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.
- Check out Chapter 7: Target Market to learn more.
- You will use this week’s information in Assignment 2 – Question 1.
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 demographic 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.)
- Chapter 7: Target Market – page 103
- Target Market Description Examples:
- How to find your target market
- Check out the video below for an overview of how to address this discussion.
Goal: Complete Week 3 discussion by Wednesday and the comments before Friday.