Segmentation and Target Market Paper
Segmentation and Target Market Paper
“Marketing segmentation and targeting are particular important for finding customers that are the best match for a business’s products and services” (Suttle, 2014, ¶ 2). “KnowledgeNet Enterprises LLC is an industry leader in IT and business skills training” (KnowledgeNet, 2013, ¶ 1 ). This paper will go over several aspects of the company including an overview, demographic, psychographic, geographic and behavioral characteristics. The company’s target market and how the company targets that market will also be discussed, as well as new proposed positioning statement for the company to use. Company Overview
KnowledgeNet Enterprises LLC is a business-to-business company that is now based in Tempe, AZ. The company was formed in 2005 in Aberdeen, Washington in a small two bedroom home in hopes of providing businesses with affordable and high-end training for the Information Technology staff (D. Rottner, personal communication, 2014). Today, KnowledgeNet Enterprises LLC now serves over 6,000 companies world-wide. The company’s focuses is to offer quality training that is backed by a customer service team that provides outstanding support to all of the company’s customers (KnowledgeNet, 2013). There are many different options of training available to the company’s customers that provide flexibility for the customers that have limited time to focus on training. The company offers instructor-led training live over the web so that customers get the classroom feel and interaction without having to be in the classroom. There are also recorded versions of all the live classes to provide flexibility for customers that cannot make it to the live class. KnowledgeNet Enterprises LLC also provides practice labs, exams, and full library of online books to assist with the training (KnowledgeNet, 2013). Company Market Segmentation
KnowledgeNet Enterprises LLC has a very focused demographic of customers. Since the training is primarily Information Technology training, the focus is on any and all businesses that have an Information Technology Department. Most businesses today have computer and phone networking in their offices so KnowledgeNet Enterprises LLC targets all companies. Information Technology staff in all businesses must obtain and maintain up-to-date certifications on the networking or projects that they work with (D. Rottner, personal communication, 2014). The businesses include educational facilities, government agencies, non-profit businesses, corporations, small companies, and even individuals looking for training (KnowledgeNet, 2013).
KnowledgeNet Enterprises LLC has given an added to benefit both to its customers as well as to itself by offering classes online. Competitors offer their training as an in class scenario which limits many customer from being able to leave work and attend the class. However, the online classes give the customer the opportunity to attend the classes from home, work, or any other location that has internet access. This is also a benefit for the company since it can reach customers all over the world. Currently, the company’s primary focus is Canada and the United States, but has several customers from other countries as well (D. Rottner, personal communication, 2014). The psychographics of KnowledgeNet Enterprises LLC’s customers is based on several different factors. The primary factor would be based on whether or not the customer is able to learn in an online classroom environment. One of the primary concerns for online training is that the customer does not believe that online training is very effective. “Therefore, personalizing learning, which must include making the eLearning more human, is one important way to connect with learners online” (Gutierrez, 2014, ¶ 5). The company goes over a demo with each customer to show how closely an online classroom is related to an online classroom....
References: Gutierrez, K. (Sept 11, 2014). eLearning vs Classroom Training—How Different Are They? Retrieved from http:/info.shiftelearning.com/blog/bid/354977/eLearning-vs-Classroom-Training-How-Different-Are-They
Interop. (2014). Interop. Retrieved from http://www.interop.com/newyork/
KnowledgeNet. (2013). KnowledgeNet. Retrieved from http://www.knowledgenet.com
Power, D. (Aug 1, 2013). Creating a Positioning Statement? Position the Problem, Not The Product. Retrieved from http://www.dce.harvard.edu/professional/blog/creating-positioning-statement-position-problem-not-product
Suttle, R. (2014). Define Market Segmentation & Targeting. Retrieved from http://http://smallbusiness.chron.com/define-market-segmentation-targeting-3253.html
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