Final Project: Marketing Strategy - Target Market Strategy

In designing a successful market strategy, Marketing: An Introduction believes "the marketing manager must answer two important questions: What customers will we serve (what's our target market)? and How can we serve these customers best (what's our value proposition)?" (Marketing: An Introduction, Armstrong & Kolter, Pg. 11) They must also see the marketing strategy as consisting of "specific strategies for target markets, positioning, the marketing mix, and marketing expenditure levels. “  They believe that it “outlines how the company tends to create value for target customers in order to capture value in return.” (Marketing: An Introduction, Armstrong & Kolter, Pg. 33)

For marketing the Wegner "Ibex" Laptop Computer Backpack, the first question can be answered by looking at the target demographic and psychographic.  Demographics are “the most popular bases for segmenting customer groups” and they are considered easier to measure. They are also important because “consumer needs, wants and usage rates often vary closely with demographic variables.”  (Marketing: An Introduction & Kolter, Armstrong, Pg. 33) The psychographic element looks at “different segments based on social class, lifestyle, or personality characteristics”. (Marketing: An Introduction, Armstrong & Kolter, Pg. 11) While people might be in the same demographic, they could have a completely different psychographic makeup.   

The second question could be answered by looking at the product itself. The Wegner “Ibex” laptop Computer Backpack is geared for the man on the run. He’s looking for something sturdy and reliable to carry his things. Whether its books, files, shoes or clothes, it needs to get from point A to point B without breaking. The pockets in the backpack are there to help keep his stuff organized so he can find things easier. The pouch for the laptop is made to carry 17” wide computers and is padded for its protection. It’s a great product, worthy of carrying the Wegner name.  

So in developing the marketing strategy, the answers to the two questions posed above need to be brought together. The Wegner backpack is geared towards men between the ages of 18 and 35. While factors like race, income, or location don’t have any bearing on the target group, education and employment status can be looked at since students and businessmen are the specific group that we would be targeting. They should be students or businessmen on the run who travel and need a sturdy backpack to hold and protect items they need to carry. The strategy will involve creating a page on a website that will show the consumer the features of this backpack and will also show its possible uses. An advertisement done in either After Effects or Photoshop will be the main part of the site. What better place to advertise for a laptop backpack than on the internet?

Whether it’ll be a young man going to school, or a business man travelling to meet up with a client, the Wegner “Ibex” Laptop Computer Backpack will make sure your laptop and everything else you need will get there safe.