Brands are created for targeted customers to satisfy a niche market’s unique needs, preferences, and identities. In meeting the needs of the niche market, companies maximize the revenues drawn from the particular market. The Alienware products are examples of product brands created for highly targeted customers. The Alienware laptops and desktops are designed for the gaming target market. The gaming market is characterized by teenagers, college students, and the youth who may comprise young working professionals. The Alienware brand targets the high-income group in the gaming market, those willing to pay a high price for some good gaming experience. An example of a service brand created for highly targeted customers is the cosmetic surgical and non-surgical procedures offered by the Long Island Plastic Surgical Group. The services are targeted at individuals who care so much about aesthetics. The market is characterized by a higher proportion of females than males and individuals aged 30 to 45 (Rini et al., 2018). Plastic surgery services are mainly considered a luxury; thus, the target market comprises individuals with high annual incomes.
An example of a product brand created for widely different customers is Nike clothing and apparel. Nike’s products include foot ware and clothing made for a wide market comprising young, middle-aged and the old. Nike’s customers comprise the low-income earners, the middle income, and the high-income earners. A service brand designed for widely different customers is the insurance services provided by UnitedHealth Group Incorporated. UnitedHealth Group provides insurance plans that target diversified individuals in terms of age, gender, lifestyle, and income levels.
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This assignment informs the need to understand the target market for a product or service in order to create a brand that meets the target market’s needs and preferences. Marketing plans should also be aligned to the characteristics of the target market. Firms that can fulfill these criteria excel in their marketing strategies.
References
Rini, I. S., Krisna, M. A., Basuki, A., & Djarot, K. R. (2018). The characteristics of private plastic surgery practice in developing country: An epidemiological study. Indian Journal of Plastic Surgery , 51 (03), 309-315. https://doi.org/10.4103/ijps.ijps_11_18
