selling smart phones in the market the past couple of years. When it comes to the entertainment part we believe we can target those customers and provide them with their monies worth and more. We’ve brought the gaming...