Week 3 Assignment – Create the Value Market Segmentation Analysis

| October 3, 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 brandaimed at a specific target market. Please prepare a report that would form the basis of aplanning discussion with your senior marketing managers. The term retail brand refers toa retail store concept, as opposed to a manufacturer’s product or service brand ­ the retailcompany is the brand ­ like Target, GAP or Victoria’s Secret.Your report should include a detailed analysis of a potential market segment and adescription of the proposed value proposition. Your report should be about 1,000–1,250words and include a minimum of three references. Please use the APA format for yourpaper 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 2lecture is helpful – you may also include other variables that you consider relevant. Youalso need to estimate the size of your target market and the revenue potential.Major Segmentation Variables for Consumer MarketsGeographic regionPacific Mountain, West North Central, WestSouth Central, East North Central, EastSouth Central, South Atlantic, MiddleAtlantic, 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 andoverOccupationProfessional and technical workers;managers, officials, and proprietors; clericalsalespeople; craftspeople; forepersons;operatives; farmers; retired people; students;homemakers; unemployed peopleEducationGrade school or less; some high school;high school graduate; some college; collegegraduateReligionCatholic, 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 lifestyleCulture­oriented, sports­oriented, outdoor­orientedPersonalityCompulsive, gregarious, authoritarian,ambitiousBehavioral occasionsRegular occasion, special occasionBenefitsQuality, service, economy, speedUser statusNonuser, ex­user, potential user, first­timeuser, 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. Featuresare what the company offers and benefits are what the customer derives from thesefeatures.Functional Benefits – What basic features are offered?Emotional Benefits – What features are offered that make the customer feel good?Self­Expressive Benefits – What features are offered that help reflect andcommunicate the customer’s values to everyone in the social environment?4. ConclusionsGrading RubricOutlineDescriptionPointsDescription20/20 Brief Description of the Retail Brand ConceptPotential Mkt SegmentIdentify the characteristics of your potential target market;20/20 estimate the size of your target market and the revenuepotential.Value Proposition20/ 20Conclusion10/10APA format/References20/20and Inline citesEditing, spelling,10/10grammarTotal100Describe the bundle of benefits and features (Functionalbenefits; Emotional benefits; Self­expressive benefits)Clear conclusions and summaryProper APA format, 1inch margins, 12 point font, title page,headings used.Written at a graduate level, more than 5 error results in 0points.Notes to student.

Order your essay today and save 20% with the discount code: ESSAYHELP
Order your essay today and save 20% with the discount code: ESSAYHELPOrder Now