Understanding Target Markets FOR KIMWOODS ONLY

 
Purpose of Assignment 
To develop effective relationship marketing, a company must first understand its targeted consumers’ buying influences and behaviors. This week’s assignment is the first part of the development of a marketing plan. It provides the foundation of the marketing plan and introduces the student to a variety of diagrammatic tools for understanding a business. 
Assignment Steps 
To develop effective relationship marketing, a company must first understand its targeted consumers’ buying influences and behaviors.  
Create the research section of your marketing plan in minimum of 700 words.

Week Two Individual Paper Format

1 – Use your  Week One researched Company and select/describe a Product or Service

Restate the Company and the selected Product?Service Line

2 – Develop a profile of the demographics of your target market (see document posted in the Classroom Message Area – one target market is your domestic market, one additional target market is your selected foreign target market))

a – Domestic

Your findings 

b – Foreign Market 

Your findings 

3 – Identify your desired geographical area (one domestic and one foreign)

a – Brief Domestic Market Description of 10 Economic Factor and 5 Population Factors

b – Brief Foreign Market Description of 10 Economic Factor and 5 Population Factors

4  – Using the Bureau of the Census data, how many people with your demographic profile live in your selected U.S. geographical area? 

a – Your findings for the domestic market

b – Using other foreign research data, compute how many people with your demographic profile live in your selected foreign geographical area

Your findings for the foreign market

5 – Using Nielsen Claritas, provide a description of the Psychographics for the demographic profile you selected in your geographical area in the U.S; using secondary research, describe the psychographic of your foreign target market.

a – Your findings for the domestic market

b – Your findings for the foreign market

6 – Explain the insights you have gained from your inspection and analysis of the demographic and psychographic information you have found.   What differences have you noted between your domestic and foreign target markets?

Please, make sure that your paper contains 6 Titled and numbered Sections to reflect the assignment titles and numbers as they are listed above.
Please, retain the a and b sub-sections for each titled section. 
Not properly formatted papers will need to be formatted in six titled sections.

By completing items 1 to 5, you will have conducted:  secondary research, establish a customer profile and conduct a consumer analysis.

This assignment will be incorporated into your overall marketing plan for Week 6.

Cite a minimum of three peer-reviewed references.
Format your assignment consistent with APA guidelines.