MKT303 International Marketing: Understand The Market Segments
2) What KPIs need to be monitored for the success of failure of the display ad campaigns.
Answer:
Target Market
The target market which the company caters to are the University students and the Young Professionals who use the given bike shop services because they make use of the bike as their daily transportation purposes (Chocolatespokes.co
m. 2018).
Consumer personas
The consumer personas help in understanding the kind of customers which the customer aims to serve. The customer personas of the two different customers have been given as follows:
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Customer name 1: John | ||
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Profile summary John is a young university boy who likes adventures and wants to engage in various activities throughout his day. Often updates and services his bike. Personality: Active, passionate, energetic
Interests: John likes to go on long bike rides He is an active personality and parties regularly Uses his bike to go to and fro |
Media and brands John is highly conscious about the brand he makes use of and may like to associate with only considerable brands. |
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Age: 20 years Occupation : Second year student at the University Status: Income level: > 15000$ Location: Denver
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Motivations Gets motivated by: · Free benefits · Unique offers |
Influences: John is influenced by : · Social media trends · Peer group |
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Customer name 2: Mathews | ||
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Profile summary Mathew is a young professional who is an engineer at the office and who often uses the bike has transportation mode. Personality: Serious, responsible, no risk appetite.
Interests: Likes to go to movies, likes to spend time with the family
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Media and brands Is not brand conscious but believes in buying products which long last and gets his clothes tailored. Moreover, likes all his accessories to be well made and designed personally.
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Age: 30 years Occupation : IT Engineer at Microsoft Status: Income level: > 35000$ Location: Denver
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Motivations · Good quality · Resilience and unique aspects |
Influences Gets influenced by : · Print media advertisements · Social media advertisements · Office colleagues |
KPIs
The Key Performance Indicators can be described as the indicators for the evaluation of the performance of the success of the advertisements are as follows:
- Return on Marketing Investments: This measure helps in understanding the returns of the company as compared to the investments which they have made on their marketing activities (Chernev 2018).
- Brand awareness: The brand awareness can be defined as the level to which the customers tend to identify the brand awareness of the company (Marshall 2014). The higher level of brand awareness reflects a good marketing campaign at large.
References
Chernev, A., 2018. Strategic marketing management. Cerebellum Press.
Chocolatespokes.com., 2018. Chocolate Spokes. [Online]. Retrieved from: https://www.chocolatespokes.com/ (Accessed on: 30 Oct. 2018).
Marshall, G., 2014. Marketing management. McGraw-Hill Higher Education.
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