Market Target and Segmentation

This paper discusses the market target and segmentation by Ann Inc., a famous store for women's fashion in America. The company targets affluent career-class women, offering fashionable outfits with good comfort levels. The needs and wants of this target market include clothes that cater to their daily workwear needs. PRIZM, a tool for market segmentation, is used to identify the demographic characteristics of the target market, highlighting the importance of customization in today's competitive market.

Running head: MARKET TARGET AND SEGMENTATION
mKT 113: FINAL PROJECT PART 1 MILESTONE TWO
[Document subtitle]

1
MARKET TARGET AND SEGMENTATION
Ann Inc. is a famous store for clothing and apparels in America for women fashion. Its
headquarters is in New York City and it offers various designs of accessories, style outfits,
dresses, shoes etc. It targets women of all ages to make accessible its product on a wider scale. In
this paper we will be discussing the Market segmentation by Ann Inc. and marketing tools to
address the need of customers. Furthermore, the demographic geographic and psychographic
attributes of the target market are discussed in this paper.
Target Market of Ann Inc.
Ann Taylor is store for clothing only for the female section of society. Most of the clothes which
the company offers are for the affluent career class of women. It supplies fashionable outfits in
relaxed category for both home and work. The price category for this company is limited to
upper class only. It deals in uniquely styled and high in comfort dresses, casuals and formal wear
which caters to a young and new crowd (Armstrong, et al., 2015).
Needs and Wants of Target Market
As discussed in the previous section, this company offers clothes with good comfort level. As the
company is catering to the needs of working class in female section, it provides the clothes with
fabrics that sits every skin type easily and do not cause any type of discomfort to the body as
women needs to wear these clothes every day to their office for long hours.
PRIZM- A Tool for Market Segmentation
PRIZM is an effective tool for segmenting market which share same characteristics like data
regarding demographic aspects (race, age, marital status and education level), and alao other
variables like behaviors, attitude and lifestyle. PRIZM stands for Potential Rating Index for Zip

2
MARKET TARGET AND SEGMENTATION
Markets in U.S. According to the market segmentation in Las Vegas, more of the working class
is present in the area as there are many organizations and work places over there. Also young
individuals of ages between 28-40 years are maximum. Marketers should approach the strategy
for young professionals and produce the goods for a salaried class (Wilkinson, F. (Ed.). 2013).
Also in Dearborn country, the products and outfits for the professional class must be offered as
the old aged class is less and working professionals are more in that area (Hollensen, S. 2015).
As the wants and preferences of the population is getting broader and wider, and the competition
in market is getting tougher, the marketers need to produce and offer services according to
customization.

3
MARKET TARGET AND SEGMENTATION
REFERENCES
Armstrong, G., & Kotler, P. (2015). Marketing: An introduction (12th ed.). Upper Saddle River,
Pearson Education, Inc.
Hollensen, S. (2015). Marketing management: A relationship approach. Pearson Education.
Wilkinson, F. (Ed.). (2013). The dynamics of labour market segmentation. Elsevier.