Market Analysis For DVD Recorders
Uploaded by srheric on Apr 23, 2007
Market Analysis For DVD Recorders
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.
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...