Marketing Research for Identifying Target Market and Sampling Frame for Commodore

This article discusses the target market alternatives for the new Commodore, ways of defining the population and sampling frame for research, and the sampling approach for the research on the Commodore. It also highlights the importance of market segmentation and population selection for companies.

MARKETING RESEARCH

Table of contents
Introduction......................................................................................................................................2
A discussion of the target market alternatives for the new Commodore.........................................2
A discussion of the alternative ways of defining the ‘Population’ for a research study on the
Commodore target market...............................................................................................................3
A discussion of the alternative ways of defining the ‘Sampling Frame’ for the research on the
Commodore.....................................................................................................................................3
A discussion of the alternative ways of defining the sampling approach for the............................4
Conclusion.......................................................................................................................................5
References........................................................................................................................................6
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Introduction
In this assessment, there will be discussion over the various way in which a company can
identify its target market know the population which they have to target in order to sell their
products in the market. In this assessment, there will be evaluations over populations which are
there to be the favourite target market of the firm. There will be a discussion on how sampling
frames are defined and how business carries out extensive research to get prominent target
market for their products. This will showcase ways approaches and strategies company choose to
decide there target market.
A discussion of the target market alternatives for the new Commodore
In accordance of Strauss and Frost, (2016) in there article E-marketing: Instructor's Review Copy
target market in Internet commerce should be effectively chosen in order to ensure whether the
online sales and purchase is affecting or attracting customers or not. It can be said that the
authors have defined that target market under the Online sector is not bound under geographic
locations as it can be viewed from anywhere and can be ordered through anywhere. This
increases the diversity of locations in which the company have to render their services. The
alternatives of the target market to Commodore are direct selling to the clients or with the
customer which have firms and dealerships. In the current scenario as the following is car dealer
there is no scope of selling products to other dealers. Hence, the only alternative left is direct
selling to customers. This means the market segmentation of the company will be a Business to
Consumer business this means that the company will directly target the end users of the products.
Cars will directly be sold to the consumer in order to make sure that they are used by them and
end products there will be no supply to dealerships in the online operation of the firm. It can be
said that the following alternatives are only available to the company and is also recommended
to use as this will be the most beneficial option for the company to perform and have direct
communications with consumer if they want to buy a car. In this way, the communications
between consumers and the company will more effective creating a direct relationship of both
the parties in a prominent way. The company will directly send the order to the company as per
their request and retrieve payment at the time of vehicle delivery. In this way, there will be a
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prominent relationship between the two parties involved in the business and will further help the
company to build an effective customer base through the online interphone and advertisements.
A discussion of the alternative ways of defining the ‘Population’ for a research
study on the Commodore target market
According to McAlexander, Koenig and DuFault, (2016) in there journal about ‘Millennials and
boomers: Increasing alumni affinity and intent to give my target market segmentation’ the term
population is defined as a unit of target market which a company targets within three operational
activities. It can be said populations is the mass of consumer which the company targets to attract
and acquire for the products which they will render to them of the following is purchased by the
consumer. In simple words, Populations can be defined as a unit of target market which is the
mass of consumer that companies target for creation of an effective consumer base in the market.
In case of Holden as it is in on an online market people who are beginners in online sales and
purchase are to be considered as the populations in the target market of the company. People
who deal and shop online are too considered as the main populations which the company will try
to market and target for promoting purchases of cars online. It can be said that populations
within target market are a group of people which belief in the same manner. For example if there
a group 10 people which prefer online purchase and sales of car they will be the population in the
target market of online automobiles companies as they will derive demand and for online
purchase and sales of cars. Population play and significant role for companies running online as
they will be the one which will buy and sell products and cars online as they believe that there is
no problem in trading on the internal platform and will further convince everyone to purchase
cars online which further increase the demand of the company’s products. Hence it can be said
that populations of a form is an important element and play an important role in the target market
for a company and there are core drivers of future consumer base which company can gain
through operating in the market. In case of Holden people buying and selling cars online should
be considered as a population for the target market of the firm for their online trade.
A discussion of the alternative ways of defining the ‘Sampling Frame’ for the
research on the Commodore
The sampling frame for the research of Commodore must be well calculated as buying of
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automobiles can be Short term aspect as well as long-term wish. To ensure that the management
of the organisation does not select sample out of the equation a proper target market is ti be
evaluated. The organisation must understand that the importance of the people being selected for
the research what is the sampling procedure must have the wish to buy an automobile. People
who will be selected may also have an automobile with them. In accordance, the problem
statement that was seen in the case study provided the way of wine automobile is changing and
direct dealership buying of automobiles have changed to online buying of the automobile.
Therefore the selected sampling frame for the research on the Commodore needs to be people
who wish to buy an automobile, people who have brought automobile already and automobile
dealers (Belgiu and Drăguţ, 2016).
A discussion of the alternative ways of defining the sampling approach for the
Research on the Commodore
In order to properly understand the impact of random sampling research on the population of
Commodore must be evaluated properly. The utilisation of random sampling falls under the
technique of Sampling which has the probability in an equal sense. The possibility of choosing
unbiasedly is highest in terms of random sampling method that clearly help in drawing
conclusions that prove to be important in the most specific position possible. To understand the
possibility of having an equal sense of operation while conducting research work researcher must
be clear about the impact that it would create on research work. Elimination of bias factor in the
individual stage is one of the importance of random sampling. For the use of research by
Commodore the random sampling method would be useful for choosing customers wishing to
buy automobiles. As suggested by Csikszentmihalyi and Larson (2014), mathematical theorems
that are generally used for survey purposes works best when random samples are utilised for
statistical procedures. When two random sampling method has utilised the explanation which
bases its existence upon the mathematical background is generally selected for the authenticity of
the research work that is presented and evaluated by the researcher (O'Mahony, 2017). The
selection of the random sampling method will be authentic in terms of the organisation when
selecting the sample size because it would help in minimising the effect of uncertainty. As
opined by Lavrenko and Croft, 2017), The utilisation of random sampling method fruits to be
useful when research sample is to be selected from a population larger in size. In the case of the
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organisation selected the population of people going after buying a new automobile is really high
and cannot be separated from the general customer. Equal probability and the objectivity to
maintain standard research subject is also properly assessed by random sampling method
(Palinkas et al. 2015). Simple and accurate work that is actually provided by random sampling
method is the basic reason which can be taken into consideration by Commodore to create their
own sample size (Zhao and Zhang, 2015).
Conclusion
Concluding in the light of the above context it can be said that the market segmentation and
population selection is an important task which every company has to consider before entering a
market segment. In case of Holden which now launched an online operation, it can be said that
firm two has to follow the aforementioned strategies and alterations to determine an effective
consumer base which will trade online with the company in an effective manner. Through this,
the company will be able to operate in a significant manner.
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References
Belgiu, M. and Drăguţ, L., 2016. Random forest in remote sensing: A review of applications and
future directions. ISPRS Journal of Photogrammetry and Remote Sensing, 114, pp.24-31.
Csikszentmihalyi, M. and Larson, R., 2014. Validity and reliability of the experience-sampling
method. In Flow and the foundations of positive psychology (pp. 35-54). Springer, Dordrecht
Lavrenko, V. and Croft, W.B., 2017, August. Relevance-based language models. In ACM SIGIR
Forum (Vol. 51, No. 2, pp. 260-267). ACM.
McAlexander, J.H., Koenig, H.F. and DuFault, B., 2016. Millennials and boomers: Increasing
alumni affinity and intent to give by target market segmentation. International Journal of
Nonprofit and Voluntary Sector Marketing, 21(2), pp.82-95.
O'Mahony, M., 2017. Sensory evaluation of food: statistical methods and procedures. Routledge.
Palinkas, L.A., Horwitz, S.M., Green, C.A., Wisdom, J.P., Duan, N. and Hoagwood, K., 2015.
Purposeful sampling for qualitative data collection and analysis in mixed method implementation
research. Administration and Policy in Mental Health and Mental Health Services Research,
42(5), pp.533-544
Strauss, J. and Frost, R.D., 2016. E-marketing: Instructor's Review Copy. Routledge.
Zhao, P. and Zhang, T., 2015, June. Stochastic optimization with importance sampling for
regularized loss minimization. In international conference on machine learning (pp. 1-9).
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