Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding. 

Also, provide a graduate-level response to each of the following questions:

1. This question gives you more market sizing practice (it's a skill you'll need). Using the logic from the chapter, try to estimate the possible market for the number of pairs of football pants a manufacturer could sell in your city. Hints:  
2. Go online and find the number of high schools in your city's school districts. If you live in a large city, focus on only the largest school district.
3. Assume that 90% of those high schools have both a varsity football team (with 40 players) and a junior varsity team (35).
4. Assume also that each player gets 2 pairs of game pants (one in the dark school colors, and one in the light), and on average, 1.5 pairs of white pants for practice 

 

After having gone through the chapter 4- Targeting, I have gained a basic level of familiarity with the fundamental concepts and terms introduced in the reading. Targeting is a very essential step for the development of any business after completing the segmentation. Segmentation won't serve out to be fruitful if the organization is not using the correct targeting method to target the correct segment. 

Step-by-step explanation

After applying the correct method to segment the customers, the next step in the ladder of success for any organization is targeting and the organization should be very careful while moving with the process of targeting. This process is crucial as it will steer the organization towards its potential customers. And determining the customer family and having a long-lasting customer is important for the organization. It's like if we want to talk to everybody we won't be able to convey the message properly and we might have a hard time as no one will understand it, but if you will select specific audience to address then your message will be resonated to them clearly and manifestly.

Working for Samsung gives me immense pleasure as it is the second largest technology company covering the market of consumer electronics, home appliances, and semiconductor industry. Samsung is widely known for as largest manufacturer of mobile phones, smartphones, the most notable phone of Samsung is Galaxy series.

Strengths:

1. Samsung is well known for its new designs and innovations. It is known for its capability of producing designs that will mesmerize the consumers.
2. They have a very expeditious research and development process. Samsung believes that making the footsteps firm in the technology market the organization should try to strive for continuous innovation and for that the company should have a very strong R&D team.
3. They have a very strong manufacturing and marketing capabilities.

Weaknesses:

1. Samsung has not been able to catch up the major competitor Apple's market. The organization was unsuccessful in meeting up the standards of its competitor. Some of the consumer's still feel Apple is the better choice than Samsung.
2. Some new rivals have emerged in past few years. Chinese productions have made the smartphones affordable for every next person.

Opportunities:

1. Samsung can target the customers of growing middle class in developing world like India, Pakistan, Afghanistan, etc.
2. It can use the marketing strategies and maximize it to optimum level through online marketing and sales platforms.

Threats:

1. The market of Apple (the major competitor) is growing continuously at a very fast pace and its quality and durability is trusted globally.
2. Chinese manufacturer are also giving the organization a tough time as they are emerging at a very fast part.