Marketing Plan: Phase II
Marketing Plan: Phase II
As a continuation of Facebook’s Marketing Plan: Phase I, Phase II will begin. As Facebook grows from the new product line, Phase II will identify segmentation criteria that will impact our target market selection. Phase II will describe the organizational buyers and consumers of Facebook and factors that influence their purchasing behavior and discuss how these factors impact Facebook’s marketing strategy. Finally, this phase will analyze current competitors and define the competitive landscape for Facebook.
Facebook approaches the geographic, demographic, psychographic, and behavioral ...view middle of the document...
Behavioral and psychographic variables are covered by providing a value. A customer is able to customize his or her outfits for their everyday lives. This incorporates the social network to the consumers and their lifestyles or personalities. Facebook’s t-shirts will be able to attract the consumer with excellent customer service, convenience, and quality.
Facebook’s target market consists of a set of buyers who share common needs or characteristics that the company decides to serve (Armstrong, 2011). To determine the target market for our new t-shirt line, we will begin by reviewing current users of our website. At the end of March 2012, Facebook had over 900 million active users on our website. Although Facebook has many users, it is not realistic to assume that all consumers who use our website will be part of our target market. There are many professionals who use our website to stay connected to family and friends; however, these professionals may not see the benefit of purchasing our new t-shirts.
Facebook’s target audience is made up of males between the ages of 18-24 and females between the ages of 16-21. This is our perfect target market because consumers within these age groups are extremely active on our website. Furthermore, they are part of the demographics that find t-shirts appealing. Consumers in these age groups typically tend to be high school or college students. Students are drawn to the comfort of t-shirts as well as the low maintenance associated with t-shirts as opposed to a polo styled shirt. Consumers in our target market tend to either have limited income or no source of income beyond what is given to them by their parents. Facebook should be mindful of this when trying to determine the price for our product.
Organizational buying is the decision-making process by which formal organizations establish the need for purchased products and services. Finding the identity, evaluate and choose among alternative brands and suppliers. Organizational consumers purchase for further production, use in operating the organization, and resale to other consumers. Final (ultimate) consumers purchase for personal, family, and household use.
Organizational buying is done by directly dealing with the manufacturers. There are three constantly used buying techniques: Straight Rebuy purchasing, Modified Rebuy, and New Task Buy. Straight Rebuy purchasing is where the department has a listing of approved vendors to maintain quality and service. Modified Rebuy purchasing is where company officials are the main source of purchasing. Acquiring extra suppliers is a necessity in case of a problem that may arise. New Task Buy purchasing is where the buyer is purchasing a product for the first time.
Factors that influence organizational buyers and consumers of the Facebook website are alternatives, quality, price, after sales service, and availability. Alternatives, if by chance, a particular type of t-shirt is not in...