Analysis for the Marketing Department

Highlighting differences between postal code 60614 and the USA.

Abstract

A comparison is made of general, social and economic characteristics between USA and area 60614 and how the differences are likely to influence the advertising schemes. A market segmentation is then done and applied to the layout of a mall.

Introduction

The success of any business is dependent on making the right decisions. Decisions are not made on an arbitrary basis rather are supported by market research. Effective marketing is an important aspect of business success.

An organization cannot satisfy the needs of all of its customers and thus divides up the market into group of homogeneous customers. This is known as market segmentation.

The business then comes up with a product that it wants to sell to a particular segment. It is of utmost importance that the advertisement reflects the characteristic of that particular segment.

General characteristics

Under 5 years

18 years and over

65 years and over

0.00%

20.00%

40.00%

60.00%

80.00%

100.00%

Age distribution

zip 60614 USA

zip 6061

4

USA0.00%

20.00%

40.00%

60.00%

80.00%

100.00%

Gender distri-bution

FemaleMale

Source: http://www.factfinder.census.gov/

Economic Characteristics

Income comparison

zip 60614USA

56%

44%

labor force (16+)

zip 60614USA

Source: http://www.factfinder.census.gov/

Social Characteristics

zip 60614USA

0.00%

20.00%

40.00%

60.00%

80.00%

100.00%

120.00%

Lifecycle segments

Female, Now married, except separated (15 +)Male, Now married, except separated (15 +)

Source: http://www.factfinder.census.gov/

Application to scenario:

The development company wants to know which specific businesses the stores should be leased to in

the new 5-store strip mall (small businesses) in the 60614 community

The suggestions are based on statistical data:

1) clothing and apparel store for consumers between 18-34

2) Designer goods store including goods from known brands

3) electronic store selling luxurious items such as surround systems, digital cameras, iphones etc

4) sports shop targeting single men and women

5) shop selling cosmetics and other beauty products products such as body shop

Conclusion:

The differences highlighted between USA and area 60614 mean that advertisement campaigns need to be varied to reflect the market segment of this area. Advertisements schemes should place greater focus on age group 18-34, single men and women and finally on selling luxurious goods as the income level in this area is reportedly higher than the USA average.