MKT $8035-$ WINTER $2024$

WORKSHEET #$5$ TARGET MARKET ANALYSIS

Group # $\_\_\_\_\_\_\_\_\_$

Country $\_\_\_\_\_\_\_\_\_\_\_\_$

This worksheet will help you determine who your target market and target customer could be for your product$/$service in your country.

You need to provide rationale for your answers about your target market. This information will be used as the basis for the remainder of your marketing project. Your market should be the people who you expect will buy the product, use the service, etc. This will be the market you will advertise and promote to and set your prices for in the coming worksheets.

$1.)$

Fill in all areas of the following tables with consumer information for your country:

Demographics

Age Breakdown by Percent Breakdown by Population

$20-35$

$35-50$

$50-65$

$65$ plus

Average Household Income Range $($Monetary$)/$Year Number of people within each income level

Low

Medium

High

$$ Income should be in country $$,$ but show exchange rate to Canadian $

Education Level Percent of population

Elementary

Secondary

University and Higher

Geography

Rural Name Towns$/$Areas Population

Geography

Urban Name Major Cities Population

Psychographics

Values

Attitudes

Activities

Opinions

Lifestyle

$2.)$

Give a brief description of what you have learned about these behaviors of people in the country.

Buyer Behaviors

Cultural

Emotions

Risk Level

Indulgence

Brand Loyalty

$3.)$

Describe typical individual and societal influences on Purchasing Decisions in your selected Country.

$4.)$

Based on what you have just discovered about consumers in your selected country, compile a profile of TWO target market consumer groups for your business in your country.

Describe each of the two $(2)$ target markets using market segment information that you have discovered from your research. One will be your first choice for attracting customers, the other will be your second.

Example:

Target Market #$1$

People living in major cities $($Moscow$),$ age $20$ to $35,$ with annual disposable income of $$20,000,$ university education, with active lifestyles, that care about the environment.

References

You should have $15$ references to support the information above. APA reference format is expected as always.

RESEARCH FOR FINAL PRESENTATION

Answer the following questions and outline your thought processes. Make sure your answers can provide discussion points for your final presentation.

$1.$ As a group, why do you feel these are your target markets?