Smart Watches Target Markets Analysis

User Generated

Grnfr

Business Finance

Description

Purpose of Assignment

To develop effective relationship marketing, a company must first understand its targeted consumers' buying influences and behaviors. This week's assignment is the first part of the development of a marketing plan. It provides the foundation of the marketing plan and introduces the student to a variety of diagrammatic tools for understanding a business.

Assignment Steps

To develop effective relationship marketing, a company must first understand its targeted consumers' buying influences and behaviors. In Week 2, create the Research section of your plan.

Create the research section of your marketing plan in minimum of 700 words.

Include at least 3 elements of the Research List of Topics (see list below):

Develop the first two parts of the Target Market section, which includes an overview of the demographics (age, income, family members, and birthdays) and psychographics (activities, interests, and opinions) analysis. This is not a detailed analysis but an overview (basic trends and insights from the data that is presented in annual reports and other SEC type filings).

Explain the insights you have gained from your inspection and analysis of the demographic and psychographic information you have found.

This assignment will be incorporated into your overall marketing plan for Week 6.

Format your assignment according to APA guidelines.

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Here you go

Target market outline
I.
II.

Overview
Consumer analysis

III.

Environmental scanning

IV.

Current threats

V.

Conclusion

VI.

References


Running head: TARGET MARKET

1

Target Market
Student’s name
Course name
Professor’s name
University affiliation
Date

2

TARGET MARKET
Overview

It is a norm for most companies to weigh in on their growth and development in terms of
sales by analyzing their performance data annually. Looking at financial data and sales helps a
company to know which product is performing better and the consumers who are attracted to the
product. Identifying the target market is a strategy that is done mostly to gain a competitive
advantage in business. Reports are usually produced to analyze the company's market share and the
competitors operating in the global market. The smartwatches are products that are facing a lot of
competition especially by companies that are technologically advanced like Samsung, Fitbit, Sony,
Apple, Casio, Nike, and Garmin. Its market has been projected to go over $35.7billion in 2024
while the share of the market ...


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