Marketing Target Market Analysis Paper
5.1 Target Market
Lynn (2011) asserts that the key to successful marketing is being able to segment a target market effectively. Based on this belief, we decided to choose three key target markets. These include the students, visitors to the country and the university staff. We believe that these market segments are best placed to help in achieving the group’s objectives.
5.1.1 The Students
The university students who are targeted by the event are mainly youths aged between 18 and 25 years of age. These students are robust and dynamic and more likely to try new things as compared to others. Moreover, they are also characterized by the intrinsic sense of freedom and desire to achieve new goals. For the event to be successful, gaining the trust of as many students as possible will be necessary.
5.1.2 The University Staff
Besides the students, the university staffs are more likely to be attracted by the event due to its newness and the proximity of the event to the school neighborhood. Moreover, based on our relationship with most of the staff in the campus, we expect that they will be willing to join our bid to market our city to the outside world through an exhibition of the city’s diverse range of cuisines. This group varies widely in terms of age group but generally consists of individuals who are above 28 years of age. Most of them are above 50- years. We believe that most of them have also experimented with most of the city’s cuisines and would be attracted more by our plans than by the foods themselves.
5.1.3 Visitors to the city
Visitors also form a unique group in the event. The visitors cannot be predicted to be of a particular age group. However, it is assumed that most of them have never been to the country before and thus more willing to try out new things and different cuisines as provided in the group’s event.
5.2 Reasons for Choosing the Target market
As previously said before, the students are youthful and more likely to engage in a lot of experimentation. The decision to include students as part of the target market was based on the fact that they can be easily accessible. Although the distance from the campus to the school is somewhat a challenge, students have their own ways of coming up with issues to enable them attend the event. Moreover, students are also good at spreading new by word-of-mouth hence by including them; the group would gain higher visitation rates to the event.
The university staffs were selected as part of the target population for two reasons. The first is that this project was done as part of the course work and thus there has to be representation from some of the professors. Secondly, the staffs also form part of the population of this city and understand that there are varied cuisines within the city. However, it is not clear whether each of them has had the opportunity to experience the wide variety. We believe that through the group’s event, they will be able to experience this phenomenal aspect of the city’s diversity and thus appreciate it more. As adults, they are also in a position to influence others to experiment with the foods available in the city. They are also well positioned to provide corrections and recommendations for good practice principles where possible.
It is the desire of the city to attract and retain repeat visits from those who would like to know more about the city’s culture. The visitors have been selected as part of the target market for the event as this will help them experience a deeper sense of oneness with the city. The probability that they have never experimented with the diverse foods in the city is also high hence engaging them through the project will be helpful in marketing the city to the outsiders.
5.3 Communication with the Target Markets
In order to attract the attention of the students and their participation in the event, social media is considered to be the most effective method. This is because most of the students in the campus are on various social media platforms. Information also goes round quickly through the cheap social media platforms hence this choice of marketing approach.
5.3.2 University staffs
According to Wood (2009), marketing has to entail engaging the right target market through the right methods. For the university staffs, the most appropriate methods would be the use of posters and fliers distributed by the group members.
For the visitors, distributing fliers on the streets on the day before the event will help reach as many of them as possible. The probability of reaching a visitor on the streets is much higher than the probability that the visitor would be within the campus. The group will therefore try as much as possible to distribute many fliers before the events. It may also be necessary to strategically place some posters on the streets.
Lynn, M. (2011). Segmenting and targeting your market: Strategies and limitations. Cornell University School of Administration Papers. Retrieved from http://scholarship.sha.cornell.edu/cgi/viewcontent.cgi?article=1238&context=articles
Wood (2009). Evaluating event marketing: Experience or outcome. Journal of Promotion Management, 15(1-2), pp. 247- 268.