Target market | Business & Finance homework help

“Target Market”

1. For this week’s discussion, describe the target market for your NAB business including a description of your target market’s key demographic elements. You should also mention the geographic, lifestyle, psychographic, purchasing pattern, and buying sensitivities of your proposed target market. 

· You will use this week’s information in Assignment 2 – Question 1. 

To help you get started see the example 

Include these in your target market description:

1.    Demographic Description (age and income range, gender, family size, education, occupation, etc.)

Example: A likely user for X product is a male between ages 25 and 34 who earns between $25,000 and $35,000 per year and has a four-year college degree.

2.    Geographic Description: area where you would like to serve, density (urban, rural), nature of location (mall, business center, etc.), climate condition.

An example of demographic description would be: Atlanta area.

3.    Lifestyle Description: where do your customer shop, what they do for leisure, what kind of clothes they were, cars they drive, etc.

4.    Psychographic Description: socially responsible, trendsetter, fun-seeking, etc.

5.    Purchasing pattern description: how they use the product, how many times they buy, where do they buy the product, how do they pay for it etc.…

6.    Buying Sensitivities Description: What factors are important to the customer before they buy (price, quality, customer service, packaging, etc.?)

Resources

  · Target Market Description Examples:

http://www.ccsfmarketing.com/sample-target-market-descriptions.html

· How to find your target market   

https://www.thebalancesmb.com/how-to-find-and-sell-to-your-target-market-2947179

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