Please choose WALMART for this assignment and determine your target segment. Briefly introduce with just one sentence. (e.g., “I am developing a customer insights report for the Butler County YMCA, with a focus on the retired/senior citizen and cardiac rehab segments.” Whatever…)
Then, answer the following questions in a ONE-PAGE discussion (You don’t have to write the second page. The charge for the second page is meant for your reading time):
- Drawing from Modules 3 and 4 content (Chapter 7-11), please continue your analysis of your chosen segment or segments by suggesting what goals and underlying motives drive the behavior of your target segment(s).
- What emotional factors are likely to shape the behavior of your target segment? What role does learning play?
- How can beliefs and attitudes of your target segment(s) be influenced?
- What type of information processing and decision-making are characteristic of your target segment(s)?
This is part of a long term project. Please do your best as I would choose you for the next parts.
I am developing Wal-Mart customers’ buying behavior reports in Butler County, Ohio, focusing on shoppers aged between 25-44.
The buying behavior process starts with the need identification, which compels shoppers to look for information concerning the needed products and get them at competitive prices. After that, they would evaluate the available options before making a purchase decision. In Wal-Mart, the principal target customers are aged between 25 and 44 years, as this represents the majority of groups who tend to visit the chain store frequently. The company operates in an oligopolistic market structure, with the significant characters being few suppliers in the industry. The primary underlying motives for targeting this market segment include the willingness to shop online or visit the store to order goods. Moreover, this age group features most working-class people who would like to be associated with recognized chain stores that can offer value for their money.
People shop based on their emotional factors. Even if gender and age contribute to these determinants of buying, one’s mood and ability to spend remain the key determinants that make Wal-Mart target a specific age range. In particular, young adults can prefer to go for a shopping spree in places where they can find all the needed goods. Moreover, the working class wants to ensure that they do major shopping once they earn, resulting in a trend in which most shoppers are people aged between 25 and 44. Notably, young adults want to be associated with significant and established companies with a global brand name. Such people can even visit the chain stores for window shopping or check the available products online, resulting in impulse buying. Wal-Mart’s management must consistently consider targeting such market segments to capture their emotional needs and optimize sales and thus profits. Learning plays a significant role in drawing one’s emotions towards shopping or remaining loyal to a particular company. Notably, Wal-Mart’s management has ensured that customer satisfaction is critical, increasing the moods to buy or make regular visits to the facility.
Wal-Mart can influence the target market’s beliefs and attitudes to encourage more purchases. Customers always want value for their money, and once the company has enabled them to attain that goal, they can become loyal, thus expanding its sales base. Customers opt to consider several companies that offer the needed goods or services during the buying decision-making process. If Wal-Mart cannot be an outstanding firm in these aspects, the enterprise cannot gain more customers. That’s why the administration has made customer satisfaction and averagely cheap products a priority, as it targets to retain and increase its market base.
Consumers undergo different types of information processing before they consider buying a particular product. The key types of information processing and decision making exhibited in the target audience include attention, comprehension, and acceptance. Notably, the attention variable is based on the assertion that the need identification arouses the customer’s focus to consider starting the buying process. After that, they would have to study the market and comprehend it before considering a particular company or goods. At this stage, the consumer enters a decision making phase in which they have to determine the best firm to buy its products. Wal-Mart understands this strategy, and that’s why it offers high-quality goods at competitive prices and ensures efficiency in delivering orders.
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