Coinage Kid - Defining the Target Market
Essay by Vanessa Jane Castillo • December 11, 2015 • Business Plan • 250 Words (1 Pages) • 1,056 Views
EXERCISE #4:
DEFINING THE TARGET MARKET
Statistics says that as of July 2014, the Philippines population is now 107,668,231 wherein urbanization is up to 49% and children ages from 0-14 contributes 33.7% of the total population. That is 18,493,668 male and 17,753,359 female. While according to WAVE8 studies, smartphone penetration in Philippines as of 2014 is already 82.8% and 58.2% for tablet penetration.
Our target market here in COINAGE KID are:
- Parents (including guardians)
- Teachers, Private and Public Schools
- Organization and Charities for Children
COINAGE KID targets those individuals who have a direct contribution to children’s perception to their future. Our real users here are the kids’ age from 3-14 years old where an innovative initiative is being made for them but our clients are those listed above. There is actually a growth being seen to the number of smartphone users and tablet users at present.
From a Southeast Asia Study, researchers says 98% of children in SEA use mobile devices. Over 500 Filipino parents were surveyed. 67% use their parent’s device (smartphones and tablets), 18% use shared family devices ad 14% use their own devices. Study also shows that 41% of children spent more than an hour on devices per sitting as shown in Figure 1.[pic 1]
Figure 1. Time spent by children on devices per sitting.
[pic 2]
Figure 2. Percentage of Where Children Mostly Use Devices
[pic 3]
Figure 3. Reason for Allowing Children to Use Such Devices
EXPECTATION VS. REALITY
[pic 4]
Figure 3. Parents Expectation vs. Children's Usage
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