Discussion of Population and Target Market Alternatives for Holden Commodore

This article discusses the different population and target market alternatives for the new Holden Commodore. It explores the various strategies implemented by the company to solve customer problems. The article also provides recommendations on the best target market and population definition for the company. The subject of the article is marketing and business strategy, and it is relevant to courses in marketing, business, and management.

Title: Discussion of population alternatives and target market alternatives
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Executive summary
Holden Commodore represents the fifth generation of most popular Australian vehicles.
The new commodore is an internationally developed vehicle. The planners and engineers of
Holden have deeply invested in the Commodore program from the beginning which makes it
very easy to update in a different generation (Lieven et al, 2011 pp.236-243).
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Table of Contents
Title: Discussion of population alternatives and target market alternatives.................................................1
Executive summary.....................................................................................................................................2
Alternative markets for new Commodore...................................................................................................4
PART ONE....................................................................................................................................................4
Target market alternatives..........................................................................................................................4
PART TWO...................................................................................................................................................5
Alternative ways of defining the population...............................................................................................5
References...................................................................................................................................................7
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Alternative markets for new Commodore
PART ONE
Target market alternatives
The target market is said to be the group of companies or customers that are likely to
purchase the certain organization product. Holden Commodore has a variety of alternatives of
the target market. With a wide target market, the Holden Commodore company implements
strategies geared toward solving the customers' problem (Sharma et al, 2012 pp.238-249).
The target market can be defined in various ways as described below.
Consumers/business. This kind of market starts by giving clarification on whether the
target market is business-to-business or business-to-consumer service rendered. Holden
Commodore relies on the two type of business. It sells vehicles to both individuals and also big
wholesalers who later supplies the product to the customers.
Demographic/socioeconomic target. This kind of target market alternative gives a
description of a target market demographically. This defines the target market in terms of their
gender, age, and income and education level. Holden Commodore also relies on this kind of
target market. As the organization plan for the type of vehicle in the new –next generation they
completely innovate on the factors that affect the customers demographically. For example, they
try to initiates models of a car which favors different genders.
Generation. This has been the major target market alternative which has been widely
applied in Holden Commodore Company. Type of cars developed by the organization has been
changing generation after generation (Maric et al, 2016 pp.948-955). Due to the improvement of
technology with time the organization has been forced to also innovate the technology in their
new brand cars so to meet the need of that generation.
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Life stage .The new Commodore has also been influenced by life stage type of target
market. Life stage can be described in terms of retirement, marriage status, and post-college. The
new Commodore must also put to concern the likes and dislikes of life stage of its customers
(Maric et al, 2016 pp.948-955).
The recommendable type of target market is one that deploys the concerns of the majority
of the customers. Generation appears to be the best recommendable target market the
organization should embrace as it covers a wide range of customers (Newstead et al, 2011
pp.637-645).
PART TWO
Alternative ways of defining the population
Market study research sample is obtained from a population when conducting studies of
consumer goods. The population can be defined by three major groups.
The unit. In this definition the population it involves two separate decision.One of the
decision involves what to be counted and the common units include people, consumers, and
users. The Holden Commodore widely uses this description giving a prediction on the number of
customers they expect from Australia (Rahman and Areni, 2014 pp.3-15).
The boundaries. This another method which also used in describing the population in a
market research. In general, boundaries are defined on behavior basis such as consumption of a
certain product. For example, the Holden Commodore organization may define population on the
basis of buyers who have purchased instant new Commodore product (Maric et al, 2016 pp.948-
955).
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The classic mistake. This is majorly implemented in a small population. For example,
the Holden Commodore organization may define the population in different age ranges (i.e. male
aged 25 to 30) that have used the new Commodore in the past few weeks. This helps the
organization to target the majority of the people who are in the market in terms of age
description (Soo et al, 2016 pp.10-15).
The recommendable way to define the population is by the use of a classic mistake
method. This is because the method allows the organization to subdivide the big population into
small groups. With small population groups, it becomes easy for Holden Company to effectively
participate in the market and also consider the needs of the customers.
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References
Lieven, T., Mühlmeier, S., Henkel, S. and Waller, J.F., 2011. Who will buy electric cars? An
empirical study in Germany. Transportation Research Part D: Transport and
Environment, 16(3), pp.236-243.
Maric, M., van Bronswijk, W., Pitts, K. and Lewis, S.W., 2016. Characterisation and
classification of automotive clear coats with Raman spectroscopy and chemometrics for forensic
purposes. Journal of Raman Spectroscopy, 47(8), pp.948-955.
Newstead, S.V., Keall, M.D. and Watson, L.M., 2011. Rating the overall secondary safety of
vehicles from real world crash data: The Australian and New Zealand Total Secondary Safety
Index. Accident Analysis & Prevention, 43(3), pp.637-645.
Rahman, K. and Areni, C.S., 2014. Generic, genuine, or completely new? Branding strategies to
leverage new products. Journal of Strategic Marketing, 22(1), pp.3-15.
Sharma, R., Manzie, C., Bessede, M., Brear, M.J. and Crawford, R.H., 2012. Conventional,
hybrid and electric vehicles for Australian driving conditions–Part 1: Technical and financial
analysis. Transportation Research Part C: Emerging Technologies, 25, pp.238-249.
Soo, V.K., Compston, P. and Doolan, M., 2016. Is the Australian Automotive Recycling Industry
Heading towards a Global Circular Economy?–A Case Study on Vehicle Doors. Procedia
CIRP, 48, pp.10-15.
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