Essay --

4.0 Market analysis 4.1 Market segmentation and target market selection Our company segment market in demographic features, geographical distribution and behavioural descriptors. By doing so, our company will have a better understanding of our target preference in the industry. This is an important step in order to succeed. First, we segment demographic characteristics in age and income. Our company segments consumers who are teenagers and working adults with middle or high income. This is because teenagers are newly trend people who keep in touch with technology very often. Besides, they are catching up with technology which is in high-tech, innovative and special. Therefore, VeeEye Sdn Bhd will have the opportunity to get into the market. On the other hand, we segment working adults with middle and high income as they have financial ability to purchase our product. Adult workers who are highly educated will get well paid job with middle or high income. Therefore, they are more willing to spend for our product compare to lower income workers as they might not afford to purchase our product. Next, we also segment our consumer in geographical distribution. Geographical area such as Kuala Lumpur and Penang Island in Malaysia will be our target market. This is because both of the states have many industries with big company. Therefore, workers there will be getting higher paid compare to other state worker. With higher salary, they have more ability to purchase our product compare to others. Besides, they will be busy and under stress during their working hours. So, they might travel more frequently during weekend or holiday. Therefore they might need a good camera all the time with them. So, we choose Kuala Lumpur and Penang instea... ...ke us easily approach to our target market’s spending behaviour and lifestyle. We have our own office for sell and repairing service. We believe that to get higher reputation from customers; we got to provide a good quality product which customers willing to pay for it and provide a good service such as customer able get free repairing service within 2 years warranted, give the full information and detail to customers and customers could get some discounts base on their order. In order to attract more customers, we have an idea launch our product on the online purchasing website such as Taobao, eBay, Zalora. Even customers from other country have a chance to make an order, we do delivery to them within the period, if more than that period, and the customer only paid us half prices of their order. This is one type of service provided by our company. Essay -- 4.0 Market analysis 4.1 Market segmentation and target market selection Our company segment market in demographic features, geographical distribution and behavioural descriptors. By doing so, our company will have a better understanding of our target preference in the industry. This is an important step in order to succeed. First, we segment demographic characteristics in age and income. Our company segments consumers who are teenagers and working adults with middle or high income. This is because teenagers are newly trend people who keep in touch with technology very often. Besides, they are catching up with technology which is in high-tech, innovative and special. Therefore, VeeEye Sdn Bhd will have the opportunity to get into the market. On the other hand, we segment working adults with middle and high income as they have financial ability to purchase our product. Adult workers who are highly educated will get well paid job with middle or high income. Therefore, they are more willing to spend for our product compare to lower income workers as they might not afford to purchase our product. Next, we also segment our consumer in geographical distribution. Geographical area such as Kuala Lumpur and Penang Island in Malaysia will be our target market. This is because both of the states have many industries with big company. Therefore, workers there will be getting higher paid compare to other state worker. With higher salary, they have more ability to purchase our product compare to others. Besides, they will be busy and under stress during their working hours. So, they might travel more frequently during weekend or holiday. Therefore they might need a good camera all the time with them. So, we choose Kuala Lumpur and Penang instea... ...ke us easily approach to our target market’s spending behaviour and lifestyle. We have our own office for sell and repairing service. We believe that to get higher reputation from customers; we got to provide a good quality product which customers willing to pay for it and provide a good service such as customer able get free repairing service within 2 years warranted, give the full information and detail to customers and customers could get some discounts base on their order. In order to attract more customers, we have an idea launch our product on the online purchasing website such as Taobao, eBay, Zalora. Even customers from other country have a chance to make an order, we do delivery to them within the period, if more than that period, and the customer only paid us half prices of their order. This is one type of service provided by our company.