Target Market Strategy

"Each company must find the game plan for long-run survival and growth that makes the most sense given its specific situation, opportunities, objectives, and resources. This is the focus of the strategic planning, the process of developing and maintaining, the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities." Marketing: An Introduction/Armstrong, Kotler- pg39

When your creating a Marketing Plan, The Marketing Strategy is the largest of out of the elements. There is two sections and five segments to the Marketing Strategy, the first section is the Target Market Strategy. The second section is the Marketing Mix with includes four segments. These four segments are referred to the four P's, product, distribution, promotion, and price. I am going to the begin the Target Market Strategy.

At Phileas Fogg Snacks and Hot Caribbean Jerk Crackers our primary target market is adults from the ages of 21-64. These adults take up almost 59% of the population of Las Vegas, NV. Las Vegas currently has 594,294 residents. The locations that we will be targeting will include dive bars, local gaming bars, lounges, pool/dart halls, and pool bars/clubs. I believe the wide range of locations that we will reach will include every age group that we are targeting. The locations we aim to have our snacks in need to have an inviting environment that someone by themselves would feel comfortable at, as well as a group of people. Our snacks are meant to start the conversation, and meant to be shared among your new and old friends. The adventure listed on the package gives everyone something to talk about. You can discuss what was going through Phileas Fogg's head when he bit right into that Scotch Bonnet pepper, or his adventure could trigger a memory of your own from your own travels. And there you go, the conversation is well on its way, no awkward silences. Something this simple is what is going to keep our customers happy. When the customer is happy and enjoying themselves they will order more drinks with more snacks. Our target market is also always on the go. Some people like to stop off at their favorite water hole on their way home from work to grab a "quick" drink. This customer would love the our crackers. The crackers will hold him over until he sits down to dinner, and he doesn't have to dig into the community peanut bowl or order something off the menu that could take a lot longer than they plan on staying.

We are partnering  up with The Red Stripe Beer company to do a dual marketing campaign together and this will also help us target the beer drinking segment of the market. We will have the Red Stripe drinkers try our cracker to experience the taste Jamaica and the other beer drinkers try Red Strip because they will want to experience what Phileas Fogg did on his adventure.

We understand that our crackers will be characterized as a speciality product. "a specialty products are consumer products or services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort."Marketing: An Introduction/Armstrong, Kotler- pg211 But we feel that this is a speciality product that will never make the customer ever regret ordering our snacks. We have a specialty product that is fun and affordable.