Week 3: Assignment Create the Value

| August 14, 2017

Week
3: Assignment
Create the Value: Market Segmentation
Analysis and a Value Proposition
Your
U.S.-based company has decided to explore the possibility of developing a
business based on the organic farm concept Daylesford—developed by Lady Bamford—which
is successful in the UK (daylesford.com). Please prepare a report that would
form the basis of a planning discussion with your senior marketing managers.
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 Daylesford Organic
Farm Concept
2. Potential Market Segment
Identify the
characteristics of your potential target market in the United States. 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 Markets

Geographic region

Pacific Mountain,
West North Central, West South Central, East North Central, East South
Central, South Atlantic, Middle Atlantic, New England

City or metro size

Under 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 over

Density

Urban, suburban,
rural

Climate

Northern, southern

Demographic age

Under 6, 6–11,
12–19, 20–34, 35–49, 50–64, 64+

Family size

1–2, 3–4, 5+

Family life cycle

Young, 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; other

Gender

Male, female

Income

Under $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 over

Occupation

Professional and
technical workers; managers, officials, and proprietors; clerical
salespeople; craftspeople; forepersons; operatives; farmers; retired people;
students; homemakers; unemployed people

Education

Grade school or
less; some high school; high school graduate; some college; college graduate

Religion

Catholic,
Protestant, Jewish, Muslim, Hindu, Buddhist, other

Race

White, Black,
Asian, Hispanic, other

Generation

Baby boomers,
Generation Xers, other

Nationality

North American,
South American, British, French, German, Italian, Japanese, other

Social class

Lower lowers, upper
lowers, working class, middle class, upper middles, lower uppers, upper
uppers

Psychographic
lifestyle

Culture oriented,
sports oriented, outdoor oriented

Personality

Compulsive,
gregarious, authoritarian, ambitious

Behavioral
occasions

Regular occasion,
special occasion

Benefits

Quality, service,
economy, speed

User status

Nonuser, ex-user,
potential user, first-time user, regular user

Usage rate

Light user, medium
user, heavy user

Loyalty status

None, medium,
strong, absolute

Readiness stage

Unaware, aware,
informed interested, desirous, intending to buy

Attitude toward
product

Enthusiastic,
positive, indifferent, negative, hostile

3. The Value Proposition
Describe the bundle
of benefits and 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 product 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. Conclusions

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