MARKETING RESEARCH AND TARGET MARKETING (Module 2) Name: Christina Hartley College: Argosy University Course: Principles of Marketing | MKT230 A01 Professor: Toi Walker Date: September 03, 2014
Executive Summary This marketing plan has been designed after a keen analysis of the market and examinations of the marketing research so as to develop products, which satisfy the market needs. The mission of the company is inspiring others through the brands offered. Secondly, the company has an objective of making a difference in the market through the creation of value centered products. The product being marketed is the Waters Bottling Company’s soft drinks. Section 2 – Market Research & Targeting (Module 2) 1. Market Research: This most commonly are social factors, personal factors, psychological factors and cultural factors. In our market research, we took into consideration the above factors and this is what we were able to discern (Management Study Guide, 2014). Social factors - humans are inherently social beings, thus; they tend to be influenced by the society around them. The social groups that they are in play a role in some of the decisions that they make. This also applies in the purchases they make. The social groups can be broken down to form family members, friends, relatives and colleagues from the work place .Since our target group in our drinking water campaign is the middle class, where working families fall, we are going to be placing our advertisements in the local dailies that are mostly favored by this group, this will help to increase the company’s presence in the market, and since our product has met and exceeded the quality standards in the market compared to those produced by the competitors , once we get referrals from one of the above social groupings we should see an increase in our sales because, it is easier for one to choose a product based on a referral by a friend, family member or a colleague. Personal factors - these are factors that deal with the individuals’ preferences, they are affected by the clients age, personality, occupation, economic status or purchasing power of the individual and the clients life style,
