Q Essay on Target market strategy- particular group which is identified for the purpose of satisfying the needs Home, - Target market strategy Target market strategy Introduction It is significant for any entrepreneur or firm to recognize the market in order to sell the existing products or launch of new products and especially in the new market. A target market is a particular group which is identified for the purpose of satisfying the need of such groups such as lower level, middle level and upper level of segments. Target market strategy The prime objective of marketing new and unique product is presenting its benefits to customers. Segmentation target market strategy will focus on multiple target segments. The new product will be introduced with the customer-driven marketing strategy which will assist in generating the value for the target customers (Vaussard, et. al., 2014). The strategy will include market segmentation and targeting of a market. Under segmentation of market, the market will get separated into the small segment of buyers having the variety of requirement, behaviour, and features and this will further require the separate strategy for a market (Solomon, et. al., 2014). Segmentation will be necessary for the generation of customers driven strategy as it will help in initiating the process of recognition of groups of a population of the market. Another process will be evaluation attractiveness of targeting market and selecting of one or more segment to launch the new product. Targeting will lead to understanding the high potential in the practical growth of the product. It is very necessary to select the correct customer in order to serve the role of success in a broad manner and also achieving high sales of new products such as robotic lawn mower. Target market and its attractiveness The market will be segmented with consumers who have a lawn in their homes and those who do not. Further segmenting will take place with those who have lawns with the geographical demographic market with the intention of identification of segment which values new product. Marketing efforts will include advertisement, inserting in newspaper and internet banner specifically on the identified segments. The target market for Roomba robotic vacuum cleaner will be based on the high income, middle and lower income as majorly high-income group afford money in home appliances of high technologies for cleaning their house and thus they will likely to spend more on this product. It will also be having more advantageous micro seal fresh air technology (Jobber and Ellis-Chadwick, 2012). Therefore the target market will consist of middle to upper-level class households especially those having no children and have 20 square feet land to mow. The target market is attractive due to the affordability of the product by household having no children and mowing lawn will not be a chore for them. They will also be having enough lawn space for the justification of the purchase of robotic vacuum cleaner for sake of ease and convenience. The robotic lawn mower is helpful in mowing the lawn and can also attract two main target markets apart from above namely elderly people as lawn mow will not be the simpler task for them and the machine will support in doing the mow of lawn (Barringer, 2015). The third target market will be people who are always on the go as they will not be having enough time to cut their grass. Further, the positioning of the product will be high as more people will have high income as they will have more income to invest in nicer yards than the lower income. All the target markets will also be considered with hot climates as there are many ill effects of this climate such as heat cramps, dehydration and heat stroke. Conclusion From the above, it is called that the segment of the market will be separate into lower, middle and upper-level income and further the target market or customer will be focused on elder age people, household having no children and people who are always in rush.
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