Apple and Phinnacus Assignment Example | Topics and Well Written Essays - 500 words

Apple and Phinnacus - Assignment Example This makes the decision to name someone an extremely important step in their life. Parents have become interested in baby names ever since important Hollywood people started naming their babies strange names. This means that Korwitt’s business is not customer driven, but rather the customers are the driving force behind the industry. All Korwitt did was to observe the behavior of modern day parents and respond to a pre- existing need. Her business is reactive to market behavior rather than being proactive and introducing the idea to the market herself. 2) Korwitt’s target market is parents who feel stressed about finding the perfect names for their children. Because Korwitt’s book costs $399, only wealthy parents can afford to pay for it. There may be people from lower classes who want help in choosing a name, but they cannot afford to pay the same amount. Since most fathers are probably out working to support their families, Korwitt’s book is more for women who are stay-at-home moms. These mothers possibly already have children of their own or are about to have a child. These parents likely spend a lot of time watching daytime television talk shows, which is why Korwitt makes television appearances to appeal to these mothers. These particular parents may also be â€Å"entertainment freaks† and keep up with all the latest gossip from Hollywood. If one of their favorite celebrities names their child a strange name, then these parents are more likely to want to do the same for their children. In this case , Hollywood celebrities are doing most of the advertising for Korwitt and she only has to wait for customers to come to her. 3) Because this is a growth industry, Korwitt should worry about new market entrants that offer the same services for cheaper prices. Many new websites are cropping up all the time. This represents a danger for her business. Because only wealthy people can afford her services,