Week 3 Discussion

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Week 3 Discussion

“Target Market”

For this week’s discussion, please respond to the following:

  • Describe the target market for your NAB business including a description of your target market’s key demographic elements. You should also mention the geographic, lifestyle, psychographic, purchasing pattern, and buying sensitivities of your proposed target market.

Notes:

  • Check out Chapter 7: Target Market to learn more.
  • You will use this week’s information in Assignment 2 – Question 1.

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To help you get started with Week 3 Discussion

Include these in your target market description (for your non-alcoholic business):

1.Demographic Description (age and income range, gender, family size, education, occupation, etc.)

Example: A likely user for X product is a male between ages 25 and 34 who earns between $25,000 and $35,000 per year and has a four-year college degree.

2.Geographic Description: area where you would like to serve, density (urban, rural), nature of location (mall, business center, etc.), climate condition.

An example of geographic description would be: Atlanta area.

3.Lifestyle Description: where do your customer shop, what they do for leisure, what kind of clothes they were, cars they drive, etc.

4.Psychographic Description: socially responsible, trendsetter, fun-seeking, etc.

5.Purchasing pattern description: how they use the product, how many times they buy, where do they buy the product, how do they pay for it

6.Buying Sensitivities Description: What factors are important to the customer before they buy (price, quality, customer service. Packaging, etc.)

Resources

  • Chapter 7: Target Market – page 103
  • Target Market Description Examples:

http://www.ccsfmarketing.com/sample-target-market-descriptions.html

  • How to find your target market

https://www.thebalancesmb.com/how-to-find-and-sell-to-your-target-market-2947179

  • Check out the video below for an overview of how to address this discussion.

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