Introduction to Marketing Analysis 2022

Running head: INTRODUCTION TO MARKETING
[TYPE THE COMPANY NAME]
Introduction to
Marketing
9/20/2019

INTRODUCTION TO MARKETING 1
Recommendations
Target Market
Market segmentation is the strategy that is used by the business to divide the mass market
into different sections or parts in order to have a clear target market. It helps business in
targeting a definable segment that can purchase the products of the business (Menzly and
Ozbas, 2010). The market is divided on the basis of four segmentation criteria that are
geographic segmentation, demographic segmentation, psychographic segmentation, and
behavioural segmentation.
Geographic Segmentation – Under this category, the company divides the market on the basis
of location, nationality, and region. Therefore, the target market for Quay is majorly the
United States and Australia where it offers its high class and branded sunglasses. This market
is being considered because the company has strongly established its roots and can expand its
product line successfully.
Demographic Segmentation – Under this category, the company can divide the market on the
basis of age, income, gender, etc. (Martin, 2011). Therefore, the target market of the
company can be women, men, kids, old age people, and people with high income, etc.
Presently the company is offering its sunglasses only for women and men and has yet not
targeted kids and old age people.
Psychographic Segmentation – Under this category, the company can divide the market on
the basis of lifestyle, activities, opinions, interest, etc. Here the company can target those who
are more concerned about the high profile lifestyle, take interest in purchasing branded
products with high quality, etc.

INTRODUCTION TO MARKETING 2
Behavioural Segmentation – Behavioural Segmentation and psychographic segment are
considered to be similar in nature but has little changes in the concept. Under this category,
the company can divide the market on the basis of decision making pattern, the behaviour of
the customer, and usage. The target market of the company is those who are brand conscious
and purchase high price products.
New Product
Considering the argument presented in the SWOT analysis, it can be noticed that the market
is offering increased opportunities for the business to expand the business and increase the
awareness among target audience about the importance of UV rays protection. The company
is recommended to not just focus on developing sunglasses but also to expand the business in
designing and creating eyesight glasses for kids and old age people as their eyes are
considered to be vulnerable to getting affected. As it is known that Quay Australia is involved
in designing branded and high quality sunglasses that protect the eyes of the user from UV
rays (Quay Australia, 2019). Therefore, it is being considered that the company can produce
high quality eyesight glasses that can protect the eyes of kids and old age people.
Marketing Mix
The marketing mix is the set of tactics and actions taken by the business to promote the
products in the market. It helps business in taking decision related to the different aspect that
can impact the decision of the target audience. The marketing mix is comprised of 4Ps that
are the product, price, place, and promotion (Richter, 2012). The recommended marketing
strategy for Quay Australia is discussed below:
Product – Product is the item that is manufactured by the business to meet the demand of the
customer. Quay Australia is involved in designing and selling high quality branded
sunglasses for men and women. But, considering the increasing competition in the market