1. Select and describe a product market (tangible or intangible) and impose geographic and time parameters on it. Here's an example of a product market: Demand for athletic footwear products in Connecticut during the past 12 months. 

 

2. Describe a specific customer segment in this product market. You do not need any market data for this description. Assume the segment represents a brand's target market. Drawing again on the athletic footwear example, the target market might be: Working professionals in Connecticut aged 21-44 who regularly engage in aerobic exercise such as running or powerwalking. Feel free to add in any psychographic (e.g., fashion-conscious) characteristics you feel will help us better understand the target. 

 

3. Rank order (with most important being #1) the top 3 attributes the target audience seeks regarding the product. Briefly describe these "salient attributes" which can be any related to gains desired and/or pains to be avoided that are part of the customer value proposition. Note whether any of these attributes have "cutoffs" (i.e., minimum and/or maximum levels of an attribute that a brand must possess to be considered by the target). 

 

4. Finally, describe the purchase decision process among the target audience. Specifically, answer the following: 

• What activates the target's need for this product?
• Is the "decision making unit" simple or complex? Complex DMUs, for example, will have multiple actors (e.g., deciders, payers, users) involved in the purchase of the product. Simple DMUs typically have one actor who plays all roles. Does the target evaluate alternatives prior to purchase (e.g., Are they brand loyalists, comparative shoppers, or a mix of both)?
• If not brand loyal, what 2-3 brands typically comprise the "consideration set" (i.e., the short list) of pre-purchase alternatives for this target? What 1-2 brands typically win the choice and why?
• How would you describe the level of "involvement" among the target audience as it pertains to such purchases? Would you say the target exhibits extended problem solving, mid-range problem solving, limited problem solving or habitual problem solving?

Please state your chosen market and customer segment.

Answer rating: 100% (QA)

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