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... How can we target market objectives? ... Every business firm considers those questions; they try to solve problems by specific strategies or programming marketing plan in order to gain the biggest profit and market share. A car hire company that offers three kinds of car (small, large and luxury car) in one main airport and ten major towns in UK. In order to achieve the market goal, manager identifies the market target by some considerable factors in terms of segmenting, targeting and positioning market. In addition, an elaborate marketing plan that is develop and analyzed detailed in internal and external environments to market service to these target market.
Identifying the target markets
A target market is a group of consumers or an organization for which a company creates and maintains a marketing mix that specifically fits the needs and preferences of that group. Target marketing consists of segmenting, targeting, and positioning. (Marketing concepts and strategies, 2001)
l Segmentation should be measurable, accessible, substantial, actionable
? Consider variable for segmenting market
Markets may be segmented by consumer characteristics or by product related behavioral characteristics. ...
The considerations of renting a car probably include the characteristics of car, brand and rental price. Take company’s product, for example small car is easy to control and price may cheaper than others; big car has more seats and has bigger space than small car to carry stuffs; luxury cars can be a symbol of status or more comfortable while it is more expensive. ...
In airport- Generally, car hirers can be divided in to four groups, namely tourist, businessman, international student and residents. ... Comparing tourist and businessman with student and residents, company can gain more profit from former group for some reasons: first, tourist and businessman may rent car longer than others. Second, besides car renting, they need to accommodate during their journey, thus company have good opportunities cooperating with other firm in terms of hotels, restaurants, travel agents, insurance companies and so on to get more profit.
Approximate Word count = 1486
Approximate Pages = 5.9
(250 words per page double spaced)
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