Target Market Essay Example | Topics and Well Written Essays - 500 words

Target Market - Essay Example From a layman’s point of view, the governmental and institutional sectors provide good growth opportunities. However, on a broader horizon, it can be seen that world markets other than USA provide exponential growth opportunities. These regions include Pakistan, the 2nd largest consumer of CNG vehicles where government has heavily invested in the CNG infrastructure, Bangladesh and India. Due to the increased environmental awareness amongst the target market and the technological innovations which have improved the quality and efficiency of CNG buses to match the diesel buses. Moreover, the experience of Argentina and Pakistan has shown that it is tried and tested and the investment of the investors will not sink. Moreover, it would save the huge bill on fuel and is economical. The present hike in fuel prices (petrol and diesel) is another factor which is in favor of converting fleets to CNG powered vehicles. The common observation is that even though the capital investment on a CNG bus might be US $ 25000 expensive as compared to traditional diesel buses, but the savings due to fuel economy are enough to cover up this gap in as small a time frame as 1 year. Moreover, CNG, contrary to traditional belief, has been proven to be a safe and hazard proof fuel. Considering the above now is the perfect timing to enter into this sector. Considering the above statistics, it can be concluded that Asian markets are the fastest growing markets for the CNG industry. The North and South American regions together hold immense unexploited potential and growth is expected in upcoming years. Growing global markets: the greatest opportunity for CNG Buses is the dynamic growth being experienced in the CNG sector in economies like Latin America (Argentina, Brazil), Pakistan, India, Bangladesh and Thailand. Awareness in Institutional Clients: Over a period of years, the environmental awareness has been increasing. This is