MKT/450 INTERNATIONAL MARKETING
University of phoenix
Oct 31, 2010
Product Market overview
Market analysis: a definition and description of prospective customers, including target markets, size and structure of the customer base, and growth prospects. What is our target market? The first step in conducting our market analysis is to define the primary, secondary, and, perhaps, tertiary target markets. Our target markets is based on segmentation characteristics within the total addressable market. The segmentation is based on:
•Demographic characteristics: specific, objective factors such as age, gender, race/ethnicity, education, occupation, and income. Italy has the fifth-highest population density in Europe - about 196 persons per square kilometer (490 per square mile). From being a country of mass-emigration, in the last twenty years, Italy has become quite a large immigrant-receiving country, with over 7.5% of the nation's population being from abroad. Even though Italy's population is climbing, it is exclusively to the influx of migrations. The nation has a relatively low fertility rate, of 1.41 children per family, while having the world's 19th highest life expectancy. Education: Rome is a nation-wide and major international centre for higher education, containing numerous academies, colleges and universities. According to the City Brands Index, Rome is considered the world's second most historically, educationally and culturally interesting and beautiful city. Our primary target market will be children and young people between the ages of 2 and 18 in stages of physical growth and development due to the nutritional and high protein value content of Peter PAN Peanut butter. •Geographic characteristics:
location-based factors : Rome,Italy
the lifestyle setting is urban because the product will be introduced in the City of Rome. •Psychographic characteristics: personality traits such as attitudes,...