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Question Completion Status: Lunch Bag Mid-Term Exam As an emerging marketing genius, you have been hired as a marketer for a new brand of reusable, insulated lunch bag. Your company has a team of engineers and a factory that is ready to start production. They need you to finalize the target market and the product. Use of two distinct target markets has been proposed 1. Consider the Business Environment for any company trying to market Reusable, fashionable bags. Discuss the potential impacts of: Political/Legal trends, Social/Cultural trends, and Competitive trends. (7 marks) 2. Describe the decision process for a reusable, insulated bag? You must include each step in the decision process with practical application to this situation. It is critical that you identify the key spots for the company to influence the decision process. (8 marks) 3. Consider the Young Professionals Profile below as the target market for the new bag. Young Professionals: 25-40 years old Female (male - secondary) with a variety of occupations - middle to upper class social status Urban/suburban dwellers - living in urban rentals and owned condos and suburban owned homes valued at $500,000+ The intended users are described as fashion conscience trend setters, adventurous, social, environmentally conscientious and early adaptors Product usage :daily What are two advantages and two disadvantages of this group as a target market? (4 marks) 4. Provide a different target market profile that you would suggest as the target market for the new reusable, insulated lunch bag. (6 marks) 5. Consider the two target markets (Young Professionals and the target you suggested above) and describe how the "Product" would be different for each target market and their wantseeds. Be sure to discuss: (10 marks) How the product will look (for each target market) - Core/actual/augmented product benefits. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). . .. B U S Paragraph Arial 10pt EV