Steps Undertaken to Establish the Characteristics Needs and Buying

Background of the research

Target market profiling and creation is one of the ways to help business owners communicate and identify prospective customers who offer a good chance for greater sales (Patino, Pitta & Quinones, 2012). A target market profile is the nature of people an organization wants to sell its goods and services to. Any business person should first know and understand the target market before he/she launches the marketing campaign for his/her products and target market profile can help the business person to know where to fin
d the customers for the goods and services (Lu, 2012). Most businesses produce the best products as per their knowledge without understanding what the people they are going to sell their goods to want (Redman et al., 2013). The owners of businesses do not give much attention on persons who will buy their goods or services before they start their marketing campaign (Hennart, 2012). Furthermore, they do not understand the steps to follow when identifying information which will help to profile the target market. The study has found a gap where businesses are not educated on how to conduct target market profiling. Therefore, the report herein discusses the steps followed to get information for target market profiling.

Problem statement

Most of the company CEOs and marketing managers have problems when it comes to finding information which they can use to identify and profile their target (Banyai & Glover, 2012). Some of the leaders just profile their target market based on the size of the firm and amount of capital they have, others even follow unnecessary leads to profile their target market. Corporate travellers also need profiling because they are one of the changing target markets. Therefore this study mainly concentrates on the steps to follow when ascertaining the data used to profile corporate travellers.

Aim of the study

To identify the steps followed when ascertaining information to be used to profile corporate travellers.

Research question

What are the steps followed when ascertaining information to be used to profile corporate travellers?

Significance of the study

The report is essential to business people because it outlines the steps followed when ascertaining information to be used to profile target market therefore, it can educate business owner on target market profiling.

Literature review: Steps followed to ascertain data used in Target market Profiling

The business leaders should know and understand how they can have information that they can use to profile their target market (Riefler, 2012).  There are four main steps to follow when gathering data that can be used to profile corporate travellers as the target mrket for the study. The steps include defining the target market, reaching the target market, recognize they type of customers the target market are and finally create marketing strategies for your customers (Aghdaie & Alimardani, 2015).

Defining Target Market

Defining target market is the first step to be taken when ascertains information to profile corporate travellers. When a business has clear prolife of its customers, it will have cost effective marketing activities. The business should know behaviour, psychographics, demographics, and culture of its customers.

Reaching the Target Market

A business manager must develop a plan on how he/she is going to reach his/her target market. Think about the media outlets you can use to reach your target audience. Reaching target market includes advertising, publicity and other marketing strategies. Work can be easy in this process if the business clearly defined the target market.

Identifying the type of customers for the business

Marketing managers should always think about the type of customers they are targeting, who are they? Are they new, existing, repertoire or lapsed customers?. Knowing the type of customers can help shape the massage a business owner can use during advertising or any other communication process.

Tailoring Marketing to Customers

Here the business person must ensure that the right channel has been used to communicate to the customer because he/she has already have information for the target market.

Methodology

Research methods are the tools used by a researcher to conduct the study; the methods include secondary research and primary research (Bradbury & Pluckthun, 2015). The figure below shows the model of research methodology used to conduct this study.

Secondary research is investigating the existing data about target market in the internet by reading journals or any business blog (Morgan, 2012). Secondary research was done during the study by searching the information about target market in the search engines which include Google Scholar and World Cat. The following terms were searched to aid in the study “target market, corporate travellers, and significance of target market research.” The data produced some good results which were used to fulfil the objectives of this study. However, the data were not enough thus primary research was also considered to add some important information in the study. In primary research focus groups, surveys, interviews, observations, and field trials were used to come up with data that helped to answer the research questions.  The methodologies used in the study proved helpful and assisted the research reach its objectives.

Findings

The study found out that the steps to follow when ascertaining information to profile the target market in this case the corporate travellers include defining the target market, reaching the target customers, ascertaining the nature of customers you are dealing with, and lastly draft the marketing strategies for the target customers.  Corporate travellers as target market must be researched well so that a business manager can profile them well.

Conclusion

Target market profiling is essential for businesses because it helps the firm make profit in that they know who they are selling their products to in this case the corporate travellers (Tomczak, 2018). The study has used both primary and secondary research methods to find out steps used to ascertain the data used when profiling corporate travellers target market (Michelini & Fiorentino, 2012).

References

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Banyai, M., & Glover, T. D. (2012). Evaluating research methods on travel blogs. Journal of Travel Research, 51(3), 267-277.

Bradbury, A., & Pluckthun, A. (2015). Standardize antibodies used in research: to save millions of dollars and dramatically improve reproducibility, protein-binding reagents must be defined by their sequences and produced as recombinant proteins, say Andrew Bradbury, Andreas Pluckthun and 110 co-signatories. Nature, 518(7537), 27-30.

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Michelini, L., & Fiorentino, D. (2012). New business models for creating shared value. Social Responsibility Journal, 8(4), 561-577.

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Tomczak, T. (2018). Introduction. In Strategic Marketing (pp. 1-18). Springer Gabler, Wiesbaden.