Target Market Based On Demographic, Psychographic, And Behavioural Segmentation

It is desirable to develop demographic and psychographic profiles of these likely consumers (the target audience).

Segmentation and Target Market PaperJonathan GraceMKT/571October 21, 2014Dr. Johnny MorrisSegmentation and Target Market PaperThis plan was put into in 1936, establishing the Government Employees Insurance Company, the company known and respected today as GEICO. GEICO was primarily directed toward federal employees and certain groups of enlisted military officers. Lillian Goodwin actively marketed the company to this group of consumers and within a year, GEICO had written over 3,700 policy holders and employed 12 staff members.

The potential consumer target markets fall into two categories; the segments will be referred to as “Suburban Select” and “Young & Active”.

The Gap Inc. is a global specialty retailer that operates stores selling casual apparel and accessories for men, women, and children (Yahoo Market Guide, 2001). Under the Gap, are the Old Navy and Banana Republic brands (Yahoo Market Guide, 2001).

The target market is generally the most lucrative choice from among different market segments – each segment being identifiable, measurable, sizable, reachable. For best results, include a fair amount of demographic information (income range, education level, family situation, etc.).

Continue Mission ensures that military Veterans and their families are the main focus of their mission and that they are given an opportunity to reduce their stress, improve their relationships, and prevent suicide. We utilize a three-pronged approach focused on improving and saving the lives of veterans through one-on-one services, group activities, and a large referral system of community resources that support and educate Veterans. Continue Mission is a 501C-3 non-profit organization founded by Joshua Hansen, U.S. Army, Retired and Laura Cantin.

In this article How Does Target Know so Much about Its Customers? Utilizing Customer Analytics to Make Marketing Decisions, the authors describe the kinds of data needed to recognize changes in a consumer’s habits, privacy concerns that occur when data mining, and marketing decisions made from the information. Whenever shoppers make a purchase or browse their Web site, Target gathers customer information, analyzes it, and might sell the data to other businesses. In fact, all three authors explained, “Target Corporation is a leader in analyzing vast amounts of data to identify buying patterns, improve customer satisfaction, predict future trends, select promotional strategies, and increase revenue.”(Corrigan, Craciun, Powell 159). Along with other stores, Target has created a

“In 2011, 92.8 million people in the U.S. used smartphones. By 2015, 190.5 million people used smartphones” (Holt, 2016). This new technology has vastly spread throughout the world and has improved the way Americans live their lives. Cell phones have given smartphone users numerous advantages, such as connecting the world, and enabling their multitasking skills. The usage of cell phones has gone to users heads as they have become addicted to their screens.

The Target that we chose to analyze our classification of products at was in Bloomington, IN at College Mall near Indiana University’s campus. Since this is one of the only malls near this campus, this is one of the only places for college students to shop. Also, there are many restaurants and other stores around that attract people to this area. From our experience of being students here, we know that we go to Target a lot to shop. Therefore, choosing to locate the store near a college campus and not a small town probably helps sales dramatically. College students are also at the age where they prefer to work out quite often, so Target is in the perfect place for customers that desire more active wear clothing. There are not many other

In the most recent market analysis from the NPD Group, iOS has assumed control of 43 percent of smartphone sales. The analysis further shows the market for basic phones has dwindled and that the cell phone market is fast becoming a smartphone market. The demand for anything other than smartphones is evaporating. This push toward high-end smartphones is helping not only Apple, but also Google and Samsung, which are benefiting from the desire of consumers to carry these all-powerful ‘mini’ computers in their pockets. With the connectivity these smartphones present, users are never left ‘out of

In this paper, we analysed the target audience, big and small differences, content, and ways to improve the annual report. The Hershey Company’s Annual Report and 10K have many differences and few similarities, where each document is written to communicate financial statement disclosures to its intended audience.

This allows for us to determine our specific target audience, and how we can reach them.

We are on target this week. Leslie has completed the problem statement, Merari has completed the Target Demographics/Population, and Dwayna is on schedule to have her slide on the impact of the Problem completed this week. Our communication this week has been outstanding. We had several email conversations as well as our scheduled Skype conversation Thursday evening. We have worked well together to ensure our presentation would reflect a common theme. At this point in time I do not foresee any issues that will prevent us from successfully completing our team

Note: An educated guess can be made that there is an overlap between the 3 target segments. This is a positive from the point of view that we can focus our attention on a niche segment that is affluent, well-informed, health conscious and highly likely to remain loyal.

1. Target Market Selection – Who is to be serviced needs to be determined. Target heavy users, all users, or even what age and gender to focus on.