The consumer market is ready for the Pioneer DVD Recorder. It all started whenever the CD player was introduced. After the CD came the DVD, and then finally the CD burner. This just proves that consumers are interested in the ever-fast growing technology. We live in a society that is moving right along with the technological advances. The market potential for this product is great seeing how society has turned over to recording things on disc rather than video or tape. It is just another great innovation in the technology world that makes our lives easier. Now with the Pioneer DVD Recorder, consumers are able make their lives easier by recording all of their music, movies, and home videos onto a tiny disc(pioneerelectronics).
Total Potential Market:
In deciding the potential size, I found the number of residents with a television set. There are approximately 100,000,000 households that own at least one television(Lexis-Nexis).
I feel that these people are potentially in the market for this product. Next, moving onto location, I have found that everywhere across the U.S. would fall under our potential market. Advanced technology is found throughout America, and this is why the whole U.S. is included in this category. Finally, trends must be determined when deciding your total potential market. Today, electronics and technology is growing faster than ever before. The trend in the U.S. seems to want to keep up with what is advanced in the electronic industry.
The Essay on Technology Advances
TECHNOLOGY The technology we have today would of boggled the minds of people from long, long ago. I mean people from B.C. times. When they were around their technology was being able to write, and paint of cave walls, and being able to make spears, bows, and arrows. Then around the Renaissance era (1300’s – 1600’s) we had weapons such as stronger and more efficient bows, ...
Target Market:
I feel that it would be much more successful to market this product to households that already own a VCR or a DVD player. These are the people that would be much more likely to buy this product because it would benefit them the most. Second, you must narrow the location of where you would market this product. In determining this you want to think of where this product is most widely used. While researching the Lexis-Nexis Statistical Universe, I found that people living in urban areas are much more likely to be interested in buying this product. With that information I would first market this product in cities such as New York and Los Angeles. These are both large cities that are of age when it comes to the latest technology. Lastly, you want to determine the trend in which your target market is headed. Video Cassette Recorders are becoming a thing of the past. DVD players are very hot right now and the popularity is still growing. With the DVD recorder you are able to transform all of your VHS tapes into DVD’s. This allows for a much more clear picture, and it lengthens the lifespan of whatever is recorded. So, this is a product that is very marketable right now seeing as the trend is heading right that way.
Customer Profile:
Profiling the potential customer is important to any business because it helps you find out where and to whom you will sell this product. A person that is willing to buy a DVD recorder is likely making at least $20,000 or more. While researching, I found that gender does not play a role when it comes to buying this line of electronics. Males are more likely to buy this kind of technology by not even 300,000 people(Lexis-Nexis).
In talking about age, this product would much better be marketed towards middle-aged men and women. This is just because they are much more likely to have jobs and can afford this product.
The Term Paper on High Tech Market Technology Company
Crossing the Chasm was created as a guide for marketing high tech products to a mainstream market. It is very insightful into the intricacies of the high tech market, and I believe the author possesses a very thorough knowledge of the business. Though the book is aimed toward the entrepreneur wishing to overhaul his or her marketing strategy and filled with assumptions of prior business knowledge, ...
You also want to think of the consumer geographic variable. I have found that the people living in the urban and suburban areas are much more likely to buy this product than say, someone living in the country or rural America.
Consumers are looking for something that makes their life easier so that they have less stress. They also tend to want to stay up with the fast paced technology industry. This is why the DVD recorder is perfect for this target consumer base. It makes the customers life much easier, with much less stress by converting everything to DVD.
Accessibility:
The Pioneer DVD Recorder is accessible throughout all of the United States. Several of the dealers in the United States include Sears, Best Buy, Circuit City, and Crutchfield(pioneerelectronics).
Also, Pioneer deals their products over the internet as well. Some of these sites are, onecall.com, goodguys.com, and 800.com. With this many dealers all across the United States, Pioneer has several warehouses and trucks for easy accessibility to each of its distributors.
The Pioneer DVD Recorder has a positive outlook on its way into the market. The way technology has been progressing, the DVD recorder is next in line. This products makes life easier by converting all of your movies, music and home videos onto a disc, which will make this product a successful one.
Bibliography:
2002. Statistacal Universe. [Online]. http:web.lexis-nexis.comstatuniv . .
2002. Branch Locations. [Online]. http:www.pioneerelectronics.com.
