Entrepreneurship - Target Market Worksheet

Target Market Worksheet Part 1: Description of Target Market Write a 250-500-word description of your target customer (i.e., your customer persona). Describe the key demographics of your target market, including customer description, location, behaviors, psychological profile, and other population attributes. Business and frequent travelers during layover time, specifically in the ATL International Airport ATL hosts 75.7 million passengers per year, 20% (15.14 million) being business travelers.     40% Stick to fitness routine while on business trips 54% agree that travel interrupts exercise habits 77% men aged 30-49 75% experience high stress during travel Part 2: Table Consider how you would expand into other markets. These may include other demographic groups, other regions, other countries, etc. Then, select a second and third target market to focus on. Customers in alternative markets will likely have similar attributes to the initial target market with some major differences. Complete the table below comparing similarities and differences between the primary, secondary, and tertiary target markets. Segmentation Basis Demographic Segmentation Attributes Tertiary Target Market 50+ 30-49 Gender Male Male & female male College bachelor’s degree College bachelor’s degree $53,000 annually college bachelor’s degree $75,000 annually Income Family Status Other Demographic Attributes Country Region Environment (Rural/Urban) Other Geographic Attributes Psychographic Secondary Target Market 20-29 Age Education Geography Primary Target Market Persona Description Social environment Personality Lifestyle Lifestyle Changes $84,624 annually any any any Prioritize personal health and company prioritizes employee health Prioritize personal health and company prioritizes employee health Prioritize personal health and company prioritizes employee health United States United States ATL (with emphasis on expanding) International Airports (Urban) Major International Airports ATL (with emphasis on expanding) International Airports (Urban) Major International Airports United States (with emphasis on expanding) ATL (with emphasis on expanding) International Airports (Urban) Major International Airports Gym Gym Gym Go getter, proactive Anxious, hard working Busy, stressful Anxious, focused, proactive Fast paced, active, busy Stress releasing, consistent fitness Active, fast paced Stress releasing, increased/maintain health 2 Stress releasing, increase health Segmentation Basis Segmentation Attributes Other Psychographic Attributes Primary Target Market Persona Description Purchase Drivers Purchasing Behavior Other Behavioral Attributes Tertiary Target Market Maintain health/ get the most out of waiting time/ release stress Maintain physical activity and health Mental stress Increase mental sharpness and physical health determined Sharp/ quick minded Maintain health/ get the most out of waiting time/ release stress Behavioral Secondary Target Market schedule Sharp/ quick minded Increased physical activity and health Mental and physical stress Increase physical and mental health Mental and physical stress Part 3: Graphic Design and create a one-page graphic (advertisement, brochure, or flyer) about your product or service created in the Topic 3 assignment to appeal to customers. The goal is to generate customer awareness and interest in your product or service. You may paste it in this worksheet or attach it as a separate document. Part 4: User Journey Map This portion of the assignment is to document the process by which a customer engages with your business, purchases, and utilizes your product or service. You may refer to the topic Resources for more information about journey maps. Create a journey map of how your customer interacts with your business to purchase and use your product or service. This should be submitted as a bulleted list of all steps in the purchase and use processes. Be sure to include the entire process (i.e., every step the customer takes from first considering purchase [location, product, etc.] until product is used or service delivery is completed). 3 Customer and/or employment company realizes 1. time spent on layovers during business travel is ineffectively used 2. mental/ physical health is decreased during frequent travel Company considers ways to keep their employees healthy and make the most of their time during layovers. Company buys yearly memberships for company travelers at the ATL International Airport to allow travelers to workout during layovers. 4 Business travelers utilize gym at ATL during layovers and release travel stress while maximizing productivity and physical/mental health. Company’s yearly membership expires, and company renews membership for another year so their employees can continue getting benefits from the gym.