Target Market Essays (Examples)
Study Document
Lululemon Strategic Management
…
Competitive Forces Confronting Lululemon
Even though Lululemon has remained profitable over the years, the company is faced by various competitive forces in the market for performance-based yoga and fitness apparel. Given the attractiveness of this market to entrepreneurs and start-ups, the threat of new entrants in Lululemon’s market is high. The firm also faces a high threat of substitutes from established brands like Nike, Adidas and Reebok. However, the bargaining power … also faces a high threat of substitutes from established brands like Nike, Adidas and Reebok. However, the bargaining power of buyers in the market is low because Lululemon’s rivals act independently while the bargaining power of suppliers in moderate because of the intense rivalry in this market. Gamble, Peteraf & Thompson (2019) state that this market is characterized by intense competition, especially from established brands.
Strategic Group Map of this Industry
Based on my strategic group map,……
References
Reference
Gamble, J.E., Peteraf, M.A. & Thompson, A.A. (2019). Essentials of strategic management: The quest for competitive advantage (6th ed.). New York, NY: McGraw-Hill Education.
Study Document
Defending The Practice Of Social Media Marketing
How to Use Social Media Influencers to Promote Products
Social media market has become an important market strategy for companies today, as many consumers turn to social media for information on products and for their peers’ opinions on products (Lou … the best way to do this (Lim, Radzol, Cheah & Wong, 2017). This paper will describe the pros and cons of social media market and examine an example of a practical application.
Pros and Cons of Social Media market
The pros of social media market are that it allows the company to directly connect to consumers on platforms that consumers themselves choose to use for the purpose of … grow as consumer confidence in the company’s image increases through this level of direct engagement and interaction.
The cons are that social media market is not as easy to control as other forms of market. There is always a narrative……
References
References
Ki, C. W. C., & Kim, Y. K. (2019). The mechanism by which social media influencers persuade consumers: The role of consumers’ desire to mimic. Psychology & Marketing, 36(10), 905-922.
Lim, X. J., Radzol, A. M., Cheah, J., & Wong, M. W. (2017). The impact of social media influencers on purchase intention and the mediation effect of customer attitude. Asian Journal of Business Research, 7(2), 19-36.
Lou, C., & Yuan, S. (2019). Influencer marketing: how message value and credibility affect consumer trust of branded content on social media. Journal of Interactive Advertising, 19(1), 58-73.
Study Document
Organizational Concepts
… shareholders, owners, and staff members. At the very least, the organizational mission is linked to its core goals or objectives, which include the target population or market it serves, as well as why, and most importantly, how it will achieve those goals (Ahmed, 2019). The organization can also choose to … its mission into more specific parts, explaining factors like its operating goals, overall performance objectives, use or allocation of resources, position in the market, and more (Daft, 2013). Its mission statement will typically reveal the organization’s role vis-a-vis society at large, the target market or customer base, and also its employees.
All organizations serve some sort of need, typically via the provision of a product or service. … product or service. The mission of the organization is directly linked to the way the organization conceptualizes that need, the niche in the market, and the function of the organization……
References
References
Ahmed, A. (2019). Importance of mission vision in organizational strategy. The Chronicle. Retrieved from: https://smallbusiness.chron.com/importance-mission-vision-organizational-strategy-16000.html
Daft, R.L. (2013). Organizational theory and design. Boston: Cengage.
Metcalf, T. (n.d.). Contingency theory of organization. The Chronicle. Retrieved from: https://smallbusiness.chron.com/contingency-theory-organization-73865.html
Morgan, G. (2006). Images of organization. Thousand Oaks, CA: Sage.
Sire, J.W. (2009). The universe next door. Intervarsity.
Suhomlinova, O. & Currie, G. (2016). Organizational contingencies. The Blackwell Encyclopedia of Sociology. Retrieved from: https://doi.org/10.1002/9781405165518.wbeoso019.pub2
Study Document
Branding Study
...Target market Nike Should Move Production to the US and Make America Great Again
Introduction
Nike is a global sport, clothing and shoe supplier and retailer with over 1000 retail outlets in the US and with global brand recognition. Since its founding in the 1960s, the company has dominated the sporting industry with its apparel, shoes, accessories and sporting products—from golf balls to tennis rackets. One reason for its success has been its ability to brand itself as the company that produces the products champions use. Nike is associated with winners like Michael Jordan and Tiger Woods and LeBron James. When people think of Nike, they think of winning, and the trademark phrase of the company—“Just Do It”—has inspired millions of customers to put on Nike gear and go out onto the field to give it their all.
Overview of Firm
History
Nike was founded by Phil Knight and Bill Bowerman as……
References
Works Cited
“About Nike.” Nike, 2000. https://about.nike.com/
Global News. “Nike shoes burn on social media as Colin Kaepernick features in ‘Just Do It’ campaign.” Global News, 2018 https://globalnews.ca/news/4425379/nike-shoes-burn-colin-kaepernick/
Morning Consult. “Nike's Favorability Drops Double Digits Following New ‘Just Do It’ Campaign with Colin Kaepernick.” Morning Consult, 2019. https://morningconsult.com/form/nike-kaepernick-report/
Peters, Jeremy. “The Birth of ‘Just Do It’ and Other Magic Words.” The New York Times, 19 Aug 2009. https://www.nytimes.com/2009/08/20/business/media/20adco.html?_r=3&ref=busine ss
Storey, G. “Nike and the importance of meaningful brand values.” Polpeo, 2019. https://polpeo.com/nike-and-the-importance-of-meaningful-brand-values/
Study Document
Pablo Escobar
...Target market Pablo Escobar: A Classic Anti-Hero
Pablo Escobar established his reputation as a modern-day Robin Hood: a man who genuinely did come from a humble working class background and who at some point did actually give a lot of money away to social service organizations in Colombia. He was also an astute businessman who recognized trends and opportunities in the illicit drug trade. Yet Escobar was no hero; he was “violent” and “ruthless,” (“Pablo Escobar Crime Files,” 1) and was directly responsible for “terror campaigns that resulted in the murder of thousands,” (“Pablo Escobar Biography,” 1). This dichotomous figure has become one of the world’s most notorious anti-heroes. He became so iconic as to have his story been made into numerous television shows and films, such as the Netflix series Narcos. Escobar’s story reveals the inherent problem with the war on drugs, and signals the need for change in international drug……
References
Works Cited
Kenney, Michael. “From Pablo to Osama: Counter-terrorism Lessons from the War on Drugs.” (2003). Survival, 45(3), 187–206. doi:10.1080/00396338.2003.9688585
“Pablo Escobar Biography.” Biography.com. Accessed 4 Dec, 2019 from https://www.biography.com/crime-figure/pablo-escobar
“Pablo Escobar Crime Files.” Crime and Investigation. Accessed 4 Dec, 2019 from https://www.crimeandinvestigation.co.uk/crime-files/pablo-escobar
Pobutsky, Aldona Bialowas. “Peddling Pablo: Escobar\\\\\\\\\\\\'s Cultural Renaissance.” Hispania, Vol. 96, No. 4, Dec 2013, pp. 684-689.
Thompson, D. P. (1996). Pablo Escobar, Drug Baron: His surrender, imprisonment, and escape. Studies in Conflict & Terrorism, 19(1), 1996: 55–91. doi:10.1080/10576109608435996
Study Document
Healthcare Marketing
Introduction
When it comes to healthcare market there are certain restrictions that have to be followed under U.S. law. For example, the FDA has rules for companies that want to … there are certain restrictions that have to be followed under U.S. law. For example, the FDA has rules for companies that want to market pharmaceuticals directly to consumers. Truth-in-advertising laws have to be complied with. Stark Law rules and HIPAA rules both determine the extent to which … to be spread publicly in violation of the privacy rights of patients (Lane, 2019). Moreover, aside from issues of compliance, the nature of market has changed to such an extent within the last few decades that much of advertising itself has migrated from old media to new … an extent within the last few decades that much of advertising itself has migrated from old media to new media to focus on……
References
References
Arnold, D. G., & Oakley, J. L. (2013). The politics and strategy of industry self-regulation: the pharmaceutical industry's principles for ethical direct-to-consumer advertising as a deceptive blocking strategy. Journal of Health Politics, Policy and Law, 38(3), 505-544.
Blythe, J. (2009). Key Concepts in Marketing. Los Angeles: SAGE Publications Ltd.
Chand, S. (2019). Target Marketing: Four Generic Target Marketing Strategies. Retrieved from http://www.yourarticlelibrary.com/marketing/target-marketing-four-generic-target-marketing-strategies/13400
Dolliver, M. (2009). Take care when targeting the younger generations. Retrieved from https://www.adweek.com/digital/take-care-when-targeting-the younger generations-online-113643/
Goi, C. L. (2009). A review of marketing mix: 4Ps or more?. International journal of marketing studies, 1(1), 2.
Hartley, K. & Rudelius, W. (2001). Marketing, The Core, 4th Ed., McGraw-Hill.
Hawn, C. (2009). Take two aspirin and tweet me in the morning: how Twitter, Facebook, and other social media are reshaping health care. Health affairs, 28(2), 361-368.
Lane, T. (2019). Healthcare marketing laws. Retrieved from https://smallbusiness.chron.com/healthcare-marketing-laws-67307.html
Study Document
Childrens Amusement Park
market Plan for a Children’s Amusement Park
Executive Summary
The market objectives for this paper are to create a strategic market plan that considers the situational analysis, target segmentation, market mix, financials and controls needed to get the Park to the kids and get parents to buy an annual membership.
The vision for … are excellent customer service and people skills so that customers always feel valued and that they are getting good value for their money. market must also understand the target segment and be able to tailor the market strategy to the needs and behaviors of the target by using models like Maslow’s hierarchy of needs.
The value chain will be used to ensure competitive advantage by keeping inventory costs down, … as follows. First, the situation analysis will be provided with an examination of the Park’s SWOT and external environmental factors. Second is the target segmentation of……
References
References
Andzulis, J. M., Panagopoulos, N. G., & Rapp, A. (2012). A review of social media and implications for the sales process. Journal of Personal Selling & Sales Management, 32(3), 305-316.
Appelbaum, S. H., Habashy, S., Malo, J. L., & Shafiq, H. (2012). Back to the future: revisiting Kotter's 1996 change model. Journal of Management Development, 31(8), 764-782.
Chyi, H. I. (2005). Willingness to pay for online news: An empirical study on the viability of the subscription model. Journal of Media Economics, 18(2), 131-142.
Douglas, E. (2019). Houston economy to grow bigger, slower than other Texas cities: analysis. Retrieved from https://www.houstonchronicle.com/business/economy/article/Houston-economy-to-grow-bigger-slower-than-other 13903941.php#targetText=The%20Austin%20metro%20area%2C%20which,pace%2C%20according%20to%20the%20projections.
Frederick, S., Novemsky, N., Wang, J., Dhar, R., & Nowlis, S. (2009). Opportunity cost neglect. Journal of Consumer Research, 36(4), 553-561.
Lin, C. F. (2002). Segmenting customer brand preference: demographic or psychographic. Journal of Product & Brand Management, 11(4), 249-268.
Mangold, W. G., & Faulds, D. J. (2009). Social media: The new hybrid element of the promotion mix. Business horizons, 52(4), 357-365.
Teece, D. J. (2010). Business models, business strategy and innovation. Long range planning, 43(2-3), 172-194.
Study Document
Using DoorDash To Promote A Restaurant Brand
Implementing the market Strategy
Introduction
Just as important as developing the market strategy is the process of implementing the strategy. Implementation has its own set of challenges that have to be addressed, however. These include … include forming strategic partnerships, managing top-selling products, improving pricing strategies; developing sales Promotion, advertising and sale promotion strategies; developing digital strategies and measuring market performance. This paper will address each of these challenges and offer solutions for implementing the market strategy for OPG.
Strategic Partnerships
Strategic partnerships the company could develop to help promote both companies could be to look for a local … well, since it would allow data to be collected from people who visit the website and stored in the cloud for processing.
Measuring market Performance
Measuring market performance can be accomplished by comparing sales year over year and month over month. It can be measured by using Six Sigma as……
References
References
Gallardo-Echenique, E. E., Marqués-Molías, L., Bullen, M., & Strijbos, J. W. (2015). Let’s talk about digital learners in the digital era. International Review of Research in Open and Distributed Learning, 16(3), 156-187.
Gibson, C., & Homan, S. (2004). Urban redevelopment, live music and public space: Cultural performance and the re?making of Marrickville. International Journal of Cultural Policy, 10(1), 67-84.
Lawson, C. (2007). Victorian Young Planners: News and Views-Pot, Parma and Trivia Night. Planning News, 33(6), 12.
Queensland. (2020). Key components of a digital strategy. Retrieved from https://www.business.qld.gov.au/running-business/it/digital-strategy/key-components
Study Document
Elite Business Solutions EBS Worldwide Inc Field Report
… part of any business because, given the ever-shifting economy and the relevant economic forces, a business must change to adapt to the prevailing market forces (Doppelt 2017). The process of change management can either be successful or a failure, and its success or failure can significantly affect … to change, and though the website had taught him invaluable lessons, the turned EasyBuyMusic to EBS Worldwide (Rodrigues 2012). Today EBS Worldwide provides market tools and services and has offices in India, Europe, and the US. Some of its products are market, CreditMax, and PeopleMax.
Changes the entrepreneur made
The entrepreneur made a complete transformation of the company, not only the name but also the … However, it is to be noted that these changes began after the CEO had noticed the need for change to respond to the market forces and the changing customer needs.
After EasyBuy, the business did……
References
References
Doppelt, B., 2017. Leading change toward sustainability: A change-management guide for business, government, and civil society. Routledge.
EBS Worldwide Inc., 2009. Retrieved from http://www.ebsworldwide.biz/index.php
Financial Express, 2002. EasyBuyMusic renames itself, expands product range. Retrieved from https://www.financialexpress.com/archive/easybuymusic-renames-itself-expands-product-range/37717/
Rodrigues, M., 2012. Five entrepreneurs tell us how they reinvented themselves. India Today. Retrieved from https://www.indiatoday.in/magazine/supplement/story/20120813-business-entrepreneurs-stock-vinay-gupta-nikhil-velpanur-759294-2012-08-01
Shirey, M. R. (2013). Lewin\\\\\\\\\\\\'s theory of planned change as a strategic resource. JONA: The Journal of Nursing Administration, 43(2), 69-72.
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