Characteristics of a target market
Choose a specific target market (ex. Children aged 3-6 years) and will describe the characteristics of this target market along with the requirements for this target market. Then, the student will analyze a product category towards this target market (ex. Toys and entertainment activities as TV shows or other activities addressed towards young children).
On this analysis, the student will describe the needs and wants/desires, that each product satisfies, will identify different offers that are already in the market and how each offer satisfies those needs. Describe the marketing mix of each solution (between 2 to 4 offerings).
1.What is the target market that you are going to analyze?
- Which product or service is intended towards this specific target market?
- What need does the above market have for your product or service?
- What is the basic message that you would like to send to this market in regards to your product?
- How each of the offers that category of product does satisfy the needs and wants of their target market?
- What is the best way of getting in contact with your projected market? (i.e.- T.V, Radio, Print, Online)
- Develop the marketing mix (4Ps in case of products / 7Ps in case of services) for each of the offerings. Follow the template below using your answers to question 7 as a guide.
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