1 / 9

WHO IS OUR TARGET MARKET?

Gain insight into the target market for your automated retail kiosk by utilizing market segmentation concepts like demographics, psychographics, geographics, and behavioral factors to identify and connect with potential customers effectively.

hamm
Download Presentation

WHO IS OUR TARGET MARKET?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. WHO IS OUR TARGET MARKET? Write a brief description of our SBE’s target market. IMPLEMENTING AUTOMATED RETAIL: PEOPLE

  2. THE MARKETING MIX IMPLEMENTING AUTOMATED RETAIL: PEOPLE

  3. MARKET People who have similar needs and wants and are capable of buying products • A key part of this definition is the fact that the potential customer has the purchasing power to buy the product offered. IMPLEMENTING AUTOMATED RETAIL: PEOPLE

  4. TARGET MARKET The group of customers most likely to purchase your product. It is the group of people toward whom a business directs it’s promotional efforts. • Successful businesses look for ways to connect with their customers; understanding the customer or potential customer is the key to gaining their trust and their patronage IMPLEMENTING AUTOMATED RETAIL: PEOPLE

  5. MARKET SEGMENTATION The process of defining and subdividing a large market into identifiable segments having similar needs, wants, or demands. • All businesses need to define their target market as specifically as possible and avoid generalizations or broad definitions. IMPLEMENTING AUTOMATED RETAIL: PEOPLE

  6. IDENTIFYING THE TARGET MARKET When identifying the target market, consider the following questions : • Is your market male or female? • What age? • Where do they live? • What do they do for a living? • How much money do they make? • What lifestyles and attitudes do they have? IMPLEMENTING AUTOMATED RETAIL: PEOPLE

  7. TARGET MARKET RESEARCH CLUSTERS • Demographics: personal characteristics that make up a target market. • This includes: age, gender, income, marital status, and ethnic background. • Psychographics: social lifestyles (such as student, parent, athlete, etc.), attitudes, values, and opinions • Geographics: segmenting the market based on where people live. • This can be local, regional, national, and even global descriptions. • Behavioral: segmenting the market based on product- related behavior that involves the benefits sought by customers or shopping patterns. IMPLEMENTING AUTOMATED RETAIL: PEOPLE

  8. ACTIVITY Using the concepts described in segmenting a market, write a detailed description of the target market for the automated retail kiosk. IMPLEMENTING AUTOMATED RETAIL: PEOPLE

  9. QUIZ TARGET MARKET IMPLEMENTING AUTOMATED RETAIL: PEOPLE

More Related