Instruction
Task 6: Target Consumer
Discuss together who your end-user is. Teams are to provide a specific and thorough consumer analysis by identifying, examining and evaluating the primary consumers your company is developing a product line for.
All claims must be substantiated with facts from your research.
Library Resources: Demographics Now, Mergent Intellect, Mintel, Global Market Information Database (Euromonitor), 20/20 Vision Forecasting (print only), VALS
Websites: census.gov, cia.gov, bls.gov
A. Demographics
Age range, gender, marital status, education level, occupation, geographic locations, annual gross or discretionary income. Include race, ethnicity & religion if relevant. All claims must be supported with facts.
Discuss any national population shifts or trends of the consumer segmen
B. Geographic’s (Note: to be edited/revised once team has completed Task 7)
Research the population which exists in the geographical areas of the primary locations (stores) of your 3 targeted retailers. Even if you chose the E-commerce sector, determine the key geographic locations your market segment populates.
Discuss if weather patterns in these geographic areas will influence your product line styling decisions (i.e. colors, fabrics, silhouettes) &/or assortment planning (how many deliveries per season)
C. Psychographics
Describe the behavior and values of this consumer market segment
Include shopping behaviors, spending patterns, retailer preferences, brand loyalties, social media site preference, political or social causes, personal values and beliefs. All claims must be supported with facts.
Describe the magazines, books, TV programs, movies or music this market segment enjoys. Consider using VALS or PRIZM lifestyle categories.
Explain how your product line will address the psychological needs &/or wants of this particular consumer market segment.