i have been working in payap university for one year , i like the job but i feel that my pay is very low so i think i should find extra income. i have good interest of selling products online. i was spending my time to make a decision of what sort of products i should sell online. Finally, i have made the products decision on sport shoes. which i can buy them from manufacturies.
First of all, i should have a good marketing knowledge and understanding of some marketing terms such as market Segmentation, Target Market , Market Positioning , and 4Ps Marketing Mix (Product , Price , Place , Promotion).
To start of my online business, i should be able to define my market segmentation , which i should concern demographic and behavior of my consumers then i can define my target market. After a quick marketing analysis , i feel that my target market is consumers who are between the ages of 15-35 years old and have good purchasing power. then i should develop market positioning of my products , which i think i will use low cost strategy to position my product.
Importantly, 4Ps Marketing Mix analysis is essential for my business. First , i feel that my Products should be in high quality and matches the price of the product , which i think that my sport shoes price should be around 500 bath to fit the target market and their purchasing power. Also i should place my shop online for effective distribution channels and marketing.
Lastly, i will run good Promotion by giving special discounts every month.