MARKETING

Marketing

Marketing

Introduction

Identifying of a product

The product which I have identified is the toothpaste whose target market is the men of age group 18 plus, who are mainly the smokers.

Change of target market

As a market analyst, I want to change my target market and want to introduce this toothpaste as the normal toothpaste for both male and female belonging to each age group.

Strategies for changing the target market

Changing the target market of an organization is generally only possible by restructuring and by promoting different products and services. Organizations can use the subsidiaries as a medium of targeting more than one. For some organizations, the target market might be the people living in the same area (Keiningham, 2009). Even local organizations also might have rooms for expansion. In order to change the target market I will follow the main strategy like identification of customer needs, identification of the competitive environment, identification of the environment and the available resources.

In order to reposition the target market, my original target market will not be suffered. As, the existing target market has used my toothpaste so they will still go for it.

Customer Loyalty to a Product/Brand

Question: Does customer loyalty improve profit?

Yes, customer loyalty improves profit. In the business world, customer loyalty has always been the most important factor. Companies use the factor of trust or loyalty as the invaluable free tool in order to increase the sale and maximize the profit. As customers are the main concerns for any company. Every company has the motive to increase its revenue or profit by increasing its customers. And the company will never have the profit until and unless the customers are loyal to its products. If customers will not be loyal to the product, they will switch to some other product which will be a negative sign for ...