Description

In this assignment you are responsible for identifying and discussing two areas:

1. Target Market
2. Buyer Behavior

1. Your assignment should begin with a discussion of your proposed Target Market. This description needs to be specific and clearly outline how this segment differs from other segments purchasing your product or service.  To accomplish this, you will need to do the following:

1. Identify and describe the method you’ve selected for segmenting the market. For the purposes of this exercise, your segmentation method needs to be based on the reason or purpose for the customer purchasing the product.  This would include a discussion of the motivations that caused the purchase decision.
2. Supplement this needs-based reason with supporting demographic, e.g., age, income, family status, education information for the largest number of customers in this segment. If you prefer, you can also use a psychographic description using VALS II or another model.
3. Estimate the addressable number of prospective customers (Those members of the target market that can be reached given the Strengths and resources of the company.) in this segment and the expected purchases for the group. These purchases should be estimated on an annual basis and include a discussion of the expected growth rate during the term of your marketing plan, i.e., 2-3 years.

1. The second portion of this section is a discussion of the buyer behavior of the prospective customers:

1. The value received by the customer.
2. A description of the type of purchase.
3. Two to three benefits sought by the customer.
4. Type and extent of the search expected to be made by the customer.
5. Level of customer involvement in the purchase and your reasons for selecting this level of involvement.
6. The impact of cultural, social, and individual factors on the purchase decision.

Stage Format

1. Maximum Length: 6, single-spaced pages.
2. Font: 12-point
3. Margins: 1-inch on all borders
4. Points: 80