Market MKT

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Running Head: HEXOSKIN SMART SHIRT AND MARKET TARGETING IN THE UK 1

HEXOSKIN SMART SHIRT AND MARKET TARGETING IN THE UK 2

Module 3: Assignment One

M3A1: Final Project Proposal

BUS435: International Business

Market targeting is a vital process that can guarantee success and profitability of a product if well executed (Blythe, 2008). Under this concept, a marketer has to offer products that can meet the needs of a particular market segment that may be targeted based on demographic, cultural, behavioral, or even social status (Meyers, 2010). In this marketing approach, an organization or a potential seller of a product must ensure that there are similarities between the expectations of the consumers and the features of the product (Sanfelice, 2014). A product targeted at a particular market must reflect essential marketing variables such as the consumer consumption characteristics, price sensitiveness, and consumer decision making factors (Bongaerts & Krämer, 2014). I’m looking to launch and market the Hexoskin Smart Shirt in the UK. The product is a wearable smart device with special capabilities to detect heart activity, respiration process, and sleep. It is a product of Montreal Hexoskin Company that is located in Canada (Nowak, 2016).

Based on its features, the product will be launched and sold to the sports people in the UK. The country has many professional sports athletes as compared to Canada where it is manufactured. With the launch, sports athletes that work and live in the UK will find it easier to buy a product that will facilitate planning of their sports activities. The features of the Hexoskin smart chart can allow an athlete to monitor various health problems and plan for physical activities. The shirt will come as an important element in the life of an athlete due to its ability to monitor and keep vital health data. Also the fact that the smart shirt may be purchased by non-athletes, the primary reason for its launch in the UK is because of the existence of the required target market.

References

Blythe, J. (2008). Essentials of marketing. New York, NY: Pearson Education.

Bongaerts, R., & Krämer, A. (2014). Value-to-value-Segmentierung im Vertrieb. Marketing Review St. Gallen, 

Meyers, Y. J. (2010). Target marketing and the product: categorizing products to understand the resulting marketing communication outcome measures. Journal of Management and Marketing Research. 

Nowak. P. (2016, January, 09). The 10 hottest new tech products from CES 2016. CBC News. Retrieved from http://www.cbc.ca/news/technology/ces-2016-memorable-products- 1.3395511

Sanfelice, G. (2014). Hit with One Shot: Assessing the Drivers of Target Marketing Effectiveness. Knowledge and Process Management.