March 12, 2012
Marketing Plan: Phase II - AT&T
The global economic change has influenced the buying behavior of people around the world. Understanding and meeting the needs of the customer better than the competition is the most important aspect of marketing. For a company like AT&T to achieve this goal, it must first identify its target market. The best way to define the target market is through segmentation. This paper will provide in detail the researched information regarding the marketing plan as it relates to AT&T. Ideas and information consists of the segmentation criteria, target market, and the current competition. Finding out how these factors impact AT&T’s market strategy will help them gain a better understanding of what changes they need to make to appeal to the target market with the addition of their competitors. Segmentation Criteria
Market Segmentation is “…dividing a market into smaller segments with distinct needs, characteristics or behavior that might require separate marketing strategies or mixes” (Armstrong & Kotler, 2011, p. 175). Because the team is looking to gain new customers, exploring and researching new areas is a must before the team makes the final decision on the target market and the strategies. One or all of the below mentioned segments may be the target market(s).
One segment variable is demographics, which consist of age, gender, family size, and family life cycle, income, occupation, education, religion, race, generation, and nationality. Reasons why the team would include demographics into deciding a target market would be that consumer needs, wants, and usage rates vary in this segment. Needs and wants change with age; an older person may not see the service AT&T is offering as a need whereby a college student may say it is exactly what they need. Income is also a variable to consider because college students or low to...