MKT 8035 WORKSHEET # 5 Target Market

TEAM # _________
SEC # ____________

LIST OF TEAM MEMBERS

Last Name, First Name and Student Number

1.
2.
3.
4.
5.
6.

GREAT GLOBAL MARKET SEGMENTATION PDF TO REVIEW BY TEAM MEMBERS

WITH SPECIFIC BRAND EXAMPLES for each component of Global Market
Segmentation

https://www.pearsoncanada.ca/media/highered-showcase/multi-product-
showcase/tuckwell-think-ch06.pdf

PRIZM SEGMENTATION (Canada)

https://downloads.esri.com/esri_content_doc/dbl/int/
canada_prizm/PRIZM_2020_Segments_with_maps.pdf

COMPLETED ‘TARGET MARKET SEGMENTATION’ Examples:

McDonalds
https://research-methodology.net/mcdonalds-segmentation-targeting-and-
positioning/

Starbucks
https://research-methodology.net/starbucks-segmentation-targeting-and-
positioning-targeting-premium-customers-with-quality-products-and-service/
Facebook
https://research-methodology.net/facebook-inc-segmentation-targeting-
positioning-targeting-the-widest-customer-segment/

STEP #1 COMPLETE AS A TEAM -- PRODUCT – MARKET PROFILE

BEFORE Completing WORKSHEET #5 - TARGET MARKET, as a group, you should answer these 9
Questions in order to better develop your PRODUCT – MARKET Profile. This information will help you
better define your target market and be able to describe in detail in your written GLOBAL MARKETING
REPORT.
PRODCUT – MARKET PROFILE
Product Name/Manufacturer Name: (input)
Product Category: (input)
Current Country: (input)
Launch Country: (input)

1. WHO BUYS YOUR PRODUCT?

(detailed specific description of your target segment/segments - not all people 18 -80)

2. WHO DOES NOT BUY YOUR PRODUCT? (again be specific)

3. What need or function does your product/service serve? (what is the benefit, value of your
product?)

4. Is there a market need that is not being met by current product/brand offerings in the market that
would compete with your product?

5. What problem does our product solve? (might be different in current country from that of launch
country)

6. What are customers buying currently to satisfy the need for which our product is targeted?

7. What price are they paying?

8. When is the product purchased? (when/how often)

The use of prescription eyewear is necessary when a person requires vision correction because poor
vision can make it challenging for people to carry out their daily activities. Prescription eyewear is
frequently purchased w hen a person's eyesight is increased, when their current eyewear is damaged or
unusable, or in other situations. People even purchase multiple styles of eyewear according to the
activities they engage in throughout the day to feel comfortable and confident.

9. Where is product typically purchased?

One can purchase eyewear on the lenskart website and then visit the nearby lenskart location. Both
physical and digital stores provide a seamless shopping experience.

TARGET MARKET PROFILE

Use the Target Market Profile Sheet to stimulate discussion among all group members. Some
categories may not be important valid, etc. Use n/a where applicable. Note: Most areas should
be filled in- this is to help you properly identify your Target Market.

NOTE: Typically, the TOP TWO Customer segments combined, generate about 80% of
overall sales. Keep that in mind as you define your Primary and Secondary customer
segments for your product. Remember, even though a 5-year-old may eat butter, or ice cream,
they are NOT part of your segments as they are not the customers who BUY your product!

DEMOGRAPHICS PRIMARY SEGMENT SECONDARY SEGMENT

Age
Gender

Ethnic background

Education

Occupation/job title

Income (range)

Marital status

Household status
(rent home, rent apt. own
home, etc.)
Household composition
(kids at home, grandparents
at home, empty nesters, other
dependents, etc.)

EXAMPLES: (for an Article – look at @APA for other formats)

Intext Citation:  (Authors's Last Name, Year of Publication, p.#)
Reference: Author, (Year,Month Day). Title of Article. Title of Magazine. 
    DOI or (Retrieved month day year, database name/URL

Intext- Citations:

References:

PSYCHOGRAPHICS PRIMARY SEGMENT SECONDARY SEGMENT

Lifestyles/Attitudes  New Age (uses stylish  Brand conscious

• Can be based on and trendy eyewear)  Internet savvy (buys
attitudes, income,  Health Nut (conscious product online)
occupation, music, on quality)  High income scale (buys
recreation, etc.  Low-income scale top brands)
• Reference Maslow’s (focuses on budget and  Older and mature
triangle self-concepts quality) suburban
• Some examples:
• Health nut
• Affluent
• “Tree hugger”
• Goth
• New Age
• Idealistic
• Value safety first
• Brand-conscious
Activities  Reading Prescription eyewear is used by
• Some examples:  Writing a person with irrespective of the
• Running  Driving activity or sport they do.
• Hiking  Sailing
• Travelling  Hiking
• Sailing
• Other
Opinions
(strong opinions on)
 Some examples:
o Politics
o Environment
o Social issues
 o Other
Interests
• Some examples:
• Music
• TV shows
• Movies
• Radio stations
• Internet sites
• Hobbies

Intext- Citations:

References:

GEOGRAPHICS PRIMARY SEGMENT SECONDARY SEGMENT

Country

Province/State/Region
Urban/Suburban/Rural

Neighbourhood
(e.g. newly gentrified
area, old established
affluent neighbourhood,
etc.)

Intext- Citations:
References:

BEHAVIOUR RESPONSE PRIMARY SEGMENT SECONDARY SEGMENT

Occasion for Use

Benefits Sought

Usage Rate

Degree of Loyalty

Intext- Citations:

References: