Posted: October 11th, 2021
Target market | Marketing homework help
My product is vans shoes
Define ONE target market for your product using all bases of segmentation. Remember that a target market description describes the people in the target market. Product descriptions do not belong in this section. Keep in mind that you are analyzing a current target market for this product and not creating a new one. The company may have many different target markets, but you must choose only one target market.
Your Phase 1 paper should be 2 or more pages in length, 12-point font, double-spaced, APA formatted, and include the below sections with subheadings to identify each section:
- Age (provide a specific age range)
- Income (provide a specific income range)
- Family Life Cycle (provide marital and family status)
- Psychographics (All psychographic information should be written in sentence form, and not listed)
- Personality (describe at least three distinct personality traits that apply to this group of people)
- Motives (describe at least three distinct motives that apply to this group of people)
- Lifestyles (describe at least three distinct lifestyle traits that apply to this group of people)
- Benefits Segmentation (describe at least three benefits sought)
- Usage Rate Segmentation
All people in your chosen target market geography need to be able to be reached using the same marketing mix (product, price, promotion, place). If any of these aspects need to change to reach part of the defined group, your target market is too broad and must be more specifically defined.
For each section above, provide detailed information to convey an understanding of the concepts applied. Use subheadings to separate each item listed above, be specific with your analysis and provide thorough rationale. Using the Target Market Worksheet should aid students in understanding and developing each of the sections properly, but the worksheet must not be used in place of writing the Phase 1 paper. In addition to the information above, pay close attention to the rubric.
Phase 1 Formatting Details:
- Your Phase paper must include all listed sections, in the same order they are listed above.
- Use titles and subtitles to clearly identify each section.
- If one of the outline sections is not relevant to your product and should not be covered, do NOT omit it. Instead, you must include the section and provide a statement of why the topic is not relevant to your organization, providing rationale and support for why it does not apply.
- Every section above must be included and addressed.
- For each phase, a cover page and reference page is required.
- Each paper must be written in third-person (no “I” or “me” or “In my opinion” or “we” etc., instead, opting for “company and managers will” or “the organization will”).
- APA formatting is required – Times New Roman, 12-point font, 1” margins, double spacing without additional spacing, the first sentence of each paragraph indented, etc. In addition, use APA section headings.