MARKET ASSIGNMENT


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    MARKET ASSIGNMENT

    Using the segmentation variables listed below select the right market for your product.

    Geographic

    Region

    Urban, suburban, rural

    City size

    Country size

    State size

    Market density

    Climate

    Terrain

    Demographic

    Age

    Gender

    Family size

    Ages of children

    Race

    Ethnicity

    Income

    Education

    Occupation

    Social status

    Family life cycle

    Religion

    Home ownership

    Psychographics

    Motives

    Activities

    Interests

    Opinions

    Lifestyles

    Behavioristic

    Benefits sought

    Usage

    Awareness and intentions

    Brand loyalty

    Price sensitivity

    Part two: 15 points (15)

    Psychographic lifestyle – Use Inner Resources Handout

    Consumer buying behavior Handout

    Part Three: 15 points (15)

    Discuss in detail the effects the environmental factors will have on the success and/or failure of your product. Identify one threat and the correspondingopportunity or response to that threat.

    Segmentation variables worksheet:

    (Use C = core F = fringe)

    Age:

    Under 6 ________ ______%

    6-11 ________ ______%

    12-17 ________ ______%

    18-24 ________ ______%

    25-34 ________ ______%

    35-44 ________ ______%

    45-54 ________ ______%

    55-64 ________ ______%

    65+ ________ ______%

    Gender:

    Male/female

    Household Income:

    Under 19,000 ________ ______%

    20-35,000 ________ ______%

    36 –45,000 ________ ______%

    46 -60,000 ________ ______%

    61 – 75,000 ________ ______%

    75,000-90,000 ________ ______%

    90,001 + ________ ______%

    Education:

    Did not graduate HS ________ ______%

    Graduated HS ________ ______%

    Two year degree ________ ______%

    Bachelor degree ________ ______%

    Graduate + ________ ______%

    Employment:

    Full-time ________ ______%

    Part-time ________ ______%

    Blue-collar ________ ______%

    White-collar ________ ______%

    Family size:

    One ________ ______%

    Two ________ ______%

    Three to four ________ ______%

    Five to six ________ ______%

    Seven + ________ ______%

    Family life cycle:

    Just married ________ ______%

    Married ________ ______%

    Empty nest ________ ______%

    Retirement ________ ______%

    Geography:

    Urban ________ ______%

    Suburban ________ ______%

    Rural ________ ______%

    Home:

    Own ________ ______%

    Rent ________ ______%

    Social Class:

    UH/UM/UL ________ ______%

    MH/MM/ML ________ ______%

    LH/LM/LL ________ ______%

    Ethnicity/Race:

    Asian ________ ______%

    Caucasian ________ ______%

    Black ________ ______%

    Hispanic ________ ______%

    Native American ________ ______%

    All cultures ________ ______%

    Psychographic Lifestyle worksheet:

    Description of a heavy user compared to an average user. (Use facts from the segmentation variables and five characteristics of your core market handout.)

    ____________________________________________________________

    _____________________________________________________________

    _____________________________________________________________

    ______________________________________________________________

    Attribute preference by heaviest user?

    Describe heavy user motive(s) for purchasing.

    Behavioristic Segments:

    Benefits sought to satisfy need.

    Product usage

    Rate of use

    Awareness and intentions

    Readiness to purchase

    Brand familiarity – H/M/L

    Brand Loyalty – H/M/L

    Price sensitivity – H/M/L

    Consumer Buying Behavior Analysis:

    Consumer Motivation

    LEARNING –

    PERCEPTION – customer

    MOTIVATION –

    All purchase behavior starts with motivation. A motive or drive develops from an aroused need that an individual seeks to satisfy. Very little is known about what goes on in a buyer’s mind before, during and after a purchase. We do know that when a buyer makes a purchase decision, he or she is trying to accomplish something.

    We also know that a purchase is rarely the result of a single motive and that various motives may conflict. Purchasing behavior can vary over time as an individual’s internal and external buying influences change.

    Perception is how we view other things through our own prism. Images of things we think they should be or look like. Self Images are then our view of ourselves; how do we view one in different situations.

    Why consumers purchase: To increase, to improve, to protect, to reduce, and to save.

    Maslow’s Hierarchy of Needs

    Self Images:

    Actual – we purchase products based on the functional need to satisfy; transportation, hunger, clothing

    (Maslow’s basic and physiological needs)

    Other – we purchase products based on what other’s except us to buy; clothing, transportation, hunger.

    (Maslow’s social belonginess)

    Desired – we purchase products based on the desire to change how I feel about myself and how I appear to others.

    (Maslow’s Ego Esteem)

    Discuss in detail the consumer motivation for purchasing a product. Indicate the motivation for the heavy user (core market). Indicate why you have chosen ACTUAL (functional use), OTHER (belonginess, expectation), or DESIRED SELF IMAGE (to change). Remember that self-images are how I perceive myself. They influence our motivation to purchase.

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    ENVIRONMENTAL ANALYSIS:

    Discuss in detail the effects the Environment will have on the success and/or failure of your product. Identify oneTHREAT, and the corresponding OPPORTUNITY or RESPONSE you have to that threat. Complete for all five environmental factors.

    Social-cultural trends

    Competition

    Economy

    Legal political

    Technology

    Social-cultural 
    trend(s)Threat:__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

    Response:_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

    Competition:

    Threat:__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

    Response:_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

    Economy:

    Threat:__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

    Response:_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

    Legal/Political:

    Threat:__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

    Response:_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

    Technological:

    Threat:__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

    Response:_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________


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