Sno used the criteria of benefits sought data, some limited demographic data such as buying behavior and occupation to determine Japan suitability as an international market for SnoVac products. However, Sno did not use the criteria of demographic data such as gender, age, and income. The effect of the success of Sno’s marketing plan on his criteria might have been positive
Sno was ready to market his products in Japan demonstrated by his identification of target markets as the dairy industry, as well as, trainers and owners of race horses. In addition, he demonstrated his readiness to market his products in Japan by identifying the marketing options in Japan. However, Sno falls short when he became reluctant to travel to Japan.
Sno’s positioning strategy was a high-price strategy.
The additional data that would have been helpful for Sno to prioritize the marketing options for the events segment include the internet usage data, age, and horse feed data.
Sno was likely to encounter language barriers in Japan.
Sno used concentrated targeting strategy since after identifying his market as horse owners, as well as, wholesale suppliers of the horse products in Middle East and Japan, he preferred Japan due to its market size and proximity to an Australian time zone and identified two target segments.
The mobile phone devices require regular charging, but chargers currently in the Chinese market have not adequately met the needs of the customers as most of them cannot be used to charge numerous types of phones. The improved universal wireless charger will meet all the needs of the customer in China due to its superior features. In essence, the charger can be used for all types of smartphones and have the higher power efficiency compared to the competitors’ products.
The potential markets for the improved universal wireless chargers are numerous since people all over the world use phones in their daily lives. According to statistica.com, the leading country in terms of mobile phones use in the world is China. It is followed by India, United States, and Brazil. For this reason, the potential overseas markets for the improved universal wireless chargers are the countries mentioned. Mobile phones have turned out to be part of human life in China due to the innovations in the global communication and connectivity. China is, thus, the most promising market for the improved universal wireless chargers.
PEST Analysis in Chinese Market
The political environment in China is stable hence the launch of the product will succeed. The Chinese government has also restructured telecommunications and issued 3G and 4G licenses, implying that the number of citizens using mobile phones will continue increasing hence the demand for the improved universal chargers will rise.
China’s economy has for a long period experienced a substantial GDP growth rate hence this implies that the consumer purchasing power has continued to rise. Thus, the introduction of improved universal wireless chargers will succeed in the Chinese market.
The literacy level in China is very high as its government emphasizes on education. In addition, the number of people using internet is quite high hence this implies that the demand for the chargers will be high.
Both the 3G and 4G technologies are already running in China. Consequently, many Chinese are using the mobile phones to access the internet and, thus, this indicates that the improved chargers will have a high demand there.
China has seven geographic market segments that differ considerably in terms of consumption patterns. They include Northwest, Central, Northeast, Southwest, East, South, and North. In addition, the Chinese consumers are segmented by the level of income, family structure, age, education, gender, and marital status. The Chinese consumers are also segmented on the basis of lifestyle factors such as social activities, sporting activities, and many others. Lastly, some Chinese, particularly the elderly individuals are brand loyal and have a habit of sticking with their preferred brand.
The target market that will be useful and relevant to the improved universal wireless chargers in China is the Psychographic Segment. It is anticipated that a large number of the Chinese consumers will greatly depend on the improved universal wireless chargers as alternative sources of power for their mobile phones. In essence, the modern lifestyle will make these consumers use their phones to access the internet including the social media sites and, as a result, they will demand the product more. The psychographic segment, which as mentioned is the target market for the product, will comprise the youths from the urban areas known to be devoted to the internet. The target market is also known to love various social media activities.
The appropriate strategy for reaching the target market will be the concentrated marketing. The company will always struggle to understand the wants and needs of the psychographic segment of the Chinese market as far as mobile chargers will be concerned.
The improved universal wireless chargers will be different from the competitors because the consumers will pay less to acquire them and use on any mobile device. In addition, the pricing strategy of the company will reflect the purchasing power of the target market.