consumer behavior research of minorities groups sponsored by target(master-slides)
TRANSCRIPT
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By: Cindy Collazo, Priscila Parra, Erica Chiu,
Azra Radoncic, Matthew Costanzo, Jay Sosa
Target Presentation:
Phase A
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Trends affecting overall retail Industry &
Consumer Behavior
Technology
Consumer Spending
Sustainability
Private Labels
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Trends affecting Latino Segment & their
Consumer Behavior
• Heavily shoppers via mobile device
• Inclined to try new products/trend
followers
• Share trends via Social networks
• Enjoy shopping experience with their
children
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Consumer Behavior Perceptions
on Latino Segment
• Need-base shopper
• Looks for product quality, price &
promotion
• Receptive to advertisement
• More product variety
• Seek value for money
• Store layout is imperative
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Trends affecting Asian Segment &
their Consumer Behavior• Rising interest in multichannel shopping:
Online / Movie
• Increase interests in coupons: Online and booklets
• Greater preference for cultural sensitivity in products
• More sensible luxury brands
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Consumer Behavior Perceptions Asian
Segment
• Poor organization of store layout
• Most products are affordable & good
quality
• Not enough variety in brands
• Positive: Locational convenience
• Good for shopping on a need basis
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Trends affecting African-American
Segment & their Consumer Behavior
• Profound family value and ethnic tradition
• Limited amount of direct targeting media
• Barack Obama becoming president is a trend in the market place
• Education and professional achievements has increase their income
• Women are more likely to try new trends
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Consumer Behavior Perceptions African
American Segment
• Feel like advertising is NOT directly targeted to
them
• Consumes more media than any other group: TV,
mobile, magazines
• Approves stores layout, though not satisfy with
service
• Recognizes affordable low prices
• Cherishes scents and flavors
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Current Media for Target
• “Expect More, Pay Less”
• Target weekly circular is distributed to
over 50 million households each week
• Traditional print media and broadcast
commercials
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Current Positioning for Target
• For middle-income customers, target
provides a fun shopping experience
because it creates a more upscale
atmosphere for customers.
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Current Media for Wal-Mart
• Save Money, Live Better
• Wal-Mart can charge lower prices because it is more
efficient. It buys goods less expensive from producers,
requiring to cut costs.
• Wal-Mart stores sends out 13 circulars per year,
compared with 53 or more for their competitors.
• Wal-Mart's main advertising medium is television.
Totaling $524 million on TV advertisements.
• Price-sensitive merchandise is displayed in prominent
places such as kiosks at entrances, as well as on end caps,
in dump bins, and down main aisles.
• Wal-Mart is committed to providing low prices every day,
on everything. Price match!
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Current Positioning for Wal-Mart
• For middle aged cost-conscious
customers, Wal-Mart provides the best
value for your money because they focus
on low prices.
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Current Media for Costco
• Costco has no slogan
• Famous for turning the experience of warehouse
shopping into an adventure.
• The company never advertises, charges 64 million
members to shop there and doesn’t mark up any product
more than 15 percent.
• It’s a business model that works, generating $93 billion in
annual sales.
• What it does do is effectively targeting small-business
owners as its primary target audience.
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Current Positioning for Costco
• For middle to upper-income customers,
Costco provides saving customers time
and money because they have bulk items
and branded merchandise at wholesale
prices
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The End
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APPENDIX
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Overall Multi-Cultural Strengths
• Mainstream Product Variety
• Affordable to multi-cultural segments
• High Availability
• Strong marketing Initiatives
• Positive customer perception
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Overall Multi-Cultural Weaknesses
• Difficult for multi-cultural segments to find certain products/targets American culture
• Majority of their advertisements are geared towards women
• Geographical concentration
• Prices are not as low as Wal-Mart’s
• Poor customer service
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Overall Multi-Cultural Opportunities
• Global Expansion
• Communicate where their products are more effective to the multi-cultural segment.
• Comparable shopping
• More private labels
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Overall Multi-Cultural Threats
• Top competitors: Wal-Mart & Kmart
• US economy slow down
• Costs of overhead increasing while trying to keep prices
low
• Increased minimum wages in the US
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The End