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Can I have it ready by 11pm tonight if possible? The chosen-(Answered)

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Can I have it ready by 11pm tonight if possible?

The chosen Product is Johnson's Baby Wash

MKTG211 Target Market & Segmentation Worksheet & Grading?Rubric?

Due Day 7 of Week Two


Instructions:?


  • Using your product for the Marketing Strategy Analysis Project, complete the Target Market Worksheet below. You will use this information to write your final Marketing Strategy Analysis report during Week Six.?
  • Keep in mind that you are analyzing a current target market for this product; not creating a new one.?
  • Therefore, you should be researching how the product is currently distributed and advertised for clues, but will have to use sound logic and other research for what you cannot find.
  • The first step is to define one target market for this product.
  • Then, you will segment your target market using all bases of segmentation described in the textbook. Please read and understand all of the segmentation components before completing this assignment. For example, do not guess what a lifestyle trait or benefits segment is as there are clear examples/definitions of these in the textbook.
  • Finally, remember that a target market description describes the people in the target market. Product descriptions do not belong in this section.


For each answer below, explain your rationale in 2-3 sentences.



Student Name:? AP


Product:? Johnson's Baby Wash







Target Market


1. Target Market:? What is the overarching target market? ?Who is the product targeting? Think broad, but defined enough so that you are not including those outside of the target. We don't want to waste time and money trying to communicate to those who likely won't be interested. Do some research to determine: who is your product is trying to communicate with/appeal to?


Example: Davenport University's target market can be defined as: those aged 19-40 who have a GED or high school diploma, are interested in business, health or technology careers and live in Michigan.


Target Market:






Rationale:?











Segmenting the Target Market

In the next steps, you'll begin to tease apart the differences within your broad target market by using segmentation, which is useful for communicating to subgroups of your target market.


2. Geography:? Where are the people in this target market located?? Remember, this is NOT just a reiteration of where the company does business. Instead, you are focusing on describing where the people in this specific target market are located.? The answer here CANNOT be the entire world - this is too broad.? Also, remember that different countries have different cultures that impact buying behavior.? Here, you can look at a country (the United States); a region (the Midwest - but then explain what makes up the Midwest; for example, MI, WI, IN, OH, IL) a state (Michigan); a region of a state (West Michigan - but then explain what makes up West Michigan; for example, everything west of Lansing in the lower peninsula).? You can discuss rural versus urban areas, but you still must be specific about the actual location.


Geography:?



Rationale:?













3. Demographics

a.?? Age:? Provide a specific age range.? Do not just state generational names, such as Baby Boomers or Generation X.? Also, remember that all people in this target market need to be able to be reached using the same marketing mix (product, price, promotion, and place).? Be sure to ask yourself if the youngest age and the oldest age in your range are looking for the same benefits in the product and can be reached using the same marketing strategies.


Age Range: ?


Rationale:?










b.?? Gender:? State either men or women or both men and women.


Gender:?


Rationale:?











c.?? Income:? Provide a specific income range.? Do not just state middle income or low income; these descriptions are not clear enough.? Instead, state a low income to high income range (ex. $32,000-$75,000).? Do not use a $0 income.? Companies will not target people who do not have the money to pay for their product.? If you are describing a target market with children or teenagers who do not have an income, then describe the household income (combined parents' income).? Also, be sure to include a dollar sign or other designation of currency.


Income Range:?


Rationale:?











d.?? Ethnicity:? Provide specific ethnic groups in this target market.? Do not state that this information is not applicable.? All information can be described and is applicable to the target market description.? If this target market does not differentiate based on ethnicity, state that they target all ethnicities, but this is often not the case.? Make sure to completely examine the company communications, including advertising for clues to the ethnicities targeted.


Ethnicity:?


Rationale:?












e. Family Life Cycle:? Provide marital and family status based on the family life cycle.? Here, you can add multiple levels of the family life cycle; just make sure that they can all be reached using the same marketing mix strategies.


Family Life Cycle:?


Rationale:?













4.?? Psychographics

a.?? Personality:? Describe at least three distinct personality traits that apply to this group of people.? Personality is defined as "the totality of thoughts, emotions, intentions, and behaviors that a person exhibits consistently as he or she adapts to his or her environment" (Babin & Harris, 2011).? Some examples of personality traits from CB2 are value consciousness, materialism, innovativeness, complaint proneness, competitiveness, frugality, impulsiveness, anxious, bargaining proneness, vanity, extroversion, introversion, agreeable, open to experiences, stable, and conscientiousness.

Babin, B. J., & Harris, E. G. (2011). CB2. Mason, OH: South-Western, Cengage Learning.


Personality Traits:

1.?

2.?

3.?


Rationale:?
















b.?? Motives:? Describe at least three distinct motives that apply to this group of people.? Each motive needs to be conveyed in sentence form.? This information describes what motivates the people in this target market to purchase this type of product.? All motives need to apply to all people in this specific target market.


Motives:

1. ?


2.?


3.?


Rationale:?
















c.?? Lifestyles:? Describe at least three distinct lifestyle traits that apply to this group of people.? Lifestyles take into account the activities, interests, and opinions of the people in this target market.? Be specific and provide the details.? Each lifestyle characteristic needs to be conveyed in sentence form.? Rather than simply saying they like sports, explain whether they play or watch sports and what sports they enjoy (football, baseball, hunting, fishing, bowling, hiking, etc.).


Lifestyle Characteristics: (Rationale next page)

1. ?



2.?



3.?



Rationale:?




















5.?? Benefits Segmentation:? Describe at least three benefits sought.? Each benefit needs to be conveyed in sentence form.? Make sure that these are written as benefits sought by the people in this target market when shopping for this type of product; not as the benefits offered by your specific product.? It may seem like semantics, but it's extremely important that you are describing the people in this target market; not the product. For example, state that the people in this target market are looking for a detergent that makes their colors brighter after washing; not that Tide makes clothes brighter.? Or, maybe the target market is looking for a different type of benefit like they want a certain type of scent from their laundry detergent, or they want their clothes to smell like they did when mom washed them.


Benefits Sought:

1. ?


2.?


3.?



Rationale:?




















6.?? Usage Rate Segmentation:? Describe how often the people in this target market use this type of product.? Do not just reiterate the 80/20 principle.? Instead, describe the people in this specific target market and explain how often they use this type of product (once a day; twice a week, etc.).? Stating that they are first-time users or repeat purchasers is fine, but you still need to describe how often they use this type of product.? The usage rate needs to be conveyed in sentence form.


Usage Rate:






Rationale:?






















References:??


7.?? Outside Reference(s):? Provide at least one outside reference, using APA style formatting, to support your analysis. This reference cannot be the textbook. You are welcome to use the textbook as a reference, but it must be in addition to a separate outside reference.? All references cited here must also be cited in-text in the rationale area of one of the answers above.






















Target Market Worksheet Grading Rubric



Points Available

Points Earned

Clearly and specifically defined the target market.

10


Clearly and specifically defined the geography for the target market, including a clear rationale.


5


Clearly and specifically defined all sections of the demographics for the target market, including a clear rationale. (3 points per section)


15


Clearly and specifically defined all sections of the psychographics for the target market, including a clear rationale.? (7 points per section/)


21


Clearly and specifically defined three benefits sought for the target market, including a clear rationale. (2 points per benefit)


6


Clearly and specifically defined the usage rate for the target market, including a clear rationale.


6


Included at least one outside reference, cited using APA formatting.


6


Mechanics: Paper was free of grammatical, spelling and/or typographical errors, verb tense remained consistent throughout the entire paper


6


Total Points

75



MKTG211 Target Market & Segmentation Worksheet

 

Due Day 7 of Week Two

 

Instructions:

 


 


 


 


 


 


 


 


 

Using your product for the Marketing Strategy Analysis Project, complete the Target

 

Market Worksheet below. You will use this information to write your final Marketing

 

Strategy Analysis report during Week Six.

 

Keep in mind that you are analyzing a current target market for this product; not

 

creating a new one.

 

Therefore, you should be researching how the product is currently distributed and

 

advertised for clues, but will have to use sound logic and other research for what you

 

cannot find.

 

The first step is to define one target market for this product.

 

Then, you will segment your target market using all bases of segmentation described in

 

the textbook. Please read and understand all of the segmentation components before

 

completing this assignment. For example, do not guess what a lifestyle trait or benefits

 

segment is as there are clear examples/definitions of these in the textbook.

 

Finally, remember that a target market description describes the people in the target

 

market. Product descriptions do not belong in this section.

 


 

For each answer below, explain your rationale in 2-3 sentences.

 

Student Name: AP

 

Product: Johnson?s Baby Wash

 

Target Market

 

1. Target Market: What is the overarching target market? Who is the product targeting? Think

 

broad, but defined enough so that you are not including those outside of the target. We don?t

 

want to waste time and money trying to communicate to those who likely won?t be interested. Do

 

some research to determine: who is your product is trying to communicate with/appeal to?

 

Example: Davenport University?s target market can be defined as: those aged 19-40 who have a

 

GED or high school diploma, are interested in business, health or technology careers and live in

 

Michigan.

 

Target Market:

 


 

Rationale:

 


 

Segmenting the Target Market

 

In the next steps, you?ll begin to tease apart the differences within your broad target market by

 

using segmentation, which is useful for communicating to subgroups of your target market.

 

2. Geography: Where are the people in this target market located? Remember, this is NOT

 

just a reiteration of where the company does business. Instead, you are focusing on describing

 

where the people in this specific target market are located. The answer here CANNOT be the

 

entire world ? this is too broad. Also, remember that different countries have different cultures

 

that impact buying behavior. Here, you can look at a country (the United States); a region (the

 

Midwest ? but then explain what makes up the Midwest; for example, MI, WI, IN, OH, IL) a state

 

(Michigan); a region of a state (West Michigan ? but then explain what makes up West

 

Michigan; for example, everything west of Lansing in the lower peninsula). You can discuss

 

rural versus urban areas, but you still must be specific about the actual location.

 

Geography:

 

Rationale:

 


 

3. Demographics

 

a. Age: Provide a specific age range. Do not just state generational names, such as Baby

 

Boomers or Generation X. Also, remember that all people in this target market need to be able

 

to be reached using the same marketing mix (product, price, promotion, and place). Be sure to

 

ask yourself if the youngest age and the oldest age in your range are looking for the same

 

benefits in the product and can be reached using the same marketing strategies.

 

Age Range:

 

Rationale:

 


 

b. Gender: State either men or women or both men and women.

 

Gender:

 

Rationale:

 


 

c. Income: Provide a specific income range. Do not just state middle income or low income;

 

these descriptions are not clear enough. Instead, state a low income to high income range (ex.

 

$32,000-$75,000). Do not use a $0 income. Companies will not target people who do not have

 

the money to pay for their product. If you are describing a target market with children or

 

teenagers who do not have an income, then describe the household income (combined parents?

 

income). Also, be sure to include a dollar sign or other designation of currency.

 

Income Range:

 

Rationale:

 


 

d. Ethnicity: Provide specific ethnic groups in this target market. Do not state that this

 

information is not applicable. All information can be described and is applicable to the target

 

market description. If this target market does not differentiate based on ethnicity, state that they

 

target all ethnicities, but this is often not the case. Make sure to completely examine the

 

company communications, including advertising for clues to the ethnicities targeted.

 

Ethnicity:

 

Rationale:

 


 

e. Family Life Cycle: Provide marital and family status based on the family life cycle. Here, you

 

can add multiple levels of the family life cycle; just make sure that they can all be reached using

 

the same marketing mix strategies.

 

Family Life Cycle:

 

Rationale:

 


 

4. Psychographics

 

a. Personality: Describe at least three distinct personality traits that apply to this group of

 

people. Personality is defined as ?the totality of thoughts, emotions, intentions, and

 

behaviors that a person exhibits consistently as he or she adapts to his or her environment?

 

(Babin & Harris, 2011). Some examples of personality traits from CB2 are value

 

consciousness, materialism, innovativeness, complaint proneness, competitiveness,

 

frugality, impulsiveness, anxious, bargaining proneness, vanity, extroversion, introversion,

 

agreeable, open to experiences, stable, and conscientiousness.

 

Babin, B. J., & Harris, E. G. (2011). CB2. Mason, OH: South-Western, Cengage Learning.

 

Personality Traits:

 

1.

 

2.

 

3.

 

Rationale:

 


 

b. Motives: Describe at least three distinct motives that apply to this group of people.

 

Each motive needs to be conveyed in sentence form. This information describes what

 

motivates the people in this target market to purchase this type of product. All motives need

 

to apply to all people in this specific target market.

 

Motives:

 

1.

 

2.

 

3.

 

Rationale:

 


 

c. Lifestyles: Describe at least three distinct lifestyle traits that apply to this group of

 

people. Lifestyles take into account the activities, interests, and opinions of the people in

 

this target market. Be specific and provide the details. Each lifestyle characteristic needs to

 

be conveyed in sentence form. Rather than simply saying they like sports, explain whether

 

they play or watch sports and what sports they enjoy (football, baseball, hunting, fishing,

 

bowling, hiking, etc.).

 

Lifestyle Characteristics: (Rationale next page)

 

1.

 

2.

 

3.

 

Rationale:

 


 

5. Benefits Segmentation: Describe at least three benefits sought. Each benefit needs to be

 

conveyed in sentence form. Make sure that these are written as benefits sought by the people

 

in this target market when shopping for this type of product; not as the benefits offered by your

 

specific product. It may seem like semantics, but it?s extremely important that you are

 

describing the people in this target market; not the product. For example, state that the people

 

in this target market are looking for a detergent that makes their colors brighter after washing;

 

not that Tide makes clothes brighter. Or, maybe the target market is looking for a different type

 

of benefit like they want a certain type of scent from their laundry detergent, or they want their

 

clothes to smell like they did when mom washed them.

 

Benefits Sought:

 

1.

 

2.

 

3.

 

Rationale:

 


 

6. Usage Rate Segmentation: Describe how often the people in this target market use this

 

type of product. Do not just reiterate the 80/20 principle. Instead, describe the people in this

 

specific target market and explain how often they use this type of product (once a day; twice a

 

week, etc.). Stating that they are first-time users or repeat purchasers is fine, but you still need

 

to describe how often they use this type of product. The usage rate needs to be conveyed in

 

sentence form.

 

Usage Rate:

 


 

Rationale:

 


 

7. Outside Reference(s): Provide at least one outside reference, using APA style formatting,

 

to support your analysis. This reference cannot be the textbook. You are welcome to use the

 

textbook as a reference, but it must be in addition to a separate outside reference. All

 

references cited here must also be cited in-text in the rationale area of one of the answers

 

above.

 

References:

 


 

Target Market Worksheet Grading Rubric

 

Points Available

 

10

 


 

Clearly and specifically defined the target market.

 

Clearly and specifically defined the geography for the

 

target market, including a clear rationale.

 

Clearly and specifically defined all sections of the

 

demographics for the target market, including a clear

 

rationale. (3 points per section)

 

Clearly and specifically defined all sections of the

 

psychographics for the target market, including a clear

 

rationale. (7 points per section/)

 

Clearly and specifically defined three benefits sought for

 

the target market, including a clear rationale. (2 points

 

per benefit)

 

Clearly and specifically defined the usage rate for the

 

target market, including a clear rationale.

 

Included at least one outside reference, cited using APA

 

formatting.

 

Mechanics: Paper was free of grammatical, spelling

 

and/or typographical errors, verb tense remained

 

consistent throughout the entire paper

 

Total Points

 

Instructor Comments: Please see feedback in the paper above.

 


 

5

 

15

 

21

 

6

 

6

 

6

 

6

 

75

 


 

Points Earned

 


 

 

Paper#9256592 | Written in 27-Jul-2016

Price : $16
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