Good Marketing Research Paper Example
The profile of the target market for the solar-powered camping tents is important when it comes to the distribution of the product. The target market is American youths aged between 16 years and 27 years. A majority of these people is in colleges or on first-time jobs; hence, they are eager to explore regions during holidays when they are free. In addition, some of them have young families whom they may want to share their holiday experiences. The future of the market is also encouraging given that sixty percent of the current campers participated in outdoor activities. They will be willing to pass down the same trends to their children, which will ensure a steady market for the product. The key buying behavior of the target market is that the highest purchases happen during holiday months such as December and April.
The decision motivators for the consumers emanate from the benefits derived from having a reliable and cheap source of energy during their camping events. In most cases, campers have to deal with dark nights when they camp in various sites. In addition, lacking a source of energy makes it difficult to use electrical appliances such as tablets, phones, and cameras among others. For this reason, they will be motivated to buy the product because it brings the convenience of an energy source within their camping sites. Their tents will have the comfort of home with the ability to power appliances such as refrigerators. The organizational target market was motivated by an opportunity to develop a unique experience for campers. Providing a reliable source of energy to improve the camping experience was a key motivator. An energy source was an important element limiting the extent to which they can enjoy their holiday.
Tactical Plan using the Four Ps
The four Ps of marketing encompass the place, price, product or service and promotion of the tents. As the organization considers these four marketing element, marketing the tents will go through an inevitable cycle called the product life cycle. The cycle has the introduction, growth, maturity, and decline stage. During the introduction stage, the organization must offer incentives to offer the tents at a competitive price. It will also use its online site for the sale of the tents to make them readily available to the customers. Advertisements must be regular and aggressive as part of a promotion campaign (Ryan & Jones, 2009, p.3).
As the tents move into the growth stage, the aggressive advertisements must continue because the tents will still require promotion. However, the organization must get to the maturity through using the price and place marketing mix. It will offer a 5 percent discount on every purchase made in the first week of every of month. In addition, the long-term campers will receive a higher discount (10 percent) because their tents have a slightly higher. At the maturity, the company can set up stores to add to the online marketing platform because it will have adequate savings to deal with the overhead costs.
The decline stage is the last step. Here, the sales fall because the product will have exploited most of the customers within its market (Ryan & Jones, 2009, p. 3). The organization can add an incentive to the tents sold to establish a new market domain. For instance, it can offer transport facilities to all its customers.
The position statement of the product is “Solar-powered holidays”. The stamen relates the most important detail of the tents with the reason the clients need it.
Ryan, D., & Jones, C. (2009). Understanding digital marketing: Marketing strategies for engaging the digital generation. London: Kogan Page.