Wednesday, August 29, 2012

Target Market Strategy

My market strategy will consist of approaching different people and attempting to build relationships with them. If a connection is made, I can share information about my charity. Consumers will want to be involved in the charity if they feel engaged to it. The goal is making a personal connection so the charity is valued to the consumer.  "Customer relationships and value are especially important in today’s tough economic times, when more frugal consumers are cutting back and spending more carefully. “The challenge facing us is not just one of consumers being more-value conscious,” says one marketing consultant. “It’s how we gain … a renewed relationship with consumers who have less inclination to listen to [companies with whom] they do not have strong and valued relationships.”" (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 4.)

My targeted demographic audience are people in their mid-twenties. The setting of the charity will be unpleasant to older people, and it certainly is inappropriate for minors. It would be inefficient for me to market to consumers of different generations because the environment of the charity is not intended to be enjoyable by other age groups."But marketing managers know that they cannot serve all customers in every way. By trying to serve all customers, they may not serve any customers well. Instead, the company wants to select only customers that it can serve well and profitably." (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 9.) A younger crowd would give value to this event. If my charity is valued to this caliber, consumers will demand more of my service.

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