Highlighting differences between postal code 60614 and the USA.

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Presentation transcript:

Highlighting differences between postal code and the USA.

 A comparison is made of general, social and economic characteristics between USA and area and how the differences are likely to influence the advertising schemes. A market segmentation is then done and applied to the layout of a mall.

 The success of any business is dependent on making the right decisions. Decisions are not made on an arbitrary basis rather are supported by market research. Effective marketing is an important aspect of business success.  An organization cannot satisfy the needs of all of its customers and thus divides up the market into group of homogeneous customers. This is known as market segmentation.  The business then comes up with a product that it wants to sell to a particular segment. It is of utmost importance that the advertisement reflects the characteristic of that particular segment.

Source:

 The development company wants to know which specific businesses the stores should be leased to in the new 5-store strip mall (small businesses) in the community  The suggestions are based on statistical data: 1) clothing and apparel store for consumers between ) Designer goods store including goods from known brands 3) electronic store selling luxurious items such as surround systems, digital cameras, iphones etc 4) sports shop targeting single men and women 5) shop selling cosmetics and other beauty products products such as body shop

 The differences highlighted between USA and area mean that advertisement campaigns need to be varied to reflect the market segment of this area. Advertisements schemes should place greater focus on age group 18-34, single men and women and finally on selling luxurious goods as the income level in this area is reportedly higher than the USA average.