Researching the Market Assignment Example | Topics and Well Written Essays - 750 words

Researching the Market - Assignment ExampleThe product success depends on the correct identification of the fall guy commercialize and, so an awargonness campaign was useful in letting consumers know that the product exists in the market. The product was sampled to miscellaneous consumers and the feedback we collected from consumers was helpful in identifying the grade market for the new product.This segmentation divides the market of the product into groups through the year depending on the occasions that the consumer chooses to embrace. On these occasions, the consumer impart consume the product to a greater extent than the other regular times and so production of the product will have to cater for these occasions.Consumers are bound to identify the various benefits of the new product depending on its features or characteristics and use it for those benefits. We therefore, have to fasten on advantage of the benefits identified by the consumer.This means dividing the market in to different geographical regions like cities, countries, population densities and the like. This will encapable us have a larger market area and also be at a position to bust sales by catering for the individual consumer needs in the various geographical areas.According to (Reid and Bajanic, 2009) these are age, gender, level of income and the amount of education. The coffin nail market usually always has same such characteristics like the same age group and the same level of Education. It is fundamental to know the demographics of the target market because by understanding the target markets demographic we will be able to create a unique and compelling selling point and also be able to software product and present the product in a manner that will entice the target market. The demographic for the target market is likely to be a group of both male and female who are between the ages of 25 to 40 years. The target markets is also likely to have a college percentage point and earn approximately $25,000 to $35,000 per year. The target market for the novel product is most