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Target Segment
With a population of 4,421, median age of 59.6, median income $42,000, consumer spending 93 mm, and consumer spending per household $40,963, the represented target segment is a mature years life stage. The population is a low density small area. These are small towns and rural areas that include exurbs, towns, farming communities, etc. (PRISM Social Groups, 2011).
This is a mature year's group because the median age is over 55. It represents households that are empty nest, mature couples that may not have children in the home. Although, they may have children that have left and returned home. With the area having a low density, it represents a small town that is mostly farmers, although small business is present to meet the needs of the community.
The mature town and rural...
They tend to want more value from a product for the price they have to pay and are more cautious in spending habits. They place value on simple pleasures, such as fishing, hunting, gardening, golf, raising livestock, etc.
This is different than the family life urban group who are about money and brains, but in a different way. The family life urban group is more about urban achievement and living the American dreams. Style and the look of success plays a big part of decisions on which products to buy. For example, in marketing PUMA shoes, this group would better be reached with the style of the shoes with less focus on the value of price vs. quality.
A marketer would need to know which…
Bibliography
Customer Lifecycle, LLC. (2013). Predictive Segmentation Enables Optiminal Targeting of Your Customer Database. Retrieved from Green Book: http://www.greenbook.org/marketing-research.cf...timal-targeting-of-your-customer-database-34754
PRISM Social Groups. (2011). Retrieved from SDRS: http://www.srds.com/frontMatter/ips/lifestyles/reports/prism.html
Trends in Black Purchasing Power of Generation X Purchasing power for Blacks both alone and in combination with other ethnicities (AOIC) increased faster than all races from 2005-2007, but started to lose that growth rate over 2007-08. The consumers who identified as polyethnic increased earnings faster at first but those slowed to even more sharply negative at the end of our period. all races white alone blackAlone Black AOIC Asian Alone Hispanic 2005 25,036 26,496 16,874 16,629 27,331 14,483 2006 26,352 27,821 17,902 17,564 30,474 15,421 2007 26,804 28,325 18,428 18,107 29,901 15,603 2008 26,964 28,502 18,406 18,054 30,292 15,674 2005-06 5.26% 5.00% 6.09% 5.62% 11.50% 6.48% 2006-07 1.72% 1.81% 2.94% 3.09% -1.88% 1.18% 2007-08 0.60% 0.62% -0.12% -0.29% 1.31% 0.46% Most Profitable Product to
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