b. Market Analysis
1. Target Market
The main target markets of Bookworm Company are the student of every school here in Aklan. That every books that they looking for are in the Bookworm. The bookworm provides the most effective needs of student while they seeking their books.
We can divide our target market according to age, occupation, civil status, nationality, and gender.
The Bookworm focuses on interests of customer, their activities, and also the opinions of every customer so that were going to conduct a marketing survey for our target market. It focuses the attitudes, personality formation, and cultural touchstones.
c. Niche Markets
The bookworm company determine the target audience and find what the customer wants. The bookworm sells retail book items for the consumer.
3. Market Trends
a. Product Life cycle
We introduce our company by launch our product. We make advertising to radio and television so that the customer can know that there is an opening of book store here in Kalibo, Aklan. The bookworm company make a promotion to make consumers aware that the product is now available on the market and what its purposes. Market Growth Demand begins to accelerate and the size of the total market expands rapidly. Maturity demand is the level of Bookworm when the customer are not satisfied and they replacement and new family formation rate and finally the product goes into decline as sales fall.
b. Type of consumer goods
-Method of Sales & Distribution
When it comes in packaging the Bookworm Company use papers bags
because as of now using plastic materials is not good to our environment. Using paper bags as a material is very environmental friendly and we can reuse it. We attached our company logo and tag line into paper bags so that the costumer will know and to advertise also our products. -Pricing
- Sales Strategy
- Sales Incentive or Promotion
The Bookworm use a strategy like Sales promotion, advertising, and salesmanship because this three are the major techniques used in merchandising products to the public. In Salesmanship the company need to know the customer face-to-face so that the seller convinces the customer that the books on sale are essential to their satisfaction. The bookworms use the sales promotion strategy to persuade the consumer and customer to purchase immediately by providing special incentives such as discount items, promo sale and freebies.
- Advertising Strategy
- Public Relation