Week 14 - Segmenting and Targeting Markets

What would any product be worth if there isn't anyone who is going to buy it? When creating a product, the company has to think, what people is going to buy the product and who is going to be the target market. I'm in the target market for the PlayStation 3 and will be in the target market of the PlayStation 4. For example, diapers are a target market for newborns and infants. Another example are Bras. Bras are a target market for females only. If a new product is being developed, the company should know what market that is going to be in. To be on the safe side, they should release not as much of those products because not much people would probably want it or the product is no good. One product that Sony is going to release later on in the future, that will be popular and will need to put a lot of these products out is the PlayStation 4. PlayStation 4 is going to sell quick due to the fact that PlayStation 3 is very popular and they still are selling like crazy till this day. Every single product that is made, you have to think of the gender of the person, the age, and their income. Of course, you have to think of the income. For example, Gucci ( Fashion brand ) is a expensive name clothing design. The target market for Gucci is for people who have money. A lot of music artist and actors wear Gucci because they are in the target market for it.