Thursday, June 2, 2011

Target Marketing Stradegy

We of LC VODKA have established a "target market" as stated in Armstrong & Kotler's (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing chapter 6 pg 24  a target market is "A set of buyers sharing common needs or characteristics that the company decides to serve."  Our target market is  the Las Vegas Drinking populous. We decided to go with an "Concentrated (niche) marketing" stradegy. Instead of going after all thee legal drinking aged citizens our region we decided to go only after a certain portion.  A    "Concentrated (niche) marketing stradegy " is a "A market-coverage strategy in which a firm goes after a large share of one or a few segments or niches".   Our niche is thee conservative drinker who drinks to heighten fun but does not need alcohol to achieve it. We look to gain intrests in the young 21 to older 35 with an bombardment of catchy commercials and even catchier slogans such as "Liquid consummation a good time, ALL THE TIMe" and so on and so forth. Instead of disasterously flirting with bigger markets like our numerous does, we are comfortable with being a city wide name until the proper time. By continuously fine tuning our product to generally shape our much smaller markets wants and needs both more effectively for them and more profitable for us in return.                         

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