Week 3 Discussion

"Target Market"

 

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

1. 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. 

 

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.)

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. 

 Watch Media

Goal: Complete Week 3 discussion by Wednesday and the comments before Friday.