Create the value market segmentation analysis

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Reference no: EM131366041

Assignment - Create the Value: Market Segmentation Analysis and a Value Proposition

Your company has decided to explore the possibility of developing a new retail brand aimed at a specific target market. Please prepare a report that would form the basis of a planning discussion with your senior marketing managers. The term retail brand refers to a retail store concept, as opposed to a manufacturer's product or service brand - the retail company is the brand - like Target, GAP or Victoria's Secret.

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 proposed retail brand concept

2. Potential Market Segment

Identify the characteristics of your potential target market. 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, other
Race	White, Black, Asian, Hispanic
Generation	Baby boomers, Generation Xers
Nationality	North American, South American, British, French, German, Italian, Japanese
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/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 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

Reference no: EM131366041

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