Target Consumers BDI3C

What is a Target Consumer? To be considered a customer group, people need to act in a similar manner. To be considered a customer group, people need to act in a similar manner.E.g. –People who cook after 8 hours of work are not a customer group. They will behave differently depending on whether they have children, how many people they cook for, and whether they use prepared foods. –Working people who minimize their use of prepared food and are concerned about nutrition is a customer group

Maslow’s Hierarchy of Needs

The Consumer Buying Process Purchase Decisions Product Choice Product Choice Location Choice Location Choice Brand Choice Brand Choice Other Choices Other Choices Consumer Marketing Inputs Product Product Price Price Promotion Promotion Place Place Psychological Inputs CultureCulture AttitudeAttitude LearningLearning PerceptionPerception

Demographic Factors Age Age Stage in Family Life Cycle Stage in Family Life Cycle Occupation & Education Levels Occupation & Education Levels Economic Circumstances (Income Trends) Economic Circumstances (Income Trends) Lifestyle Lifestyle Social Influence Variables Social Influence Variables  family background/composition  reference groups (clubs, associations, etc.)  roles and status

Focus of Analysis What are the TRENDS? What are the TRENDS? –Median Age of Usage –Percentage of consumers in the workforce –Education Levels –Income Levels –Composition of the family –Minority consumers as a percentage of the population How will this affect your business? How will this affect your business?

Six Key Factors for Evaluating Customers Customer Characteristics Customer Characteristics –Number of Customers –Ease of Finding Customers –Spending Patterns Customer Value to Company Customer Value to Company –Dollar Value of Sale –Repeat Sales –Ongoing Sales Support