MKT113 Introduction to Marketing Assignment

Added on - 20 Sep 2019

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1MARKET TARGET AND SEGMENTATIONAnn Inc. is a famous store for clothing and apparels in America for women fashion. Itsheadquarters 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. Inthis paper we will be discussing the Market segmentation by Ann Inc. and marketing tools toaddress the need of customers. Furthermore, the demographic geographic and psychographicattributes 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 whichthe company offers are for the affluent career class of women. It supplies fashionable outfits inrelaxed category for both home and work. The price category for this company is limited toupper class only. It deals in uniquely styled and high in comfort dresses, casuals and formal wearwhich caters to a young and new crowd (Armstrong, et al., 2015).Needs and Wants of Target MarketAs discussed in the previous section, this company offers clothes with good comfort level. As thecompany is catering to the needs of working class in female section, it provides the clothes withfabrics that sits every skin type easily and do not cause any type of discomfort to the body aswomen needs to wear these clothes every day to their office for long hours.PRIZM- A Tool for Market SegmentationPRIZM is an effective tool for segmenting market which share same characteristics like dataregarding demographic aspects (race, age, marital status and education level), and alao othervariables like behaviors, attitude and lifestyle. PRIZM stands for Potential Rating Index for Zip
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