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Unisex Fashion Accessories
Target: Hispanic Teen Aged 13-19 years, Female
Hispanic teens are of special interest to marketers as they consist of a large part of the emerging US youth population. According to Hispanicad.com, Hispanic teen market has a spending power of $20 billion and a projected growth rate six times higher than the rest of the teen market. To target this segment we need to understand correctly the multicultural markets, celebrating distinct cultures for targeted products, services and communications. With teens the trend is toward ‘intraculturalism’- the combining, sharing, and recreating of multiple ethnic identity influences.
We target this segment to advertise our product which is a new teenage unisex fashion accessory. We target the Hispanic teens because they have a high degree of affiliation for fashion items and are found to be very fashion conscious. Further this target group has brought about the concept of “interculturalism” among American youths. This implies that they can adopt and adapt to different aspects of cultures into their identity.
For instance, a young girl of Hispanic descent may combine hip-hop fashion with Mehndi-stained hands when she goes out dancing to her favorite Reggaeton artists. The next morning she sits down with her grandmother to watch a daily soap before logging onto MySpace.com to catch up on her diverse network of friends.
Hispanic teens, a demographic that is growing six times faster than other market segments and, by 2020, will account for 24% of the population aged five to 19 years. They currently control $20 billion in spending power and influence over $200 billion in household spending.
The media that we adopt to advertise our product to the Hispanic teens are: teen fashion magazines, television, internet, radio.
We choose the following media for advertisement of our products. This is so because Hispanic girls are a major reader of fashion magazines. Magazines appeal to Teens, with eight out of ten Teens reading magazines. That translates into 19.3 million readers today who strongly influence fashion and purchasing trends for the rest of society. In addition, more Teens trust magazine advertising than advertising in other media, and they do not tend to spend time with other media when reading magazines. They are a voracious readers of teen magazines especially fashion magazines. Hispanic teen girls trust magazine advertising the most.
Further prime time television ads attract 22% of Hispanic teens in America. So we choose it to be our second option of media outlet. Radio ads too have a share of 22% teen affiliation. So both these mediums are a lucrative way of attracting Hispanic teen girls to use our products. Further internet is used by 18% of the target group. This shows that advertisements through internet in forms of direct mails or instant pop ups will be a lucrative method of media outlet.
Health Drinks
Target: 23-30 year old, female, Asian, married, 1 child, $75,000 income, healthy lifestyle
Asian-Americans are considered a “model minority” (Cohen 1992; Delener and Neelankavil 1990) whose premium demographic profile (Fisher 1994) – affluence, high education, and managerial/professional occupations – and rapid growth in number make them an attractive market. The number of Asian-Americans in the U.S. population is predicted to jump from a current 9.4 million (3.6% of the total) to 16 million (6%) in 2010 and to 20 million (8%) in 2020 (Bureau of the Census 1996). This market has a purchasing power of $125 billion. Further, Asian-Americans have a median household income of $44,460 a year, 19% more than the national average, which includes white as well as minority households. This target group is a small part of the Asian community in America, but the target group has a huge potential for products like health drink for children. As Asian females are the decision makers in the house regarding what kind of feed items will be bought for their families they need to be targeted for selling health drinks. We target to sell health drinks to the Asian females aged between 23-30 years with single child. Research shows that they are more concerned about their child’s health and will be the right target for health drinks. Further due to their society being more interdependent they are more concerned about their families and tend to spend more for their families.
The media outlet that we choose for this group of target customers is television, newspapers, magazines, direct door-to-door promotion, and internet. In order of preference the media outlets gains prominence as internet, newspaper, door-to-door promotion, magazines, and television. This is so because research shows that Asian Americans spend 50% more time on internet than average Americans and 9% more time in reading newspaper than average. They spend 10% less time in watching television and 15% less time in reading magazines.
The Asian mothers of one child are viewers of televisions and rely a lot on television advertisements to make decisions regarding their purchase of daily necessities. They are regular viewers of prime time programs and the ads should be aired during these programs. Asian women read a lot of women’s magazines and rely on the ads that come in the magazines. Direct promotion is a good option for health drinks as they provide an opportunity for the target customers to taste the product which is very important for Asian mothers. Though internet is not a very used medium for Asian housewife, recent study shows that this media is catching up with the target groups.
Luxury Retirement Resorts
Target: 55-65 year old, retired, $200,000 annual income, enjoys traveling
With an aging American population this segment will form a major part of the American population. The target group are retired Americans who have a good financial backing and are willing to go ahead to stay in lush style during their retirement years. This is so because this generation belongs to the baby boomers. Baby boomers have the following characteristics. This cohort began life in an idyllic Father Knows Best conformity in the 1950s and came of age in the 1960s rebelling against the world that their earlier generations had built for them. This generation is often associated with an outspoken idealism and a somewhat self-absorbed “Me Generation” attitude. Primarily in their late 40s through early 60s, this generation is the largest generational group in the workforce. Boomers are competitive, value expertise, and believe in paying their dues. However, Boomers also retain 1960s-era idealism and daydream about leaving the corporate world in search of more meaningful, spiritually fulfilling work, as mentioned above. Two decades ago, Baby Boomers expected to live the good life, and were willing to work long hours to attain it. As Boomers have matured, their focus has shifted to more quality time with family and an interest in experiences rather than material goods. This generation continues to define itself by its youth. Retirement has become a way to combine new interests with a continued paycheck.
This generation needs to be approached through mediums like the newspapers, televisions, radio, billboards, and magazines. They being a materialistic generation have their interest in watching news in the television. So the advertisement for this product ahs to be done during such news programs, or through news channels. Newspapers are a daily requirement for this generation. So advertisements in newspapers are inevitable. Further, the degree of trust on newspaper ads is more than on any other medium. Baby boomers have a traditional loyalty to mediums like televisions, newspapers and radio. The use of satellite radio is gaining popularity with the baby boomers and they are a new target for marketers to advertise their products but traditional radio continue to hold interest among Boomers. So cohesive marketing needs to be used to target this group of customers. So the programming content needs to be simple and representative of the facilities that are available to capture this audience.
Reference
Teen Market Profile, Magazine Publishers of America, Web.
Jupiter Research, Pew Internet and American Life Project, Global reach and Knowledge Networks, Web.
The Baby Boomer Media Consumption Study – 2007, the Mature Market. Web.
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