DiVito’s Italian Bakery Marketing Strategy Plan: Target Audience Report

Market research aims to blend consumer behavior and economic trends to improve and confirm a business idea. When a target audience is identified, it helps in crafting marketing campaigns, as well as understanding what services and products they can offer to the target market. Antonio and Mario will have the necessary evidence to change the marketing strategy of the organization. When the target audience is determined, it will give the research focus allowing them to develop effective marketing strategies (Becker & Jaakkola, 2020). This will allow for reduced cost of the research process since there is a better understanding of the market. Determining the target audience entails addressing the target population’s characteristics, professional details, demographics, psychographics, audience goals, buying process, and challenges the audience usually faces. In the research process, identifying the audience allows researchers to understand what the consumers need and how much they are willing to spend. According to Nunan et al. (2020), consultants can use the information on the target market to identify a niche market and develop pricing strategy, curation, marketing, and expanding opportunities; the more specific the findings, the better the marketing. The research aims to understand the importance of target market identification in a business and why there are repercussions when an organization ignores this market research process.

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         Organizations face repercussions when they begin their advertising campaign without the knowledge of the target audience. Among the problems is the inability to develop strong and authentic branding. An organization’s brand is comprised of creative elements aimed at inspiring an emotion or feeling in an audience (Dzwigol, 2020). The ability for a powerful branding is inhibited by a lack of knowledge of the audience one should engage. Thus, an organization is more likely to create an uninspiring or less attractive brand for its ideal consumers if they do not know its target audience. Additionally, the marketing message tends to be flat and uninspiring. Marketing messages must be specific to the ideal consumers, with the language and selling points inspiring their target audience. Lack of target audience knowledge makes it impossible to use persuasive language or address the pain points meaning the most to their consumers. Organizations that do not know their consumers are also unable to build lasting customer affinity and loyalty. People tend to lack a strong affinity for generic brands without personality. They commonly tend to love authentic brands with a strong point of view and character (Becker & Jaakkola, 2020). Therefore, lacking target audience knowledge limits an organization’s ability to identify with its consumers and build connections. Organizations tend to attract unfit consumers when they do not know their target audience. Such consumers tend to require extra attention and time, inability to benefit from the organization’s services and products hence being unsatisfied. Organizations are also unable to stand out from their competitors since, without developing marketing strategies that align with target consumers, their brands become generic, losing their ability to be unique in the market. An organization cannot differentiate itself if it feels and looks like a replica of other businesses. Businesses are also unable to effectively employ target advertising, including the right message and branding, to link with their consumers. It also makes it challenging to identify marketing channels, such as magazines, websites, or television (Dzwigol, 2020). Organizations are unable to improve their offerings since they do not visualize or comprehend their consumers’ experiences. According to Nunan et al. (2020), it is almost impossible to anticipate consumers’ feelings regarding an organization’s offering or even improve its services and products when organizations lack audience perspectives.

Several steps are necessary to identify the target audience. The first step is to identify the problem that requires answering, which in this case is establishing the target consumer of the organization’s products (Becker & Jaakkola, 2020). After identifying the problem, the next step involves creating a research plan or a general approach to solving the problem. The plan will include

• Step 1: Conducting secondary data ANALYSIS
• Step 2: Perform qualitative research
• Step 3: Establish methods of collecting quantitative data, which will include observation, survey, and experimentation.
• Step 4: Establish the information required
• Step 5: Determine scaling and measurement procedures
• Step 6: Design a project questionnaire
• Step 7: Sample size and sampling process
• Step 8: Data analysis planning

Following, the research will conclude with the research method to be used, which will be the quantitative research method. The research will use simple random sampling, which involves randomly selecting individuals in the population under study (Dzwigol, 2020). This gives each individual an equal chance and probability of section. This will be followed by data collection. Data collection through

• Interviews: asking individuals about their known information
• Observations: collecting data ethically without asking questions
• Documents and Records
• Literature review
• Library sources

Following, the research will entail conducting data interpretation. The step focuses on examining data to develop solutions for the research issues. The following steps will be employed:

• Step 1: Review of project’s plan
• Step 2: Organization of finding and information collected under the project.
• Step 3: Creation of a rough draft of the research findings, conclusion, and recommendation. The rough draft’s main objective is to assist in thought organization.
• Step 4: Polishing the rough draft into a final research finding. The raft draft will undergo several revisions at this stage to an efficient final finding.

Following, there will be the development of the project’s report of the findings. The step will involve presenting the information in an understandable format to ensure it can be readily used in the decision-making process. The research will also comprise an oral presentation to management using figures, tables, and graphs to enhance impact and clarity. Lastly, the research will comprise a follow-up step (Dzwigol, 2020). This step will be carried out after the research to increase the overall effectiveness of the study effort. In the project, the follow-up procedure will aim to review new developments in the market, conclude the study, and ensure that project milestones have been met. The stage can be conducted through surveys, questionnaires, and consumer feedback.

In conclusion, market research is an essential process in the market. Businesses must conduct this process to help build trust and loyalty in the market while reducing the cost of production. It also helps in limiting the targeting of an unfit audience that is almost impossible to satisfy, usually leading to increased cost of production. Effective market research involves certain stages that are necessary to produce viable results. Marketers must understand this process to limit instances of false results that can be detrimental to an organization’s sales outcome. The follow-up step is necessary to review the research results and implementation. Through this stage, the report can be updated and effective changes implemented hence better marketing evolution.

References

Becker, L., & Jaakkola, E. (2020). Customer experience: fundamental premises and implications for research. Journal of the Academy of Marketing Science, 48, 630-648.

Dzwigol, H. (2020). Innovation in marketing research: quantitative and qualitative analysis.

Nunan, D., Malhotra, N. K., & Birks, D. F. (2020). Marketing Research. Pearson UK.