Understanding the reasons that drive customers to purchase certain products from certain companies is an essential step towards the improvement of the firm’s performance. By analyzing the responses retrieved from 124 clients, our organization will be able to define the dents in the current promotion and marketing strategies, therefore, locating the ways of attracting new customers. Although the overall score seems quite positive, certain tendencies displaying the lack of a specific type of clients have been identified after a detailed analysis of the survey outcomes. While the organization has designed a rather good set of tools directed at teenagers and people over 50, the lack of interest in the company’s production among people aged 30–49 is quite disturbing.
As the diagram (Appendix A) shows, the distribution of the key population is far from being even; more importantly, some of the most numerous customer groups seem to overlook what the organization has to offer. The average of the purchase frequency is quite tolerable, yet the variance thereof is very high, which means that a more elaborate marketing approach needs to be undertaken in order to attract new clients and meet the demands of all denizens of the population.
Likewise, the mode of the number of purchases made by the customers in question, which equals 9 according to the calculations below (Appendix B), is far from being high. It is highly desirable that the median should reach at least 15; however, in order to attain the aforementioned goal, the firm will need to revise its marketing approach. The mode, which amounts to 13 (Appendix B), can be viewed as tolerable, yet it may also be improved considerably once the right marketing approach is chosen.
The above-mentioned data can and must be used in order to develop a new marketing strategy. According to the information retrieved from the surveys and in the course of data analysis, the company seems to have overlooked a major segment of the target population, i.e., middle-aged, middle-class citizens of the United States. Seeing that the latter make most of the state’s demographics (Blank, 2010), it would be unreasonable to dismiss the specified denizens of the U.S. population from the company’s radar; hence, an update in the marketing strategy is strongly required.
Particularly, the organization will have to consider the images and concepts that people aged 30–50 may find attractive and build the promotion campaign on these notions and visual representations of the firm. For instance, the idea of personal and professional success as the foundation for the development of commercials in question may be viewed as a solid opportunity. Additionally, the promotion process will need to be launched in the environment of modern social media. Since studies have shown that the people of the above-mentioned age spend an impressive amount of time communicating via social networks, creating a line of advertisements in the given environment seems an obvious choice to make.
Moreover, children seem to be uninspired about the company’s products as well. To target younger demographics, another set of promotion tools will need to be deployed. For instance, games based on the firm’s product or featuring the elements of the organization’s logo can be considered a legitimate solution to the problem. By creating a mascot that will appeal to the young crowd, the company will also benefit significantly.
Reference List
Blank, R. (2010). Middle class in America. Washington, DC: U. S. Department Of Commerce.