Week_4_Discussion_Reply

Question: How would you go about analyzing your target population? What types of resources could you use? Select and identify a target population. Based on your readings, research, and personal experience, what tools (electronic and traditional) would work for your selected population and why? Keep in mind that not everyone in a target population is exactly the same.

Post 1

According to the article from Indeed, companies go about targeting their customers after a thorough target market analysis and who their demographic market is. The article mentions that this kind of analysis helps companies build strong strategies to capture the market and increase its sales. The target market is the part of the demographic that a company wants to sell its products or service to. In order to do that one needs to understand these key factors: age, gender, income, lifestyle, preferences, geographical location besides considering the market factors like market size, purchasing potential, motivations, and marketing ideas (Kaput).

As per the article from Appinio, the company’s service or product is not suitable to everyone and hence these companies analysis who their target audience is and they build their marketing strategies surrounding their audience. According to Kaput, “Companies pour a lot of money into conducting focus groups, surveys and statistical research to analyze not only who buys or will buy a product but why they buy it, where they buy it and how they can be convinced to buy more of it”. The resources that can be used are: market analysis, current trend reports, creating projections, overall market reports, knowing project lead time, potential sales, and costs (Indeed).

Based on my understanding and research, millennial and under are more on social media platforms and hence digital marketing is more suitable towards them and when it comes to people who are older than radio, news, outdoor advertisements, banners might be more suitable. On a broader perspective it depends on what the habits of each age group looks like and based on that the companies need to target them. Even gender and marital status matters a lot when marketing towards our target audience.

Post 2

A target population defines the units set for the survey, which concludes the findings of collecting the intended data to generalize and make inferences for the future. The target population is important because it set a clear direction on the scope and the set objectives or the goals of the study or research and the types of data (Eshuis et al., 2013). However, for a successful analysis of the target population, someone should consider the following factors: looking at the current environmental conditions, checking on the level of competitors, choosing a specific demographics of the set target, and considering the additional resources required collection of data.

Also, analyzing the product or the service in the environment before undertaking the target population's and data collection uses it to analyze the intended purpose. The following are the factors to consider in selecting the type of resources in conducting the target population: the time spent in the field, the data collection cost, and the response rate (Eshuis et al., 2013). However, the resources required are sample frame bias and the data processing time, such as validating, the usability tools used in the data collection, and the up-close persona.

However, on my research and finding on the patient's attendance in hospitals, the following tools will help me collect various data from the patients, doctors, and the staff. In my research and finding, a computer-assisted interviewing system will work on the finding that collected data that is save in a computer system because it will be an efficient way of determining the total target population in an easier means. Observation, checklists, records, and questionnaires are some of the traditional tools and means I will deploy to collect the hospital data (Newman & Menai, 2011). In compensation for the diversity, events volunteering, web and print materials, blogging, and internal communication are factors I will employ in the hospital for getting data.