Individual Target Market Paper Essay Example | Topics and Well Written Essays - 1250 words

Individual Target Market Paper - Essay Example Basing on the consumers’ essence in the distribution of the producers or the suppliers, there is need to evaluate various aspects of the customers in the market. A company should uphold excellent delivery of its products or services to the consumers in the market. Nonetheless, effective marketing would only result after a comprehensive product or service identification. Therefore, this exercise intends to research on the current customer base, buyer behavior, demographics, psychographics, lifestyle, geographic area, benefit segmentation, and user segmentation for the product or service. In every case, there will be identification of the best mechanisms to be employed as well as the provision of preferences for the models (Parkin, 2009). The current customer base incorporates the number of consumers that the business delivers its products or services. The current customer base is essential for consideration in the business because it is the group of individuals utilizing the co mpany’s products and the services or both at the moment. Nonetheless, many businesses tend to neglect this business opportunity and prefer seeking new customers’ interests to deal in their products (Rogers, 2010). Their main purpose is to create extra profits through the venture. Current customer base is significant in every business since it entail a number of advantages. In the first instance, the current customer base can indicate the ultimate path for the business. This can by achieved by bringing the customers on board to get their comments basing on the business’ products and services. It is easier to maintain the current customers and satisfying their desires since their demands might only be modification of the existing trends of a company. Focussing on the current customer base would also help in determining customers’ relationship with the company. The company would need to develop a number of mechanisms to attain a successful customer base. The company should get the customer to buy more of its product. The company can formulate the mechanisms that ensure that the customers buy more products once the customers realize that the product can effectively satisfy their needs. For instance, the company can offer discounts on bulk purchases. The company can get the customers to upgrade their products. The company can also get the customers to purchase more of its products. The repeat of sales can create more profits. The business should also consider its actions before dropping their marketing efforts. The business should consider the best means and reach the customers through it, probably after every month. The business should design marketing materials especially before beginning to market the current customer base. The start today aspect should target the encouragement of the customers that even though they have not began using the company’s products being marketed, there is still a chance and they can still use it and benefit (Parkin, 2009). The buyer behaviour should be determined by the business because different consumers possess different decision procedures in buying and utilizing the products. There should be an explicit understanding made by the business on why the customers make given purchases, why they make the observed purchases and the current trends occurring in the society. Throughout this experience, the business should determine and effectively address the critical aspects

Summary Coursework Example | Topics and Well Written Essays - 500 words - 1

Summary - Coursework Example Chinese security regulators also allowed traders of Shanghai and Hong-Kong to trade on each other’s markets. In terms of ex-Chief economist of the World trade organization these Chinese acts are to show Chinese leadership of the region, and it also depicts Chinese political ambitions. China has also made a deal with the  United States in order to remove tariffs on variety of Information technology products. Both countries will also  attempt to make other countries pursue the same strategy  under the  World Trade Organization (Bradsher & Stevenson, 2014). Warren E. Buffett’s ‘Berkshire Hathaway’ is decided to buy ‘Duracell’ from Procter & Gamble, valued at $4.7 billion by swapping his holding in P&G  with the re-known battery company. The deal is named as ‘cash-rich-split-off’. Through this deal, Warren E. Buffett found a way to buy a well-known brand without much tax bill. Internal Revenue service allowed such sell without big tax hit. On the other hand, P&G  has decided only to focus on its major money making businesses of toothpaste, detergent, and razors. Mr. Buffett has been a strong advocate of higher personal taxes. However, like many other companies, using so-called inversion; Mr. Buffet has traded with many high-named companies. However, he has called the two paradoxical actions as consistent  and strongly defended his actions in media. Mr. Buffet is more inclined in buying companies than holding major stakes. The purchase of Duracell, which makes 25% of the global battery market, is in the same line of actions. On the other hand, P&G is perusing a policy of shedding its small businesses (De La Merced, 2014). Delaware Court of Chancery Vice Chancellor said Royal Bank of Canada ought to pay $75.8 million to cover  losses incurred  by  Rural/Metros former shareholders  due to RBC’s inability to disclose the conflicts in interest that tainted the $438 million buyout of the ambulance operator. The