University of Phoenix(HCS 567) ENTREPRENEURSHIP AND MARKETING FOR A+

Document Content and Description Below

Diabetes, but the cause of it is still unknown. Managing insulin and blood sugar levels are crucial for patients with Diabetes. Complications and death can occur from uncontrolled blood sugar, so pati... ents routinely monitor their insulin and blood sugar through finger pricks and the HbA1c test. The t:slim X2 insulin pump with Control-IQ technology is made for people with Diabetes who have a history of not hitting their HbA1c targets; therefore aren’t maintaining consistent insulin levels. Importance of Selecting a Target Market Selecting a target market is crucial as it allows the company to concentrate its marketing efforts on reaching the target population instead of multiple markets, which can be costly. Selecting a target market allows the product to be differentiated from competitors. Targeting a select segment of the population allows the marketing team to focus on the benefits of the product and why it is unique and better than competitors. The second reason selecting a target market is essential is it allows the marketing team to speak directly to their audience. Marketing campaigns marketed to the general market do not receive as high of consumer ratings (Ferreira, et al., 2013). These ads also are reported to be not memorable, unrelatable, and brands unrecognizable (Ferreira, et al., 2013). [Show More]

Last updated: 1 year ago

Preview 1 out of 2 pages