The paper "The Target Market - Pentane Shampoo" is a perfect example of a marketing case study. Marketing can be described as a process of creating, communicating, exchanging and delivering goods and services to the customers (David et al, 2009). It covers aspects such as creating product or service awareness, market segmentation, targeting customers and the actual sell of the goods or services among other factors. It is a tactic marketing firm apply to identify the potential customers, satisfy the customers and maintain the customers, often referred to as creating customer loyalty (David et al, 2009).
It is important that organizations identify various marketing strategies that could be applied to enable them to concentrate on the available resources to explore the greatest opportunities that will generate higher sales and a sustainable competitive advantage. Profitability in the contemporary business world is defined by an organization’ s competitiveness and ability to control a larger market share. Moreover, an organization has to be innovative when it comes to identifying the applicable marketing strategies, in order to be able to convince customers to purchase its products, considering the fact that this is a competitive business world.
For instance, considering the Pantene brand, this is one of the few products that are being retailed in the Australian market. Pantene faces bigger threats from other companies that are not only producing the same type of shampoo but are even offering it a low price, together with other added benefits. In this paper, we will give an analysis of the Pantene Shampoo product, illustrating its target market, the marketing mix, competitive advantage and the way in which it marketing mix provides a solution to the target market’ s needs.
Pantene shampoo is owned by Proctor and Gamble and some of the Australian stores dealing in Pentane shampoo include Myer and Woolworths. The target market In any business undertaking, the focus of marketing strategies is its people, the aim is to reach a certain subset of individuals who are interested in a company’ s particular product (David et al, 2009). Therefore, a target market is this group of clients that the company aims its marketing strategies. These individuals’ possess similar features that set them apart as a group (David, 2010).
A company is able to formulate its marketing mix strategy of price, product, promotion and place/distribution more precisely after knowing its target market. Generally, Pantene shampoo is available in Australian stores such as Myer and Woolworths. The target market for Pantene shampoo is essentially anyone with hair, especially women, girls, and individuals who are hair conscious. In addition, the product targets individuals with hair problems or who are unhappy with the current status of their hair (Dyer, 2004). The reason behind this is that most personal care products are intended to solve an existing problem, as individuals with problems usually look for solutions, thus, such products are easily sold. Market segments and their needs Target markets are separated into four different segments which include geographic, psychological, behavioural and demographic.
These market segments allow a company to satisfy the needs of its customers better. Segmentation of markets is predicated upon the needs of the customers in that segment (Goldstein, 2007).
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