devry MKTG522 week 3 assignment

| June 14, 2018

Week 3: AssignmentCreate the Value: Market Segmentation Analysis and a Value PropositionYour company has decided to explore the possibility of developing a new retail brand aimed at a specific target market. Please prepare a report that would form the basis of a planning discussion with your senior marketing managers. The term retail brand refers to a retail store concept, as opposed to a manufacturer’s product or service brand – the retail company is the brand – like Target, GAP or Victoria’s Secret.Your report should include a detailed analysis of a potential market segment and a description of the proposed value proposition. Your report should be about 1,000–1,250 words and include a minimum of three references. Please use the APA format for your paper and references. Please include the following sections:1. Brief Description of the proposed retail brand concept2. Potential Market SegmentIdentify the characteristics of your potential target market. The figure from the Week 2 lecture is helpful – you may also include other variables that you consider relevant. You also need to estimate the size of your target market and the revenue potential.Major Segmentation Variables for Consumer MarketsGeographic regionPacific Mountain, West North Central, West South Central, East North Central, East South Central, South Atlantic, Middle Atlantic, New EnglandCity or metro sizeUnder 5,000; 5,000–20,000; 20,000–50,000; 50,000–100,000; 100,000–250,000; 250,000–500,000; 500,000–1,000,000; 1,000,000–4,000,000; 4,000,000 or overDensityUrban, suburban, ruralClimateNorthern, southernDemographic ageUnder 6, 6–11, 12–19, 20–34, 35–49, 50–64, 64+Family size1–2, 3–4, 5+Family life cycleYoung, single; young, married, no children; young, married, youngest child under 6; young; married, youngest child 6 or over; older, married, with children; older, married, no children under 18; older, single; otherGenderMale, femaleIncomeUnder $10,000; $10,000–$15,000; $15,000–$20,000; $20,000–$30,000; $30,000–$50,000; $50,000–$100,000; $100,000 and overOccupationProfessional and technical workers; managers, officials, and proprietors; clerical salespeople; craftspeople; forepersons; operatives; farmers; retired people; students; homemakers; unemployed peopleEducationGrade school or less; some high school; high school graduate; some college; college graduateReligionCatholic, Protestant, Jewish, Muslim, Hindu, otherRaceWhite, Black, Asian, HispanicGenerationBaby boomers, Generation XersNationalityNorth American, South American, British, French, German, Italian, JapaneseSocial classLower lowers, upper lowers, working class, middle class, upper middles, lower uppers, upper uppersPsychographic lifestyleCulture-oriented, sports-oriented, outdoor-orientedPersonalityCompulsive, gregarious, authoritarian, ambitiousBehavioral occasionsRegular occasion, special occasionBenefitsQuality, service, economy, speedUser statusNonuser, ex-user, potential user, first-time user, regular userUsage rateLight user, medium user, heavy userLoyalty statusNone, medium, strong, absoluteReadiness stageUnaware, aware, informed interested, desirous, intending to buyAttitude toward productEnthusiastic, positive, indifferent, negative, hostile3. The Value PropositionDescribe the bundle of benefits/features that are offered to the target customer. Features are what the company offers and benefits are what the customer derives from these features.· Functional Benefits – What basic features are offered?· Emotional Benefits – What features are offered that make the customer feel good?· Self-Expressive Benefits – What features are offered that help reflect and communicate the customer’s values to everyone in the social environment?4. ConclusionsGrading RubricOutlinePointsDescription Description20/20Brief Description of the Retail Brand ConceptPotential Mkt Segment20/20Identify the characteristics of your potentialtarget market; estimate the size of your target market and the revenue potential.Value Proposition 20/ 20Describe the bundle of benefits and features (Functional benefits; Emotional benefits; Self-expressive benefits)Conclusion10/10 Clear conclusions and summaryAPA format/Referencesand Inline cites20/20Proper APA format, 1inch margins, 12 point font, title page,headings used.Editing, spelling,grammar10/10Written at a graduate level, more than 5 error results in 0points.Total100Notes to student.

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