The paper "Analysis of Targeted Market - Antibacterial Portable Hand Soap AntibaSoap" is a good example of a marketing case study. Asia is an expansive continent that brings together forty-seven countries with an estimated population of 60% of the current world population while it accounts for 8.6% of the earth surface (Cook, 2008). Within the continent, the external environment contains different credentials and possibilities that encourage or restrain business activities. Introduction of a new product such as Antibacterial Portable Hand Soap “ AntibaSoap” requires a specific strategic plan to ensure it succeeds in the new environment.
Thus, the aim of this paper is to analyse the targeted market, positioning strategy, product strategy, price strategy, place strategy, and promotion strategy. Moreover, the paper correlates these different strategies to ensure the formulation of an appropriate plan to ensure that AntibaSoap succeeds in the new market. Analysis of Targeted Market Markets are large and organisation usually cannot fulfil requirements, wants and needs of all their customers. For example, if an organisation decides to market their products to the entire market, it may result in a massive drain in the company resources and may translate in affecting the entire company.
Thus, the creation of market segments is important in that it ensures that specific portions or sectors are determined and will result in a concentration of resources. Drucker (2006) defines a market segment as an organisation, group or individuals who share one or more features/characteristics that result in them requiring similar products and services while the targeted market is the specific market segment that a service or product is marketed to. Since Asian is a large continent, two segmentation strategies will be used.
The first strategy is through demographic segmentation while the other is geographic segmentation (Baker & Hart, 2007). These two segments are discussed as follows: Demographic Segmentation Fletcher & Brown (2008) state that demographic segment contains features such as gender, education, age and occupation. In this case, AntibaSoap is marketed specifically to women between the ages of 15 and 29 years and should be in the middle class. Soap is an important integral for women and within this age bracket, most women can afford the soap or may be assisted by their parents.
Thus, it is an appropriate market that ensures that the organisation will succeed in the accomplishment of its requirements. Geographic Segmentation Geographic segmentation divides a region, town, country or continent into areas that can be managed by the same marketing strategy. Asia is a large continent and meagre resources require that specific geographic location should be picked to help in making the marketing plan succeed. Thus, the AntibaSoap will be marketed in Hong Kong for a pilot test before introducing to the entire Asian region (Cook, 2008).
It is important to analyse a small segment before introducing the product to the entire market. This will ensure that the company has a better approach and thus reduces risks that the company can be exposed.
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