Global Marketing - Target Market (Research Paper Sample)

Marketing ResearchInsert NameInsert Institution
Introduction
Honda is a manufacturing company that has been in the marketing industry for many years. The company majors in manufacture of motorbikes, power equipment and automobiles.in addition, the company has various strategies that have turn to be of great help for the success of the enterprise. The company has skilled personnel, and it employs the use modern equipment’s and technology in its operations. Apart from being the reliable producer of the above products, Honda Corp also offers various services to its esteemed customers.
Being the large manufacturer of the power equipment’s, motorbikes and the automobiles; the company has adequate strategies that enable it to market its products properly so as not to have more obsolete goods in the warehouse. The company ensures that it employs modern marketing strategies in order to attract more customers into the enterprise and thus boosting the economic stability of the industry. The company uses online marketing, promotions, advertisement and among other marketing strategies to market its products.
From the maximum returns the company has acquired, the company has now opened many branches across the world in order to meet its customers demand at any particular time. Before opening of a new office, the company ensures that it carries out proper market research in order to identify potential number of customers as well as the competitor that they will be facing in that particular industry. For instance, Honda Corp intends to start up a branch in Albania to run some of its operations there. The company has to carry out proper research in order to identify the type of customer that is available in particular market as well as the most selling product. In addition, Honda Corp will also have to come up with proper marketing strategies in order to ensure that it informs its clients of the latest updates in the industry. However, for the new project in Albania, the company needs marketing research team needs to put the following into considerations.Target market
Albania is a country that has grown very much and has a better economy, and the company has its expectations to win more of the customers from various directions of the country. For instance, Albania is a country that majors a lot in farming. Therefore, the firm needs to come up with a mechanism to win the farmers to be its customers. The farmers in Albania contribute to more than 50% of Albania’s economy (Sontakki, 2010). Farmers can be the target consumers of the company’s products because they can use the machines from the business to prepare their firms. In addition, they can also use the vehicles from the enterprise for transportation of farm products.
Sportsmen and women in Albania are also other groups of target consumers. The company needs to produce sports motorcycle that sportsmen and women can use in sports completion. Albania is one of the countries that put most its finances in sports activities. Therefore, Honda cop will have to ensure that it accurately markets its sports cycles to catch the attention of sportsmen in the country.
Business firms, as well as production companies, can also be reliable customer of Honda Cop products in Albania. Most companies in the country have large loads to ship that need high engine machine for effective transportation. With the kind of engine from Honda Cop, the company will win most of the clients. Therefore, it is the responsibility of marketing agents to ensure that they properly market the company products so as to win customers loyalty to the company products.
The vehicles and motorcycle from the enterprise can also aid in transportation purposes. Therefore, the company stands a better chance of convincing the transportation companies to use its products for transportation purposes. In addition, institutions and government organization are also other possible clients that the enterprise needs to target to be its customers.Expected market share and market penetration rate
Honda Cop is a multinational company that has a good reputation from the general public. The new branch in Albania will have a quick penetration into the market because of the company’s quality products. Unlike other companies, Honda Cop already has reliable customers to the company’s products the globe. Therefore, being a world known company, Honda Cop has a significant m...