Entering the Foreign Market Essay

2057 WordsJul 25, 20149 Pages
Entering the Foreign Market Principles of Marketing MKT 100 December 9, 2013 Provide a detailed description of your company. The description should include, at a minimum, the product’s name, trademark, color, shape, packaging, labeling, and any characteristics that you deem relevant. My company is called Henderson’s iPhone Store. We market all the latest versions of Apple smartphones The purpose of this paper is to detail the target market profile for the iPhone 6, key buying behaviors, organization target markets, and decision motivators. In addition to the four P’s, I will discuss product mix, branding, and differentiating characteristics. Last, a new positioning statement and justification will be created for the new strategy. Personal factors that influence consumer buying are the consumer's age, occupation, economic status, lifestyle, personality, and self-concept (Ehow, 2013). All these factors are decision motivators for consumers; each factor is a consideration at the time of purchasing a new iPhone. The devise features the ability to satisfy consumer’s needs, and are the main motivators at the time of purchase. Social factors include family, peers, roles, and status. Psychological factors that influence consumer purchasing includes perception, motivation, learning, beliefs and attitudes (Ehow, 2013). Organizational markets are markets in which companies and individuals purchase goods for purposes other than personal consumption. The main organizational market types are producers, resellers and institutions (Ehow, 2013). The strategy for these types of organizational markets requires different approaches. The buying behaviors include those that are looking for ways to improve their processes and communication. The decision motivators for the organizational market will be the need to improve communication among the key

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