Target Market of Channel 1) Demographic is the statistics of the human population using variables such as age, income, education, religion ethnicity ECT. 2) Psychographic is the study of lifestyles, social class, and personality characteristics. 3) When I visited my channel target, Express, I saw women in their late twenties of different ethnicities dominating the store at the sale rakes with few men in sight. The men that where there where with a significant other. Customers where mostly browsing and had no bags in hand from other stores nor was there anyone at the checkout counters making purchases. The set up of the store catered more towards women, the more expensive merchandise in front with sale rakes in the middle of the store followed by accessories by check out with a smaller men’s section to the side. If one did not enter they would never know men’s apparel was sold there. This was odd to me being in an urban location downtown Los Angeles; Express demographics show a wide range of age, gender, ethnicities, and income level. Downtown LA is made up of a male dominated location, making up just over half its residents at 55.39% of the total population, women being the remainder 44.61%. The average age of these residents are twenty-five to thirty four followed by thirty-five to forty-four. There is a predominantly Hispanic or Latino race making up over 17,000 residents followed by Caucasians at just over 6,000. The average household size is three people with an income per member being $4,851.96. 4) The psychographics of an Express customer are Location 1) For a channel to succeed four location decision factors are considered; economic conditions, competition, the strategic fit, and the cost of operations. Stores need ... ... middle of paper ... ... both a mixed gender store caters more to female and has the male merchandise all the way in the back of the store. Work Sited: Armstrong, Gary, and Philip Kotler. Marketing: an introduction. 11th ed. Upper Saddle River, NJ: Pearson Prentice Hall, 2013. Print. Levy, Michael, Barton A. Weitz, and Dhruv Grewal. Retailing Management. ed. New York, NY: McGraw-Hill Education, 2014. Print. PRIZM > Market Segmentation Research, Tools, Market Segment Research, - Market Segments, Consumer Markets, Customer Segmentation Profiling (PRIZM > Market Segmentation Research, Tools, Market Segment Research, - Market Segments, Consumer Markets, Customer Segmentation Profiling) http://www.claritas.com/MyBestSegments/Default.jsp?ID=37&id1=1027&id2=65 90017 Zip Code Map & Detailed Profile (90017 Zip Code) http://zipatlas.com/us/ca/los-angeles/zip-90017.htm#income
Over the years, the American department store has developed and evolved as not only a commercial business but also a cultural institution. While it has weathered many storms and changes since its inception and throughout history, its most predominant enemy has been a change in the lifestyle of the American people (Whitaker, 2013). As the customer’s needs and wants have shifted, department stores have struggled to keep up with demands. It has been argued that the decline of the department store has been ongoing for the last 50 years (Whitaker, 2013). This dissertation aims to understand how the department store has historically played a role in consumer culture and spending, and additionally, how this has evolved and changed in today’s retail market. Although department stores may not be able to take all the credit for inventing modern shopping, they certainly made its conventions and conveniences commonplace. They set a new standard for the way the consumer should expect to be treated, the type of services that should be provided, and the convenience that should attend the process of acquiring the necessities and niceties of life all in one place. They made shopping into a leisure pastime. This environment meant shopping was a means of freedom to look around, pick up objects with no obligations to buy. As one historian remarked, department stores: “encouraged a perception of the building as a public place, where consumption itself was almost incidental to the delights of a sheltered promenade in a densely crowded, middle-class urban space” (Whitaker, 2006). Although this perception and view of the department store has changed over the years, this paper aims to follow the trail of how and why that happened.
Walmart is one of the well-known children’s toy store in the United States and so, I decided to visit the store nearby my house on Davis Street in San Leandro. The store was pretty clean and less busy during the day. This Walmart is vastly huge; perhaps the reason they placed large department and gender signs over the aisles so these would help shoppers easily locate and get the items they are looking for. As a matter of fact, these department signs (e.g. Baby and Toys) and gender signs (e.g. Girls and Boys) helped me find the toy department quickly.
As a result, they are able to cater to and target a larger demographic market. While their standard Nordstrom products provide a higher-end quality, focusing on upscale shoppers who are high class, Nordstrom Rack targets the middle-class, mid-scale shoppers who may not be able to afford Nordstrom products on a regular day. This price decision allows them to target a completely different market segment of customers who are typically younger and focus on value. Much of their target market is also the young millennial generation. Many other similar retail stores, like Macy’s or Sears, have difficulty attracting this market. Because millenials are younger, Nordstrom aims to build strong relationships with these individuals, as then they will continue shopping at Nordstrom as they get older, increasing the customer lifetime value. Through being able to target two major market segments, Nordstrom holds a competitive advantage over store like Target, who target one market of middle-class
Demographics play a large role in aiding businesses with the adequate information to convince the viewers. The main demographics include gender, age, culture, race, and location. These are just a few of the many areas that help researchers study human behaviors. The research provided by these studies can be very specific to a certain community, age group, or ethnicity. This benefits marketers in their approach to presenting products to the right viewers (Sessom).
Tremendous shopping centers, malls, even those little corner shops became an icon of American culture and its society. We are constantly manipulated by these so called convenient public places where escaping from it would be almost impossible. There are probably a 50% of chances that we will start our day with a cup of coffee in one, buy our afternoon lunch in the other one, or end up just walking around one. Shopping centers are everywhere; we cannot escape from it. Moreover, we do not want to escape from it as we are constantly underestimating the power and the real impact these places have on our society. Thus these places play a huge role in the process of socialization and are largely influencing the development of our society as a whole. In order to understand the way these places are emphasizing the gender differences and inequalities between the sexes, I decided to visit the local store Walmart and through an observation of its environment and its settings try to record its power of gendering. I was looking for a proof that gender is not merely an element of individual identity, but a socially constructed institutional phenomenon which is even imposed in our shopping centers and local stores.
Ron Johnson spent a great deal of time and money to promote his ideas of “stores-within-stores” by turning floor space into an area to house several branded boutiques. He did this in order to attract a target market of a wider demographic which includes age, gender, and generation. One of the m...
Every company and/or organization starts and operates to achieve a single major goal, which is normally included in the company’s mission statement. Setting a goal, however, does not translate into success on its own; it is only the fist step. Understanding market segmentation is the second most important aspect of doing business. “Sellers and advertisers want to be able to determine what the potential market is for their product or service, as well as the best ways to reach potential consumers” (Terrell, 2013). Once a goal is set, an organization first must decide if it wants to operate locally, regionally, nationally, and/or internationally, as the size of the geographic coverage has a large influence on demographic coverage. It is crucial for a business to understand what it is meant by demographic coverage; it is to understand people’s age, gender, culture, social norms and beliefs, and income in a given geographical size (Grewal & Levy, 2010). Let’s take a high class and luxury bar as an example to explain the importance of these key factors. If the bar is located in an area where the average age is 60, it will be safe to assume that the business will have difficulties finding many customers. Similarly, the business will not be able to survive if it is located in an area that has a lot of Mormon or Muslim residents as drinking alcoholic beverages is prohibited by these religious practices. On the other hand, if the said bar is located in an area such as San Francisco where the average age is around 38 years old, the median income is ~$70,000, and the culture is a melting pot of many races with many beliefs and behaviors, it will most likely thrive to its full potential (city-data.com, 201...
Aakar, D. A., Kumar, V., & Day, G. S. (2007). Marketing research (9th ed.). Danvers, MA: John Wiley & Sons.
Kotler, P. & Keller, K.L., (2009), A Framework for Marketing Management. 4th edition, Pearson Prentice Hall: USA
Armstrong G. & Kotler P. (2007) Marketing: An Introduction 8E Upper Saddle River, NJ Pearson Prentice Hall Publishers
Kotler, J., & Keller, K. (2012). A framework for marketing management. Essex: Pearson Education Ltd.
As part of my experiment with broaching normative gender images, I decided to visit the perfume counter at my local Sears and inquire about purchasing a bottle for myself instead of a woman. Although a minor interaction, I believed browsing for perfume was something generally associated with females alone. Sears, as a store, is something I have always associated with women myself. This belief is a direct result of a childhood where I was dragged around by my mother when she went shopping at the mall.
In today’s era retail domain is growing on a large scale. Lot of analytics are done in Retail Industry to enhance the revenue out of it . Retailing means selling merchandise in small proportions to the consumers for their end use. According to retailing, the individual reaches a nearby retail store and purchase products as per his need and pocket in small units for his own consumption.
Petty Ross D. Editor's Introduction: The What and Why of Marketing; American Business Journal, Vol. 36, 1999
Kotler, P., & Keller, K. (2012). Marketing management (14th ed., Global ed.). Boston, [Mass.: Pearson.