Target Market Strategy

It is nearly impossible to create a product that appeals to all facets of consumers. This comes from different wants, needs, and demands from different groups and markets within our economy. After careful consideration of a product’s market and both company and product evaluation, management must develop a marketing strategy. “The company’s marketing strategy outlines which customers the company will serve and how it will create value for these customers. Next, the marketer develops an integrated marketing program that will actually deliver the intended value to target customers. The marketing program builds customer relationships by transforming the marketing strategy into action. It consists of the firm’s marketing mix, the set of marketing tools the firm uses to implement its marketing strategy.” (page 13) These actions are witnessed with our product at hand, Crumples, targeted specifically to adults whom desire to accompany their social drinking experience with a snack to munch on. In other words, our snacks belong in the bar right along side a nice tall glass of beer. And although we intend to target this particular audience, our snacks are not limited to just this specific group. The target market is reached through a company’s marketing mix, our detailed plan of how to market to the desired group. “The set of controllable tactical marketing tools—product, price, place, and promotion—that the firm blends to produce the response it wants in the target market.” (page 53)