The target market for the magazine includes all members of the society with extra cash in there pockets. They will included parents, parents to be, singles both male and female and young people. This are the groups that are interested in issues relating to parents, this people must be between the age of 5? 50. However if they exceed the age of 50 they must have special attention to children’s affairs. It cuts across all community members. The age structure for the demand for this magazine will determine the layout.
Children will be interested in a certain section of the parent’s magazine elderly men and women of over 60years will be reading the magazine for special purposes. Either to remind themselves of there youthful times, or if they are involved of care of children. People who also are nurturing old people in in-home care or any other place will also be interested in this magazine because the care given to the old people is almost given similar to the children. Before designing this magazine I will consider the economic purchasing power of the market segments, I will wish all segments to be included in pricing.
The target market for the magazine is divided into three groups which include: – 1. Parents The magazines will have articles that educate the parents on how to bring up their children, together, with giving them tips on how to spice-up their sexual relationships, how to cook delicious and nutritious foods, and how to run their homes. This usually consists of 35% of the general population. There are couples who have been married for over 5years. 2. Parent/s to be These are either married couple or single individuals who are intending or already expecting a child.
The magazine will have articles that satisfies their needs e. g. how to deal with pregnancy issues, what to expect after delivery, tips on successful marriages etc. this consists of 30% of the general population. 3. Single individual These are people who are not married and are not expecting a child. They include both male and females. This market segment is large, hence the variety of the articles in the magazine is meant to capture them. These generally consist of 35% of the population. Though these target audiences aren’t married but in the future they are i. e. 3-10years.
Planning to have families. SWOT analysis Strengths • It will be a unique magazine in the market • Low cost of production • Will be able to produce several products at the same time • Will have exclusive lights Weaknesses • There will be licensing problems • There will be barrier to enter to the market because of regulations. Opportunities • There is an increasing target market in and outside the country • The product will be linking the changes of lifestyle of people • Will ask endorsement by a celebrity Threats • Lack of knowledge
• Economic down-turn • Competition from other companies Financial plan The current makeup of the budget averages to 17% of the funds going towards Business Management Leadership, 56% of the funds dedicated to Functional Operations Leadership, and the remaining 27% directed towards the Technology and Systems Requirement category. After establishing the brand through the business management leadership roles, the hope is to redistribute the funds from that category into advertising in order to establish a connection with the consumers.