Marketing Strategy

Target Market Strategy

My main target group will be Generation Y-ers, which is 60million strong nationally, and spend nearly 200billion annually. Primarily males, of course, that are single, but I also wish to diversify by grabbing the attention of the same generation but, women who are also single, looking for love, by way of a bed spray. Also, I will target women of the same age range that are in relationships, that just want their husbands or boyfriends to smell good and be hip doing it. This target market puts us at three concentrated targeting markets with potential of skewing over into a couple more, which are the middle-agers, but are not a primary focus. The targeted markets are: "Young single- few financial burdens, Fashion opinion leaders, Recreation oriented, Buy: basic kitchen equipment, basic furniture, cars, equipment for mating game, vacations. Young married divorced without children- Better off financially than they will be in near future, Highest purchase rate and highest average purchase of durables, Buy: cars, refrigerators, stoves, sensible and durable furniture, vacations. Young married or divorced with children- Home purchasing at peak, Liquid assets low, Dissatisfied with financial position and amount of money saved, Interested in new products, Buy: washers, dryers, televisions, baby food, chest rubs, cough medicine, vitamins, dolls, wagons, sleds, skates."-pg.102 Hair Lamb McDaniel-MKTG.

From there, we can segment these groups into smaller groups by way of psychographic segmentation, benefit segmentation, and usage-rate segmentation, narrowing down our target markets even greater, "concentrated targeting violates the old adage 'Don't put all your eggs in one basket."-pg.107 Hair Lamb McDaniel-MKTG so, I plan on concentrating the targets to gain the advantages of focusing on one group, but still having variables to offset the potential threats of targeting just one target market. And also, conducting a market research to evaluate the potentials, because after all, "marketing research is a scientific approach to decision making that maximizes the chance of getting accurate and meaningful results."-pg114 Hair Lamb McDaniel- MKTG.