Target Market

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

  • Describe the target market for your chosen company, whether it’s based the snack food company scenario or a start-up company of your choosing. Be sure to include the following:
    • Demographic Description: Age, income range, gender, family size, education, occupation, et cetera.
      • Example: A likely user for X product is a male aged 25–34 who earns between $35,000 and $55,000 per year and has a four-year college degree.
    • Geographic Description: Area you would like to serve, density (urban, rural), nature of location (mall, business center, et cetera), climate condition.
      • Example: Atlanta.
    • Lifestyle Description: Where do your customers shop, what do they do for leisure, what kind of clothes do they wear, what type of cars do they drive, et cetera?
    • Psychographic Description: How would you describe your target market, for example, socially responsible, trendsetters, or fun-seeking?
    • Purchasing Pattern Description: How will your target market use the product, how many times will they buy it, where do they buy the product, how do they pay for it, et cetera?
    • Buying Sensitivities Description: What factors are important to the customer before they buy (price, quality, customer service. packaging, et cetera)?

Requirements: As long as it takes to answer

Answer preview

Before getting into analysis and discussion of the company’s target market, it would only be pertinent to start by defining what a target market is. Generally, the terminology target market denotes a group of potential clients that an organization sells its products or services to (Camilleri, 2018). Organizations will often divide these customer groups into smaller segments according to location, age, lifestyle, and income. Once an organization can define its target market, it will be easier for the organization to know where and how to market its products or services (Camilleri, 2018). Defining an organization’s target market is critical; considering doing so helps a company target customers who are willing to pay for its products or services. In essence, understanding an organization’s target market allows it to discover information about its customers. This information might include; where the customers are, which media channels do they use, and what are their buying habits (Camilleri, 2018). This information allows a company to tailor its marketing ventures to encourage customers to purchase its products or services.

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Target Market