3 Jul 2022

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Profiling as a Market Area Strategy

Format: APA

Academic level: Master’s

Paper type: Essay (Any Type)

Words: 526

Pages: 2

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Profiling a market area is a concept that is popular in marketing and among marketers. It mainly focuses on collecting and organizing relevant data to have comprehensive information and data about a given area, especially concerning the demographics of consumers, purchasing powers, and lifestyle of the local people. Profiling a market area is aimed at collecting in-depth and detailed data to formulate and executes strategies that can assist in meeting the specific needs of target customers while at the same time tapping on the opportunities to increase both revenues and profits. Profiling a market's area plays an essential role in determining the success of marketing and that of the organization ( Metaxas, 2005) . 

One of the main reasons why profiling a market's area is important is because it enables an organization to reach the right audience. Reaching the right audience is vital in marketing, especially concerning the drafting of an effective message that can lead to significant impact such as a massive increase in sales revenue ( Metaxas, 2005) . For instance, some products or services are used by men while women use others. Therefore, it is only through profiling of market's area that an organization can effectively and conveniently reach the right audience. Besides, profiling a market's area helps in crafting a specific message that appeals to a particular group of people, leading to effective marketing or promotional campaigns. Marketing messages are more effective when they are distinct and target the right audience ( Metaxas, 2005) . Hence, profiling a market's area is vital in reaching the right audience and crafting specific messages for a given group of people or target clients. 

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Also, profiling a market's area is cost-effective in meeting the intended objectives. It is easier to narrow on the most effective way media channel to use when organizations or marketers have in-depth information about a market's area and the target audience ( Metaxas, 2005) . As a result, the organization is not likely to waste resources on ineffective media that cannot yield the desired results. Consequently, profiling a market's area helps an organization to save money and other resources while at the same time getting better returns on investment. 

There are many sources of primary and secondary data that can effectively be used to analyze a market. First, one of the primary sources that can be used to generate secondary data is government, especially government agencies. Both federal and state agencies collect and store a massive amount of data that may be used to analyze a given market ( Castleberry, 2001) . Data collected by government agencies are always relevant to marketers because they are still accurate and contain detailed information about local consumers. Importantly, data from government agencies cover areas such as population, housing, and income. Secondly, the main source of primary data that can be used to analyze market surveys. Organizations use surveys to collect primary data from consumers and the target market. Surveys involve the use of questionnaires or interview or both to collect data from participants who can provide useful information about a given market. 

In conclusion, profiling market's area is important, and it can enable a firm to gain a competitive advantage in the market, leading to long-term and sustainable success. At the same time, it can lead to successful marketing strategies and activities. However, an organization used accurate and reliable datable to analyze a given market. Both primary and secondary data should be used to analyze a given market. 

References 

Castleberry, S. B. (2001). Using secondary data in marketing research: A project that melds web and off-web sources. Journal of Marketing Education , 23 (3), 195-203. 

Metaxas, T. (2005). Market research and target market segmentation in Place Marketing procedure: a structural analysis. Discussion Paper Series, 11(3), 47-60. 

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StudyBounty. (2023, September 15). Profiling as a Market Area Strategy.
https://studybounty.com/profiling-as-a-market-area-strategy-essay

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