Entering the Foreign Market

In: Business and Management

Submitted By justjomama65
Words 1302
Pages 6
Entering the Foreign Market

Principles of Marketing
MKT 100

November 03, 2013

My company is called Henderson’s iPhone Store. We market all the latest versions of Apple smartphones. We will be marketing the new Apple iPhone 6 and entering all foreign markets. The target market for the iPhone is teenagers, college students, business class individuals, and adults. (Apple Inc., 2013). Our specific target market for this report is a married person, approximately 36 years old, and lives in a major city. This individual has a steady job, makes a solid income of about $65K a year. This individual likes to play sports, and has a very active social life. He has high goals which include gaining the experience which will assist him in landing his dream job with an income of over $100K yearly. Consumer’s behaviors include finding convenient mobile devises that offers more efficient ways for calling, messaging, and entertaining using a single button. These consumers are looking for the latest technology to satisfy their personal and social needs. Most of these consumers are affluent, and will purchase expensive products and brands which are shown as a status symbol (Apple Inc., 2013). Identifying the target audience is an important success factor for Henderson’s iPhone Store. Market segmentation can be used in many ways to construct the framework to influence their targeting activities. Understanding the market and the factors that influence consumer buyer behavior can ensure the soon to be launched iPhone 6 will be on the buyers list. Our knowledge of this process will help us develop and distribute the products, as well as creating successful promotional activities to make sure consumers’ get the right contact at the right time.
The purpose of this paper is to detail the target market profile for the iPhone 6, key buying behaviors, organization target…...

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