Question

You are marketing manager for a noodle company. Your company is launching a new noodle soon called ‘Amazing Thai’. This noodle tastes delicious and uses Thai ingredient. Define the term “target market”, and suggest and discuss a potential target market for new ‘Amazing Thai” noodle.

Answer 1

Target Market - " a particular group of consumers at which a product or service is aimed". ( Dictionary meaning)

As per the dictionary meaning the term target market is very general term which is used to define the market of the product which is going to target consumer. but on otherhand consumer is very vast term and it is not necessary that in an given market all the counsumer are same.

Consumer Behaviour is very important in setting Target Market. It play key role in boost the sales and growth of the company.

Here (assuming- given company is already engaged in selling/marketing in similar type of product and having goodwill), Launching an new product is very difficult task even for already existing company, its an full time job, company have to open an dedicated department to manage the activity of the products. Every thing must be in systematic manner in order to grow.

As per the name of the Product 'Amazing Thai' its already demoting that its somthing related to Thai Products or similar to it.

The Target Market for this product may be -

1. Market where there is demand of Thai products.
2. PLace where there is more consumption of the noddles.
3. Its also depending on the price of the product, if price of this product is too high as compare to similar type of nooodles then paying capacity of the consumer shall be considerd.
4. Noddles is very popular amoung the youths, so place where youth population is more.
5. Any new place where there is less trend of noddles comsumption , it help in covering new market area and also provide expansion.
6. Places where demand is very high but such place is in remote loaction and other substitue is not avilable.