By Marie Watson (Product)
SONY CORPORATION
The Company
The Sony Corporation was founded in Toyko on May 7, 1946 by two electrical engineers; Masaru Ibuka and Akio Morita. The Sony Corporation is a world known leader in the manufacturing of audio, video, communications, and information technology products. Not only is it a manufacturer, but Sony also does business in music, motion pictures, television, and computer entertainment. When the company was originally established, the company’s original name was Tokyo Tsushin Kogyo K.K. (Tokyo Telecommunications Engineering Corporation). However, in 1958 as the company started expanding its business globally, the name was changed to Sony. The Sony name was derived from the Latin word Sonus, meaning sound and the word Sonny, meaning small size. This name was chosen because it could be easily pronounced in any language.
In 1960, Sony came to the United States and established the Sony Corporation. As they began to work towards gaining market share in the entertainment industry, in 1968, Sony entered the music software business by teaming up with CBS, Inc and forming the CBS/Sony Group. In 1979 Sony entered into a joint venture with Prudential Life Insurance Co and established the Sony Prudential Life Insurance Company. In 1988, Sony acquired CBS Records and in 1989 it acquired Columbia Pictures Entertainment, Inc. Now, Sony owns quality software content and hardware.
Sony is a publicly held company and is listed on 16 stock exchanges worldwide. The company has 936 consolidated subsidiaries, employs approximately 158,500 people, and had consolidated annual sales of approximately $64 billion worldwide in 2006. Not only has the company prospered from its reliable products and services, but the Sony trademark itself is definitely a household name.
SONY SALVEO
The Product
We would like to take the Sony name, already familiar in the average household and use it to benefit the enormous amount of Americans who are becoming more and more unhealthy everyday. According to data from the National Health and Nutrition Examination Survey 2003 to 2004, about one-third of adults or 34.1% of Americans in the United States are overweight: 28.6% are women and 39.7% are men. About one-third of adults or 32.2% are obese3: 32.2% are women and 31.1% are men. Being overweight and obese increases a persons chances of getting diabetes, hypertension, stroke, high cholesterol, sleep apnea, heat disease, gallbladder disease, etc. In addition, obesity and overweightness is taking a toil on health care costs, both directly – as it relates to treatment and medications and indirectly – as it relates to time off work due to illness, not to mention premature death.
Our product, the Sony Salveo, is just what the world needs to take back control of their lives and start living a much healthier lifestyle. Derived from the ___???________ word Salveo, meaning __________________
PATHANA – THIS IS WHERE YOU NEED TO ADD THE DESCRIPTION OF THE PRODUCT AND YOUR DRAWING.
Currently there are no portable devices that gives you the sophistication of both a discrete calorie counter and an MP3 player all in one. Even though the Salveo may seem a little pricey, the product benefits are significant for our target market. The technological concept of the Sony Salveo will make it one of the hottest weight loss products of the future.
Works Cited
Sony. 2007. History. 1 May 2007.
<http://www.sony.net/SonyInfo/CorporateInfo/History/index.html>
Sony Corporation of America. February 2007. Corporate Face Sheet. 1 May 2007.
<http://www.sony.com/SCA/corporate.shtml>
3Statistics Related to Overweight & Obesity. October 2006. Prevalence Statistics Related to Overweight & Obesity. 1 May 2007. <http://win.niddk.nih.gov/publications/PDFs/stat904z.pdf>
Sunday, May 6, 2007
Friday, April 27, 2007
Place-Jen Hedgespeth
Place-
The SonySalveo will be sold at health centers and gyms. People of this target range go to the gyms in order to improve their mood, keeps their mind sharp, reduces the chance of heart disease. Other motivations include improved sleep; improve resilience and the face of stress and raises self esteem. The target market range is also known as the baby boomers. One of the top values of this target market range is health. There are approximately 27,813 fitness and recreation centers nationwide for baby boomers to visit to stay physically fit. Although the target market range is mature enough to figure out for themselves how they may choose to lose weight with the Salveo; we don’t want users to abuse the SonySalveo in a way that contributes to unhealthy eating disorders. This is why the Salveo is strictly only sold in gyms and health centers. It needs to be guided by a professional how to properly use while attaining weight loss. This will also make users of the Salveo to believe that the product is not just a fraud. According to this type of selling it pertains to direct channel selling because a producer and ultimate consumers deal directly with each other.
The SonySalveo will be sold at health centers and gyms. People of this target range go to the gyms in order to improve their mood, keeps their mind sharp, reduces the chance of heart disease. Other motivations include improved sleep; improve resilience and the face of stress and raises self esteem. The target market range is also known as the baby boomers. One of the top values of this target market range is health. There are approximately 27,813 fitness and recreation centers nationwide for baby boomers to visit to stay physically fit. Although the target market range is mature enough to figure out for themselves how they may choose to lose weight with the Salveo; we don’t want users to abuse the SonySalveo in a way that contributes to unhealthy eating disorders. This is why the Salveo is strictly only sold in gyms and health centers. It needs to be guided by a professional how to properly use while attaining weight loss. This will also make users of the Salveo to believe that the product is not just a fraud. According to this type of selling it pertains to direct channel selling because a producer and ultimate consumers deal directly with each other.
Tuesday, April 24, 2007
lifestyle and personality and price by jennifer murray
The life-style and personality of consumers for the Sony Salveo are extremely important to tune in to when marketing our product. The Sony Salveo must fit perfectly into the lives of each individual in a smart way. Our target market are those ranging in age from 35 to 55, consisting much of a group of people who are also known as baby boomers. 78.2 million is the estimated number of baby boomers as of July 1, 2005 (U.S. Census Bureau, 2006). In the 1990s, approximately 76 million people in the United States were born in the baby boom years, representing approximately 29% of the country's population. Since baby boomers make up such a sizable portion of the consuming public, their spending habits and lifestyles have a powerful influence on the economy (Answers.com). This is a wide group of people; however our product will attract those who are concerned not only for having a valuable lifestyle, but a healthy one too. According to the 2003 Census Bureau, 27,813 fitness and recreation centers nationwide exist for baby boomers to visit on a regular basis who are trying to become or stay physically fit and $2,695 was the average annual expenditures on health care in 2004 for people ages 45 to 54 (U.S. Census Bureau, 2006). This proves that this age group is focused on staying healthy to avoid any harmful injuries or illness.
Our target market was born within the years 1952 and 1972, therefore most can identify with effects from memorable events such as the Vietnam War, the Civil Rights Movement, and the Watergate scandal. Such events can attest to the characteristics of this generation as being experimental, free spirited, social cause oriented, less optimistic, distrust of government, general cynicism, and believing in individualism (Answers.com). The projected future for this target market’s wants and needs is security, diversity, and success. The Sony Salveo is a new product that designed for them with these distinctive characteristics in mind.
Price
The Sony Salveo will use cost base method to derive its prices. They will add a 65% profit margin to the cost of the product to gain efficient revenue. Price and quality interactions – - In this way, price creates perception of quality. - High price attract an image of quality - This will allow Sony Salveo to increase its market share
Works Cited
Answers Corporation. (2007). Baby Boomer. Retrieved April 2007, from http://www.answers.com/
Kerin, A., Roger, Hartley, W., Steven, Berkowitz, N. Eric, & Rudelius, William. (2006). Marketing. New York, NY.
U.S. Census Bureau. (2006, January 3). Oldest Baby Boomers Turn 60!. Retrieved April 2007, from http://www.census.gov/
Our target market was born within the years 1952 and 1972, therefore most can identify with effects from memorable events such as the Vietnam War, the Civil Rights Movement, and the Watergate scandal. Such events can attest to the characteristics of this generation as being experimental, free spirited, social cause oriented, less optimistic, distrust of government, general cynicism, and believing in individualism (Answers.com). The projected future for this target market’s wants and needs is security, diversity, and success. The Sony Salveo is a new product that designed for them with these distinctive characteristics in mind.
Price
The Sony Salveo will use cost base method to derive its prices. They will add a 65% profit margin to the cost of the product to gain efficient revenue. Price and quality interactions – - In this way, price creates perception of quality. - High price attract an image of quality - This will allow Sony Salveo to increase its market share
Works Cited
Answers Corporation. (2007). Baby Boomer. Retrieved April 2007, from http://www.answers.com/
Kerin, A., Roger, Hartley, W., Steven, Berkowitz, N. Eric, & Rudelius, William. (2006). Marketing. New York, NY.
U.S. Census Bureau. (2006, January 3). Oldest Baby Boomers Turn 60!. Retrieved April 2007, from http://www.census.gov/
Monday, April 23, 2007
Target Market Psychographics By: Jen Hedgespeth
Target Market Psychographics
Jen Hedgespeth
In order to promote a product such as the SonySalveo you must conduct research into your target market to gain a better understanding of the psychographic aspects of your product. If you don’t know what the attitudes, motivations and values of your target market are then you have no way of promoting your product correctly to enhance the company’s profit. If your product is not enhanced than it is taken off the market. That is why I conducted research into the motivations, self concept, values and attitudes, life, money, and finally social class of 35-55 year olds. Our products main purpose is to count calories. However it is also used as a devise to listen to while working out at the gym. You will want to take your Salveo with you wherever you go. Since the Salveo is such a device that is useful to health conscious people we decided to promote our product at gyms and health centers. That is why I researched and got into the heads of 35-55 year olds who go to gyms and health centers.
What are the motivations of 35-55 year olds who go to gyms? One motivation may be to improve your mood. According to a website called mayoclinic, research shows that it may take at least 30 minutes of exercise a day for at least three to five days a week to significantly improve symptoms of depression. The Salveo will keep you going as you exercise. Another motivation among 35-55 age range is that it keeps the mind sharp. People in this age range especially want to be concerned with staying healthy. According to the National Institutes of Health the most inactive individuals are 2.5 times more likely to develop dementia than regular exercisers. Exercising also reduces your chances of heart disease. It suggests not viewing exercise as weight loss but the key to a healthy lifestyle. Although part of the SoneySalveos duty is to induce in weight loss it is important that users don’t abuse it and try to get as slim as possible. Its purpose is to promote a healthy weight. Other motivations may include improved sleep, improves resilience in the face of stress and raises self-esteem. These are all reasons why the SonySalveo should be promoted at the gym
The next topic researched of the target market is the self concept of what the target market is. According to American Attitudes in 2002 the majority of respondents (46.1%) in a survey rated their health status as good. The next highest was excellent then fair with 17.4% (General Social Surveys, National Opinion Research Center, University of Chicago) The book states that one factor that explains the stability of the American population is the rising educational level. The better educated the better his or her reported health. We want all education levels to be healthy so the SonySalveo is more geared to people with all educational backgrounds. The less educated may be more inspired to get into shape with our product. Another important aspect of a persons self concept is their general happiness. In a survey in the book American Attitudes, Americans have remained stable over the past thirty years. It is important that the users of SonySalveo remain happy because if they are depressed they are in no mood to motivate themselves to spend money for our product and go to the gym. However the healthy people who are avoiding depression are the ones who will be putting the product to great use. In a survey in 2002 30.3% of adults rated themselves very happy. The majority rated themselves as pretty happy (57.2%). Only a low 12.4% rated themselves not very happy.
Another important aspect of psychographics is the values and attitudes of the users of SonySalveo. According to the American Attitudes book the number of people who agree “most people can be trusted” has declined. In 1972, 46 percent of Americans agreed that “most people can be trusted as opposed to only 34 percent in 2002. Similarly there has been an upward trend believing that “most people would try to take advantage of you if given the chance (American Attitudes 56). In 1972 only 34% believed this and increased to 40% by 2002. It is important that people using the product are not misled into thinking they are getting ripped off. People at this target market range value family, health and their work life the most.
Another aspect mentioned is the Life of the users of the SonySalveo. Outside of work what do people of this age range do? A lot of the time you can find them socializing with family. According to American Attitudes 55 percent majority socialize with relatives at least several times a month (110). In another book titled American Generations people of this age range spend about 2,519 dollars on average on entertainment. This says to some degree people of this category life is spent on fees and admissions, television, radio, sound equipment, and other entertainment supplies, and services. Also a lot participate in church and few participate in a political party, club, or association. Only about 9.8% have participated more than twice.
The next aspect of psychographics is money. In the American Attitudes book only 29.9% of people were satisfied with their income. The biggest category was more or less satisfied where 41.4% of people fall into. While most people are satisfied with their income it appears in another survey that 49.7% of people are very satisfied with the work that they do. Only 3.8% were very dissatisfied. In another book titled The Baby Boom: Americans Born 1946 to 1964 it shows that the median income of people between the age of 35-54 falls between 42,409 to 59,845 a year.
Finally the last aspect of psychographics is the social class of people in this age range. People in this age category have a good degree of power because they have already been through a lot of their life and are looked up to by younger individuals. For instance in The baby boom: Americans Born 1946 to 1964 it states that among married couples aged 35 to 54, 63 percent have children under age 18 at home, with most having one or two children living with them. Therefore they are looked up upon by the younger age. Also most have been through work experiences and have worked their way up to the highest they will go in a company by this age. They are probably the most confident of the age groups.
Works Cited
Russell Cheryl. The Baby Boom Americans Born 1946 to 1964. Copyright 2004. Ithaca, New York Printed in the United States of America.
The editors of the New Strategist Publications. American Generations: Who they are and how they live. Copyright 2005. Ithaca, New York Printed in the United States of America.
The editors of the New Strategist Publications. American Attitudes: What Americans Think about the Issues that shapes their lives. Copyright 2005. Printed in the United States
Jen Hedgespeth
In order to promote a product such as the SonySalveo you must conduct research into your target market to gain a better understanding of the psychographic aspects of your product. If you don’t know what the attitudes, motivations and values of your target market are then you have no way of promoting your product correctly to enhance the company’s profit. If your product is not enhanced than it is taken off the market. That is why I conducted research into the motivations, self concept, values and attitudes, life, money, and finally social class of 35-55 year olds. Our products main purpose is to count calories. However it is also used as a devise to listen to while working out at the gym. You will want to take your Salveo with you wherever you go. Since the Salveo is such a device that is useful to health conscious people we decided to promote our product at gyms and health centers. That is why I researched and got into the heads of 35-55 year olds who go to gyms and health centers.
What are the motivations of 35-55 year olds who go to gyms? One motivation may be to improve your mood. According to a website called mayoclinic, research shows that it may take at least 30 minutes of exercise a day for at least three to five days a week to significantly improve symptoms of depression. The Salveo will keep you going as you exercise. Another motivation among 35-55 age range is that it keeps the mind sharp. People in this age range especially want to be concerned with staying healthy. According to the National Institutes of Health the most inactive individuals are 2.5 times more likely to develop dementia than regular exercisers. Exercising also reduces your chances of heart disease. It suggests not viewing exercise as weight loss but the key to a healthy lifestyle. Although part of the SoneySalveos duty is to induce in weight loss it is important that users don’t abuse it and try to get as slim as possible. Its purpose is to promote a healthy weight. Other motivations may include improved sleep, improves resilience in the face of stress and raises self-esteem. These are all reasons why the SonySalveo should be promoted at the gym
The next topic researched of the target market is the self concept of what the target market is. According to American Attitudes in 2002 the majority of respondents (46.1%) in a survey rated their health status as good. The next highest was excellent then fair with 17.4% (General Social Surveys, National Opinion Research Center, University of Chicago) The book states that one factor that explains the stability of the American population is the rising educational level. The better educated the better his or her reported health. We want all education levels to be healthy so the SonySalveo is more geared to people with all educational backgrounds. The less educated may be more inspired to get into shape with our product. Another important aspect of a persons self concept is their general happiness. In a survey in the book American Attitudes, Americans have remained stable over the past thirty years. It is important that the users of SonySalveo remain happy because if they are depressed they are in no mood to motivate themselves to spend money for our product and go to the gym. However the healthy people who are avoiding depression are the ones who will be putting the product to great use. In a survey in 2002 30.3% of adults rated themselves very happy. The majority rated themselves as pretty happy (57.2%). Only a low 12.4% rated themselves not very happy.
Another important aspect of psychographics is the values and attitudes of the users of SonySalveo. According to the American Attitudes book the number of people who agree “most people can be trusted” has declined. In 1972, 46 percent of Americans agreed that “most people can be trusted as opposed to only 34 percent in 2002. Similarly there has been an upward trend believing that “most people would try to take advantage of you if given the chance (American Attitudes 56). In 1972 only 34% believed this and increased to 40% by 2002. It is important that people using the product are not misled into thinking they are getting ripped off. People at this target market range value family, health and their work life the most.
Another aspect mentioned is the Life of the users of the SonySalveo. Outside of work what do people of this age range do? A lot of the time you can find them socializing with family. According to American Attitudes 55 percent majority socialize with relatives at least several times a month (110). In another book titled American Generations people of this age range spend about 2,519 dollars on average on entertainment. This says to some degree people of this category life is spent on fees and admissions, television, radio, sound equipment, and other entertainment supplies, and services. Also a lot participate in church and few participate in a political party, club, or association. Only about 9.8% have participated more than twice.
The next aspect of psychographics is money. In the American Attitudes book only 29.9% of people were satisfied with their income. The biggest category was more or less satisfied where 41.4% of people fall into. While most people are satisfied with their income it appears in another survey that 49.7% of people are very satisfied with the work that they do. Only 3.8% were very dissatisfied. In another book titled The Baby Boom: Americans Born 1946 to 1964 it shows that the median income of people between the age of 35-54 falls between 42,409 to 59,845 a year.
Finally the last aspect of psychographics is the social class of people in this age range. People in this age category have a good degree of power because they have already been through a lot of their life and are looked up to by younger individuals. For instance in The baby boom: Americans Born 1946 to 1964 it states that among married couples aged 35 to 54, 63 percent have children under age 18 at home, with most having one or two children living with them. Therefore they are looked up upon by the younger age. Also most have been through work experiences and have worked their way up to the highest they will go in a company by this age. They are probably the most confident of the age groups.
Works Cited
Russell Cheryl. The Baby Boom Americans Born 1946 to 1964. Copyright 2004. Ithaca, New York Printed in the United States of America.
The editors of the New Strategist Publications. American Generations: Who they are and how they live. Copyright 2005. Ithaca, New York Printed in the United States of America.
The editors of the New Strategist Publications. American Attitudes: What Americans Think about the Issues that shapes their lives. Copyright 2005. Printed in the United States
Sunday, April 22, 2007
Psychographics section
Target Market Psychographics
Jen Hedgespeth
In order to promote a product such as the SonySalveo you must conduct research into your target market to gain a better understanding of the psychographic aspects of your product. If you don’t know what the attitudes, motivations and values of your target market are then you have no way of promoting your product correctly to enhance the company’s profit. If your product is not enhanced than it is taken off the market. That is why I conducted research into the motivations, self concept, values and attitudes, life, money, and finally social class of 35-55 year olds. Our products main purpose is to count calories. However it is also used as a devise to listen to while working out at the gym. You will want to take your Salveo with you wherever you go. Since the Salveo is such a device that is useful to health conscious people we decided to promote our product at gyms and health centers. That is why I researched and got into the heads of 35-55 year olds who go to gyms and health centers.
What are the motivations of 35-55 year olds who go to gyms? One motivation may be to improve your mood. According to a website called mayoclinic, research shows that it may take at least 30 minutes of exercise a day for at least three to five days a week to significantly improve symptoms of depression. The Salveo will keep you going as you exercise. Another motivation among 35-55 age range is that it keeps the mind sharp. People in this age range especially want to be concerned with staying healthy. According to the National Institutes of Health the most inactive individuals are 2.5 times more likely to develop dementia than regular exercisers. Exercising also reduces your chances of heart disease. It suggests not viewing exercise as weight loss but the key to a healthy lifestyle. Although part of the SoneySalveos duty is to induce in weight loss it is important that users don’t abuse it and try to get as slim as possible. Its purpose is to promote a healthy weight. Other motivations may include improved sleep, improves resilience in the face of stress and raises self-esteem. These are all reasons why the SonySalveo should be promoted at the gym
The next topic researched of the target market is the self concept of what the target market is. According to American Attitudes in 2002 the majority of respondents (46.1%) in a survey rated their health status as good. The next highest was excellent then fair with 17.4% (General Social Surveys, National Opinion Research Center, University of Chicago) The book states that one factor that explains the stability of the American population is the rising educational level. The better educated the better his or her reported health. We want all education levels to be healthy so the SonySalveo is more geared to people with all educational backgrounds. The less educated may be more inspired to get into shape with our product. Another important aspect of a persons self concept is their general happiness. In a survey in the book American Attitudes, Americans have remained stable over the past thirty years. It is important that the users of SonySalveo remain happy because if they are depressed they are in no mood to motivate themselves to spend money for our product and go to the gym. However the healthy people who are avoiding depression are the ones who will be putting the product to great use. In a survey in 2002 30.3% of adults rated themselves very happy. The majority rated themselves as pretty happy (57.2%). Only a low 12.4% rated themselves not very happy.
Another important aspect of psychographics is the values and attitudes of the users of SonySalveo. According to the American Attitudes book the number of people who agree “most people can be trusted” has declined. In 1972, 46 percent of Americans agreed that “most people can be trusted as opposed to only 34 percent in 2002. Similarly there has been an upward trend believing that “most people would try to take advantage of you if given the chance (American Attitudes 56). In 1972 only 34% believed this and increased to 40% by 2002. It is important that people using the product are not misled into thinking they are getting ripped off. People at this target market range value family, health and their work life the most.
Another aspect mentioned is the Life of the users of the SonySalveo. Outside of work what do people of this age range do? A lot of the time you can find them socializing with family. According to American Attitudes 55 percent majority socialize with relatives at least several times a month (110). In another book titled American Generations people of this age range spend about 2,519 dollars on average on entertainment. This says to some degree people of this category life is spent on fees and admissions, television, radio, sound equipment, and other entertainment supplies, and services. Also a lot participate in church and few participate in a political party, club, or association. Only about 9.8% have participated more than twice.
The next aspect of psychographics is money. In the American Attitudes book only 29.9% of people were satisfied with their income. The biggest category was more or less satisfied where 41.4% of people fall into. While most people are satisfied with their income it appears in another survey that 49.7% of people are very satisfied with the work that they do. Only 3.8% were very dissatisfied. In another book titled The Baby Boom: Americans Born 1946 to 1964 it shows that the median income of people between the age of 35-54 falls between 42,409 to 59,845 a year.
Finally the last aspect of psychographics is the social class of people in this age range. People in this age category have a good degree of power because they have already been through a lot of their life and are looked up to by younger individuals. For instance in The baby boom: Americans Born 1946 to 1964 it states that among married couples aged 35 to 54, 63 percent have children under age 18 at home, with most having one or two children living with them. Therefore they are looked up upon by the younger age. Also most have been through work experiences and have worked their way up to the highest they will go in a company by this age. They are probably the most confident of the age groups.
Works Cited
Russell Cheryl. The Baby Boom Americans Born 1946 to 1964. Copyright 2004. Ithaca, New York Printed in the United States of America.
The editors of the New Strategist Publications. American Generations: Who they are and how they live. Copyright 2005. Ithaca, New York Printed in the United States of America.
The editors of the New Strategist Publications. American Attitudes: What Americans Think about the Issues that shapes their lives. Copyright 2005. Printed in the United States
Jen Hedgespeth
In order to promote a product such as the SonySalveo you must conduct research into your target market to gain a better understanding of the psychographic aspects of your product. If you don’t know what the attitudes, motivations and values of your target market are then you have no way of promoting your product correctly to enhance the company’s profit. If your product is not enhanced than it is taken off the market. That is why I conducted research into the motivations, self concept, values and attitudes, life, money, and finally social class of 35-55 year olds. Our products main purpose is to count calories. However it is also used as a devise to listen to while working out at the gym. You will want to take your Salveo with you wherever you go. Since the Salveo is such a device that is useful to health conscious people we decided to promote our product at gyms and health centers. That is why I researched and got into the heads of 35-55 year olds who go to gyms and health centers.
What are the motivations of 35-55 year olds who go to gyms? One motivation may be to improve your mood. According to a website called mayoclinic, research shows that it may take at least 30 minutes of exercise a day for at least three to five days a week to significantly improve symptoms of depression. The Salveo will keep you going as you exercise. Another motivation among 35-55 age range is that it keeps the mind sharp. People in this age range especially want to be concerned with staying healthy. According to the National Institutes of Health the most inactive individuals are 2.5 times more likely to develop dementia than regular exercisers. Exercising also reduces your chances of heart disease. It suggests not viewing exercise as weight loss but the key to a healthy lifestyle. Although part of the SoneySalveos duty is to induce in weight loss it is important that users don’t abuse it and try to get as slim as possible. Its purpose is to promote a healthy weight. Other motivations may include improved sleep, improves resilience in the face of stress and raises self-esteem. These are all reasons why the SonySalveo should be promoted at the gym
The next topic researched of the target market is the self concept of what the target market is. According to American Attitudes in 2002 the majority of respondents (46.1%) in a survey rated their health status as good. The next highest was excellent then fair with 17.4% (General Social Surveys, National Opinion Research Center, University of Chicago) The book states that one factor that explains the stability of the American population is the rising educational level. The better educated the better his or her reported health. We want all education levels to be healthy so the SonySalveo is more geared to people with all educational backgrounds. The less educated may be more inspired to get into shape with our product. Another important aspect of a persons self concept is their general happiness. In a survey in the book American Attitudes, Americans have remained stable over the past thirty years. It is important that the users of SonySalveo remain happy because if they are depressed they are in no mood to motivate themselves to spend money for our product and go to the gym. However the healthy people who are avoiding depression are the ones who will be putting the product to great use. In a survey in 2002 30.3% of adults rated themselves very happy. The majority rated themselves as pretty happy (57.2%). Only a low 12.4% rated themselves not very happy.
Another important aspect of psychographics is the values and attitudes of the users of SonySalveo. According to the American Attitudes book the number of people who agree “most people can be trusted” has declined. In 1972, 46 percent of Americans agreed that “most people can be trusted as opposed to only 34 percent in 2002. Similarly there has been an upward trend believing that “most people would try to take advantage of you if given the chance (American Attitudes 56). In 1972 only 34% believed this and increased to 40% by 2002. It is important that people using the product are not misled into thinking they are getting ripped off. People at this target market range value family, health and their work life the most.
Another aspect mentioned is the Life of the users of the SonySalveo. Outside of work what do people of this age range do? A lot of the time you can find them socializing with family. According to American Attitudes 55 percent majority socialize with relatives at least several times a month (110). In another book titled American Generations people of this age range spend about 2,519 dollars on average on entertainment. This says to some degree people of this category life is spent on fees and admissions, television, radio, sound equipment, and other entertainment supplies, and services. Also a lot participate in church and few participate in a political party, club, or association. Only about 9.8% have participated more than twice.
The next aspect of psychographics is money. In the American Attitudes book only 29.9% of people were satisfied with their income. The biggest category was more or less satisfied where 41.4% of people fall into. While most people are satisfied with their income it appears in another survey that 49.7% of people are very satisfied with the work that they do. Only 3.8% were very dissatisfied. In another book titled The Baby Boom: Americans Born 1946 to 1964 it shows that the median income of people between the age of 35-54 falls between 42,409 to 59,845 a year.
Finally the last aspect of psychographics is the social class of people in this age range. People in this age category have a good degree of power because they have already been through a lot of their life and are looked up to by younger individuals. For instance in The baby boom: Americans Born 1946 to 1964 it states that among married couples aged 35 to 54, 63 percent have children under age 18 at home, with most having one or two children living with them. Therefore they are looked up upon by the younger age. Also most have been through work experiences and have worked their way up to the highest they will go in a company by this age. They are probably the most confident of the age groups.
Works Cited
Russell Cheryl. The Baby Boom Americans Born 1946 to 1964. Copyright 2004. Ithaca, New York Printed in the United States of America.
The editors of the New Strategist Publications. American Generations: Who they are and how they live. Copyright 2005. Ithaca, New York Printed in the United States of America.
The editors of the New Strategist Publications. American Attitudes: What Americans Think about the Issues that shapes their lives. Copyright 2005. Printed in the United States
Tuesday, April 17, 2007
Pathana Inthavong
Marketing Plan Sony Salveo
- Age 35-44
- Geographics Boston, San Francisco, NY, Philadelphia, DC
- Education College, College Plus
- Race White, Asian
- Occupation Professional & related occupations, management, business, finance
- Living Area Urban, surburban
- Income 75,000 + (gym), 150,000 + (mp3)
- Advertising Internet ( CNet), magazine (Shape), product launch party, free 2 week gym membership w/ purchase
- Price 65-100 USD
- Citations
Media Market Research 2005 Physical Fitness
Media Market Research 2005 Mp3 Players - Benefits: Health, ease of use
- Possible slogan: A new kind of workout
Sunday, April 15, 2007
target market behavior by marie a. watson
SONY SALVEO – TARGET MARKET BEHAVIOR
By: Marie A. Watson
Researching target market behavior is essential to customizing a marketing plan that will captivate our most profitable consumers. Product related behavior helps us determine the benefits that the consumers expect to achieve from our product. It also helps us determine the rate in which consumers will use our product. Our product, the Sony Salveo is a product geared toward the 35 – 55 age group. We need to determine such aspects of these individual’s lives, such as, how they spend their time; what they do in their spare time; who are they spending their extra time with; where do they shop and for what particular product; and what do they like to eat and where. Our product will be successful if we can satisfy our customer’s needs. Once we have gained that customer, we must continuously analyze the customer life cycle to retain them - by all means necessary.
According to the Bureau of Labor Statistics’1 July 27, 2006 release, the average working American spends 7.6 hours per day sleeping, 3.0 hours doing leisure and sports, such as exercise, 9.1 hours working, .9 hours doing household activities, and 3.4 hours per day is spent doing other things such as, eating, drinking, shopping, caring for kids in the household, etc. Of course, while more women are doing the household choirs and helping the kids, more men are engaging in sports activities and exercise programs.
According to the Demand for Message Therapy 2000 Survey, one leisure activity that has really doubled in the past 10 years is message therapy. Message therapy has increased to 18%, double what it was in 1997. The rate of adults ages 35-44 now engaging in message therapy is 25%. The number of adults age 44-54 has increased to 22%2. There is a substantial opportunity to capture the market share of those individuals 35-55 who undergo message therapy. Imagine listening to some soft music on your Sony Salveo while getting a full body message.
Now that we have captured “how they spend their time”, we now focus on “who” do the people in our target market spend their time with. It appears, on average, most individuals in this target market spend the majority of their time at work. Therefore, they would spend most of their time with co-workers. Even consumers over the age of 50 are remaining in the work force or going back into the workforce after retirement. Companies realize that workers over the age of 50 are a great source for a lot of specialization3. Their remaining time is spent with their children (if married), families, and friends.
Page 2
Our target market is not afraid of spending. They shop for personal care products and services, reading material, education, tobacco products and smoking supplies, food, alcoholic beverages, housing needs (furniture, equipment...), apparel, transportation, personal insurance and pensions, cash contributions, healthcare, and entertainment. According to a U.S. Bureau of Labor Statistics report4, consumers age 35-44 have an average yearly income of $72,699. They spend an average of $2272 per year in Healthcare expenses and another $2765 per year in Entertainment expenses. That is approximately 7% of their income before taxes. Consumers age 45-54 have an average yearly income of $75,266 and they spend an average of $2672 per year in Healthcare expenses and another $3034 per year in Entertainment expenses. For this group, this equates to 7.5% of their yearly income. Consumers in these two groups spend an average of $4000 per year on food for home, and another $3100 per year on food away from home.
This brings us to our next category; eating habits. According to the NPD Group5, despite increasing demands on time, 66% of dinners are still prepared at home. Eating dinner meals in restaurants or ordering take-out accounts for only 14%. 4% of the population miss dinner altogether, while 3% has their meals prepared by guest. 13% of the population doesn’t know. Even though 66% are preparing dinners at home, fewer dinners are homemade. Fewer dinners consist of fresh foods and side dishes being served.
So, as you can see, behavior is an essential part of the research and development stage of our product. We want to make sure that we develop a product that closely fits into the lifestyle and budget of our target market in order for our product to be profitable.
Work Citations:
1 Bureau of Labor Statistics. 27 July 2006. American Time Use
Survey. 11 April 2007
<www.bls.gov/news.release/atus.nr0.htm>
2 American Massage Therapy Association. 20 July 2000.
2000 Massage Therapy Consumer Survey Fact
Sheet. 11 April 2007. <http://www.amtamassage.org/infocenter/2000survey.html>
3 Third Age. 2007. Money & Work - Over 50s Now In
Demand. 11 April 2007. <www.thirdage.com/news/articles>
4 Bureau of Labor Statistics, Report 998, February 2007, pp-10
5 The NPD Group’s 16th Annual Report on Eating Patterns in America, 2001
By: Marie A. Watson
Researching target market behavior is essential to customizing a marketing plan that will captivate our most profitable consumers. Product related behavior helps us determine the benefits that the consumers expect to achieve from our product. It also helps us determine the rate in which consumers will use our product. Our product, the Sony Salveo is a product geared toward the 35 – 55 age group. We need to determine such aspects of these individual’s lives, such as, how they spend their time; what they do in their spare time; who are they spending their extra time with; where do they shop and for what particular product; and what do they like to eat and where. Our product will be successful if we can satisfy our customer’s needs. Once we have gained that customer, we must continuously analyze the customer life cycle to retain them - by all means necessary.
According to the Bureau of Labor Statistics’1 July 27, 2006 release, the average working American spends 7.6 hours per day sleeping, 3.0 hours doing leisure and sports, such as exercise, 9.1 hours working, .9 hours doing household activities, and 3.4 hours per day is spent doing other things such as, eating, drinking, shopping, caring for kids in the household, etc. Of course, while more women are doing the household choirs and helping the kids, more men are engaging in sports activities and exercise programs.
According to the Demand for Message Therapy 2000 Survey, one leisure activity that has really doubled in the past 10 years is message therapy. Message therapy has increased to 18%, double what it was in 1997. The rate of adults ages 35-44 now engaging in message therapy is 25%. The number of adults age 44-54 has increased to 22%2. There is a substantial opportunity to capture the market share of those individuals 35-55 who undergo message therapy. Imagine listening to some soft music on your Sony Salveo while getting a full body message.
Now that we have captured “how they spend their time”, we now focus on “who” do the people in our target market spend their time with. It appears, on average, most individuals in this target market spend the majority of their time at work. Therefore, they would spend most of their time with co-workers. Even consumers over the age of 50 are remaining in the work force or going back into the workforce after retirement. Companies realize that workers over the age of 50 are a great source for a lot of specialization3. Their remaining time is spent with their children (if married), families, and friends.
Page 2
Our target market is not afraid of spending. They shop for personal care products and services, reading material, education, tobacco products and smoking supplies, food, alcoholic beverages, housing needs (furniture, equipment...), apparel, transportation, personal insurance and pensions, cash contributions, healthcare, and entertainment. According to a U.S. Bureau of Labor Statistics report4, consumers age 35-44 have an average yearly income of $72,699. They spend an average of $2272 per year in Healthcare expenses and another $2765 per year in Entertainment expenses. That is approximately 7% of their income before taxes. Consumers age 45-54 have an average yearly income of $75,266 and they spend an average of $2672 per year in Healthcare expenses and another $3034 per year in Entertainment expenses. For this group, this equates to 7.5% of their yearly income. Consumers in these two groups spend an average of $4000 per year on food for home, and another $3100 per year on food away from home.
This brings us to our next category; eating habits. According to the NPD Group5, despite increasing demands on time, 66% of dinners are still prepared at home. Eating dinner meals in restaurants or ordering take-out accounts for only 14%. 4% of the population miss dinner altogether, while 3% has their meals prepared by guest. 13% of the population doesn’t know. Even though 66% are preparing dinners at home, fewer dinners are homemade. Fewer dinners consist of fresh foods and side dishes being served.
So, as you can see, behavior is an essential part of the research and development stage of our product. We want to make sure that we develop a product that closely fits into the lifestyle and budget of our target market in order for our product to be profitable.
Work Citations:
1 Bureau of Labor Statistics. 27 July 2006. American Time Use
Survey. 11 April 2007
<www.bls.gov/news.release/atus.nr0.htm>
2 American Massage Therapy Association. 20 July 2000.
2000 Massage Therapy Consumer Survey Fact
Sheet. 11 April 2007. <http://www.amtamassage.org/infocenter/2000survey.html>
3 Third Age. 2007. Money & Work - Over 50s Now In
Demand. 11 April 2007. <www.thirdage.com/news/articles>
4 Bureau of Labor Statistics, Report 998, February 2007, pp-10
5 The NPD Group’s 16th Annual Report on Eating Patterns in America, 2001
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