PLAN EXERCISE

ACTIVITY $5$: Define Consumer Markets for a Local Brewery

PLAN EXERCISE ACTIVITY $5$: Define Consumer Markets For those marketing products to consumers for through a channel that sells directly to consumers$),$ understanding the purchase decision process of the target market is an essential element of the marketing plan. This exercise includes the following activities: $1.$ Develop a demographic profile of the customer to include a$.$ Age b$.$ Income c$.$ Occupation d$.$ Education e$.$ Lifestyle $($activities$,$ interests, opinions$)2.$ Describe the motivation of the target consumer. Why is the consumer buying the product? $3.$ What external forces will influence the target consumer as he or she con$-$ siders the purchase? For example, will the consumer's culture or subculture affect the purchase decision? How? $4.$ Describe the consumer's typical consumer purchase decision process. What is the likely process a consumer will go through in making the decision to purchase the product? ACTIVITY $6$: Determine Business Market Relationships This exercise has four primary activities $1$ Conduct an analysis of your key market opportunities to assess the funda$-$ mental nature of these markets. This analysis should include a description of: a$.$ What are the key companies in this market? How much business do you do with the industry leaders? What share of their total business do you have? b$.$ Where are these companies located? $2.$ Identify the probable company structure and business center participants you would encounter in selling to your key B$2$B customer $3.$ Put together a probable buying decision process for key B$2$B customers and discuss your internal process in selling to these customers $4$ Develop a list of second$-$tier customers in key B$2$B markets that represent future potential customers