Respond to the following in a minimum of 175 words:
- Select a consumer-products company belonging to the Fortune 500.
- Search the Claritas Zip Code Lookup site for a zip code of an area you are familiar with.
- Describe how the company’s key product and brand elements fit the needs of the market described.
- Evaluate the company’s ability to address this market.
Reply to at least 2 of your classmates or your faculty member. Be constructive and professional.
(will be attached)
Select a consumer-products company belonging to the Fortune 500
I have chosen Amazon.com off of the Fortune 500 list as my consumer-products company.
Search the Claritas Zip Code Lookup site for a zip code of an area you are familiar with
I picked the 92027 zip code for San Diego, California. According to the Claritas360.com website, the area has and upper midscale income group with kids and utilize the internet for gaming, reading and movie/music streaming.
Describe how the company’s key product and brand elements fit the needs of the market described. Evaluate the company’s ability to address this market
Amazon.com is a company with a large range of products and brand elements that fit this market. Amazon Prime Video allows for movies streaming and also has Amazon music subscriptions. Audible is another feature that Amazon has that has podcasts and audio books. Many books can be purchased through Amazon to read on tablets using the Amazon Kindle App downloadable to non-Kindle devices. I have personally used Amazon to purchase controllers and games for my gaming devices. In the past year, with the Covid-19 pandemic, Amazon has also become one of the easiest and safest ways to shop for everyday items that you or your family may need from clothes to food to items for your pets without having to go out to get the items you need. If you are in a location close to a Whole Foods you can also get groceries delivered using Amazon. Prime Members can usually get what they need within a day or two on most items that they want and need. Amazon has really shown its ability to address the needs for this market and is a great source for many other markets in the United States.
I chose Costco Warehouse, a fortune 500 company. They have warehouses all over the country and there is one quite near my home. I live in Inglewood, California where the new Rams (SoFi) football stadium was just built. We also have hundreds of new businesses and malls throughout the area. The homes in Inglewood are considered upper middle class with a mixture of condos, apartments as well as one and two story single family homes. Average rents for an apartment is $1500.00 and $2600.00 per month.
The area is family oriented with a mixture of families with small children and seniors who have lived in the area for years. There is a large park which provides activities for the children. There are several private schools and daycares within the area.
Costco is said to pay higher wages than other similar warehouse stores. Even though, customers must pay a price to shop there, the store is always busy. People like the fact that they are very friendly and helpful when they shop. In addition, people find shopping in bulk saves time and money.
Costco is very effective in marketing the brand throughout the community. They read the community well as they promote what seems to be the needs at the moment. For example, products for the coronavirus are always front and center. They know what the customer wants and it is not unusual to see that particular product on sale.