Sample Term Paper
In this phase we need to select the segment that is accurate on five given characteristics. In order to target the market, the segment must be measurable, accessible, substantial, differentiable and actionable (Kotler, Keller 13th Ed). There are four steps involved in formulating a targeting strategy: segmentation, target marketing, positioning and planning. In target marketing, there are different characteristics that make a customer profile. Initially, the focus is on customers that are highly profitable. For the viewpoint of MarketNet these would be the students from CQU. Then we have particular members from the unit that has an access to MarketNet. But the nightmare is to reach the customers/members that are difficult to reach through internet; similarly, there are students who are difficult to reach through other media channels other than the internet (Chaffey, Dave 2008).
For Instance, Dell is targeting its customers through a geographically based system and later caters to customers’ choices and needs according to their countries. Each website of Dell in different countries has a different outlook and features. Dell US based site is using Dell premier to target IT staff in bigger companies. Being an e-retailer MarketNet should acquire a sophisticated design based on web 2.0 applications that offers a convenient and user friendly portal primarily embedded for information sharing and mentoring. Later in the paper we will discuss product development and marketing mix strategies (Chaffey, Dave 2008).
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