6.1 Who Is the Target Customer?

1.

Trend analysts Chris Sanderson and Martin Raymond from the London firm The Future Laboratory say the business of trend analysis is no fortune-telling business.

“We live in uncertain times, but one thing about the future is certain: the business of trend analysis is all about the research of data, its correct interpretation, and to some extent, about intuition.”

View this short video on trend research methodology:

Address what you believe contributes to feelings of consumer uncertainty. Discuss how fashion marketers strategize to overcome the challenges posed by uncertainty.

Be certain to discuss:

how customers have changed using customer segmentation criteria—demographically, geographically, psychographically, and lifestyle and behaviorally

the role of market research and marketing research as a strategy for meeting the challenge posed by uncertainty

Post your comments in this topic.

• Here is a link to the webpage and channel for additional information…
• https://www.thefuturelaboratory.com/

and

https://www.youtube.com/c/TheFutureLaboratory

I’d like to encourage everyone to at least visit the website and check out the free content 🙂

2.

In this module, you examined the process that brands follow to segment the general population, and then target one or more specific customer segments.

In this assignment, you will conduct research to discover the main customer segment that is targeted by your selected brand. You will create a target customer profile to describe this customer, using segmentation criteria described in the module.

Remember that your target customer profile must be based on the research you conducted, not based on your personal experience (such as “my friend shops there” or “I buy from the brand”). Conduct research, as described in the module, and make sure that the target segment profile you create represents an actual, viable customer segment.

Create a visual presentation, using visual presentation software, including the following information:

Target Customer Profile:

target customer demographics: Describe the target customer’s age range, gender, educational level, lifestage, income level, occupation or employment, marital status.

target customer geographics: What are the typical locations in which the customer lives? What are the factors in this location that impact the customer’s buying behavior (weather, commuting, etc.)?

target customer psychographics: Describe customer attitudes, and lifestyle behaviors and preferences. What media do they follow?

target customer behaviors and usage: Describe the customers’ shopping behavior for your brand’s category. Do they shop in-store or online? What times of the year do they shop? What are they looking for? Remember to describe behavior in reference to the products sold by your selected brand.

Other than this course target customer group, what other customer segments can be potentially attractive to the brand? Who are they and why do they represent an attractive segment?