Wednesday, November 30, 2011

Final Project -Target Market Strategy

"[Market segmenting] A group of consumers who respond in a similar way to a given set of marketing efforts." [Marketing an Introduction by Armstrong Ch.2; Pg.24]
Gem's pricing is not modest, and so our customers are not for those who look upon price as one of the first things they think about when buying a product. We've created an experience; one worth remembering, and a keepsake. Much crafting, dedication, thought, and time goes into our products, so it goes without saying we cannot hand these out for half of what they are worth. Our customers understand that their experience should be worth exactly what they are paying for - and then some (as a bonus).
"A company should target segments in which it can profitably generate the greatest customer value and sustain it over time." [Same as above]
Our product is elegance, impact, and sensations all put together into a single bottle. Memories and experiences are what make up a person; it's what helps shape who we are. They are priceless and without them the world and it's inhabitants would all be one big dull and boring place. Gem is your experience; it becomes your memory, and it's designs call to who you are - a priceless jewel. To have anything less would be beneath you, and who you are.
"[Target market] A set of buyers sharing common needs or characteristics that the company decides to serve." [Marketing an Introduction by Armstrong Ch.6; Pg.24]
Gem understands that even as a drink, its customers want the best life has to offer them, and so we do. Life goes by much quicker than we anticipate, so why not life it to its fullest? Strive for the best, live for the moment, and remember to take the time to bask in the glory of it.

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