The criteria for market selection must be identified along with the target market. The buyers and consumers of the good and service must be understood as well as the factors Influencing their purchasing decisions.
These factors influence the marketing strategy. Lastly, a competitive analysis must be done to understand the competitive landscape of Swifts service. Segmentation Criteria for Target Market Selection In the early stages of a search for opportunities the company would be looking for customers with needs that are not being satisfied as well as they might be.There are efferent possible types of customers with many different characteristics.
In spite of the many possible differences, there often are subgroups (segments) of consumers who are similar and could be satisfied with the same marketing mix. Thus, it is ideal to identify and understand these different subgroups-?with market segmentation (Kettle, 2009). First, data would be collected from the swift customer data base as well as information obtained through recent U. S Census.This information will be used to Identify potential customers using their geographic locations, populations, GE, Income and family size. Second, the Information would be used to break down the population into different market segments.
The breakdown would include parts such as average age of a certain area or their average income. Evaluate the information and determine which areas are worth targeting as well as the best way to reach them with ads. For example, if the target were a leisure world neighborhood (retirement community), time and resources would not be wasted on a Twitter or Faceable account.In this situation, It would be best to put out an ad In a local newspaper or post ads on a community board.
Finally, evaluate all of the above information and determine which the best area for market focus is. For example, focusing efforts in California, Nevada and Arizona for potential customers would be ideal considering how much business is done by these three states. Target Market When Identifying Swift Transportation's targeted market for tracking products there are specific factors to be considered.What makes Swift Transportations tracking product unique, and why should people be interested in this resource are factors. The most important factors to consider are ho will need or want this product. Team D will need to determine how to market the product and service at hand, by first determining who the target market is.
Swift Transportation is targeting to provide a trailer tracking service that tracks trailer identification, location, and status updates for commercial motor vehicle carriers to track efficiently and manage their assets (U. S. DOT 2012).Swift Transportation's goal The target market for Swift Transportation is anyone in need of its transportation services from servicing the California Ports to ensuring its customers get the equipment they need to the dry van that operates the nation's largest trucking fleet with the most comprehensive terminal network in the industry. "Swift Transportation's target market is to be a sole source provider for customers' transportation needs, including: dedicated, intermediate, dry Van, temperature controlled, container, flatbed, transportation management, specialty operations and much more" (FMC, 2012). Organizational Buyers and Consumers and Purchasing Decisions Organizational buyers are defined as individuals who contract Swift to haul product such as Wall- Mart, Target, Best Buy, Kohl's and so forth.
The purpose of the good and service offered is to effectively track and trace load information for effective on time delivery. In the precise track of load information the organizational buyers have the ability to assure product availability. For example, during Black Friday and in the event products could not be properly tracked, items advertised would not be available.Hence, the Wall-Mart blitz, in which products advertised would be physically at the store days prior to the sales. This would enable customers to be drawn to the store u to its dependability and reliability. The organizational buyer ensures product is available without wait minimizing distribution of rain checks.
With product availability Wall-Mart does not see a decline in projected sales enabling company growth with an increase in sales. The projected travel time for freight is three days by truck and five days by rail. The end consumer is the actual customer purchasing the product.Individuals continue to give their loyalty and dedication to stores or establishments who continue to deliver on their promises and promotions. Individuals work hard for their finances and when shopping like to devote their time and energy to stores with the product they intend to physically purchase on his or her visit.
Competitive Analysis As a trucking company dealing in shipping, the competition is vast and versatile. Not only is Swift Transportation competing against other trucking companies, they are also competing against railroads, airplanes and in some parts of the country even shipping.The primary competition is in the trucking industry but Swift transportation has the advantage due to its multipurpose fleet. For example, Swift Transportation, in cooperation with Trans-Mix and Customs Brokerage Service, offers the only true door-to-door service in the industry. This allows Swift to handle almost all shipping business across the borders of the United States and Mexico.
Among other things included in Swift Transportations fleet are container carriers. Swift Transportation has the largest truckload carriers servicing the California ports ensuring that they are the primary business handlers in the trucking industry.Other major trucking companies such as J. B Hunt, Schneider Trucking, and C.
R. England Trucking cannot accommodate to the degree that Swift transportation can which helps Swift to have a part of every area of trucking. To combat the railroad Swift transportation accommodates those needed to ship one truckload or less worth of material. Anything other than mass quantity is ship by transportation has the edge. Air freight is primarily used for things needing expedited delivery and is priced as such. Truckload shipping is cheaper and if the customer is able to wait, it's the best option.
In the parts of the country where rivers, elf's lakes or other bodies of water accommodate shipping by boat or barge may be the most practical. To adapt to this Swift Transportation has oversized accommodations for pieces of equipment that may be too larger to fit on a boat or too heavy. Swift has adapted to the industry and its competitors by being able to do what the competition cannot. * Conclusion Marketing a good or service requires many steps.
It involves doing a SCOTT Analysis of the company and deciding a marketing approach to understanding criteria and factors in market selection.
