Alternatives for Determining Sampling Frame

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1Marketing<Student ID><Student Name><University Name>
2ContentsIntroduction................................................................................................................................3Target market alternatives:.........................................................................................................3Alternatives for defining population:.........................................................................................4Alternatives for determining sampling frame:...........................................................................5Approaches for sampling:..........................................................................................................6Efficiency of approach:..............................................................................................................7Conclusion:................................................................................................................................8References..................................................................................................................................8
3IntroductionThe product under concern in this research activity is Tata Zest, the newly launched compactsedan by Tata Motors. It is imperative to observe that the product would be liable to access ofvarying target markets. This section would illustrate the possible market alternatives for TataZest alongside drawing conclusion on a final recommendation. The parent company launchedthe sedan with a striking slogan ‘Zest up your life’ and progresses with the formidablecharacteristics for establishing novel benchmarks in the sedan segment through improvisationof safety technologies (Tata Motors Limited, 2017).Target market alternatives:An observation of the target market for the product could facilitate opportunities for thecompany to determine new approaches for marketing the product. The concerns of failure ina single market segment could be addressed through preparing contingency measures toaddress other target markets. As per Agrawalla regarding the product, Tata Zest is primarilyintended for the growing middle class in urban areas (Agrawalla, 2017). The features of theautomobile are also intended to target the young working professionals that are employed inurban locations.The target market of young professionals could be addressed by the company through theunique features of the automobile as noticed in dependability, high-tech features and priceefficiency (Hair Jr & Lukas, 2014). A comprehensive reflection on the approaches for marketsegmentation would be helpful in drawing viable insights into the validity of recommendationof target market for Tata Zest. The different target market alternatives which could beobserved for the automobile could be observed in the form of varying needs of consumergroups rather than referring to the type of the car. The classification of target marketsaccording to the type of car is not favourable approach for market segmentation which can beaddressed through identifying market segments based on the needs of the consumers (Brown,2016).According to Brown, the target market for Tata Zest should be vested in the consumers thatage within the range of early twenties to early forties which account for a substantial share ofthe customers in the automobile industry. Marketing segmentation could assist Tata Motorsto access the untapped potential of the target audience of millenials and generation X (Brown,2016). Tata Motors should consider the recommendation of the target market among young
4customers owing to the market size acquired by the segment. Tata Motors also facesconsiderable risks of losing its brand image as a mass automobile manufacturer alongside theconcerns of losing core customers through emphasis on a single target market. One of the keyapproaches to address the requirements of the selected target market is through the provisionof price efficiency which could enable less affluent customers to access the product easily(Gabriel, 2015).The unique selling point of Tata Zest could also act as an opportunity for involvement in thetarget market of young customers (Gurova et al., 2017). The objectives of Tata Zest’smarketing could be identified as becoming the benchmark in advanced safety technology anddesign of the vehicle. As per Marković, Aćimović & Mijušković, the effective promotion ofthe car through its launch prior to the Bolt Hatchback could be assumed as a notableinfluence on its perception as a premium automobile. Therefore, the recommended targetmarket among millenials and generation X individuals for Tata Zest could be validated as anappropriate recommendation since they are more likely to opt for the car due to the designpreferences and price efficiency (Marković, Aćimović & Mijušković, 2016).Alternatives for defining population:The research on the possible target market alternatives for Tata Zest with specific emphasison the target market of young working professionals should also consider the implications ofdefining the population for the research. It is essential to observe the definitions of populationand its difference from sample alongside the available methods for determining populationfor a research study. As per Pandelică & Diaconu, the research would progress with theobjective of determining the feasibility of the selected target market for the newly launchedTata Zest sedan of Tata Motors (Pandelică & Diaconu, 2011).The population for a research study could be defined as the total set of elements withcommon characteristics relevant to the subject of scientific query. The research populationcould also be defined as the well-defined collection of objects or individuals that share asimilar trait or characteristic.The individuals or objects within the population are usually associated with a common trait.For example, the term government officials could be used to describe a population involvingthe similar characteristics of being members of the population alongside being officials of thegovernment (Rimple et al., 2015). The approaches for defining population for a research
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