Tuesday, February 11, 2020

Target market and branding (Bayer Aspirin case) Essay

Target market and branding (Bayer Aspirin case) - Essay Example ne and hence it is always advisable to consult the doctor before beginning the regime Target Market A target market refers to a group which a certain organization has decided to fashion its marketing campaign to address (J & V. 2012). A well established target market is the initial strategy to a marketing strategy. Target markets are usually separated by noticeable and distinguishable aspects. These aspects include geographical segmentation, psychographic segmentation, product related segmentation, and behavioral segmentation. In addition to these segmentations, market researchers are searching for methods to identify defined target groups which are smaller and better. There are four main strategies outlined by marketers for the purpose of satisfying the target market. These include undifferentiated marketing, differentiated marketing, niche marketing and concentrated marketing (J & V. 2012). The target group for Bayer Aspirin is a set of all people suffering from pain related issues of from all ages. In addition, its target group includes patients suffering or with suspected heart attack. Selecting a target market is extremely beneficial to any business as it enables the business organization to direct its products or services to those consumers with high potentials for the growth of sales, product interest and brand loyalty (J & V. 2012). First, it helps in identifying growth potential. A small group of consumers usually afford the firm with a great opportunity to increase sales. Irrespective of size, a target market usually captures those customers that are most likely to increase their sales of the organizations, products over time. Secondly, selecting a target market helps in building interests in the product. Customers in a target market always share different... Marketing plays a particularly significant role in managing a developing organization. It involves communicating the values of products or services to potential customers. Generally, marketing is the overall strategies as well as functions of promoting the products and services to the customers. In addition, marketing helps to manage customer relationships in a way that benefits the organization as well as its shareholders (JFP, 2009). Marketing, as a science assists in choosing target markets through market segmentation and market analysis. Moreover, it does that through understanding the consumer behavior and through the provision of superior consumer value. There are five leading marketing concepts which a firm can choose to carry out their business. These include the product concept, the production concept, the holistic marketing concept, the selling concept and the marketing concept.In conclusion, it is clear that marketing plays a very vital role in promoting products or services of any business organization. Bayer Aspirin needs to be marketed in order for its sales, to increase. Through marketing and identifying the target market, Bayer Aspirin can attract many customers.Branding of Bayer Aspirin has also played a tremendously significant role in increasing the sales of the organization. Images on the packets of Bayer Aspirin give customers a good impression hence attracting customers as well as building customer loyalty. Through continuous marketing and branding, the Bayer Aspirin will attract more customers in the near future

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