MKT205_Module_Two_Milestone

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Feb 20, 2024

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1 Module Two Milestone Worksheet: Target Market and Persona Marcus Romo Southern New Hampshire University MKT 205: Applied Marketing Strategies John Mullin January 14, 2024

2 TARGET MARKET PRODUCT “healthy” carob (chocolate substitute) bars TARGET MARKET RESEARCH My target market is: Parent with children under 55 years DEMOGRAPHIC CHARACTERISTICS a slight male skew, is under age 55, tends to live in a medium-high income household and is likely to be a parent with children in the household PSYCHOGRAPHIC CHARACTERISTICS Urban consumers are more likely than suburban and rural consumers to be bar purchasers, though greater insight is found in how urban consumers purchase bars. Parents are long-term staple targets of the bar category, and their engagement has only intensified through the pandemic timeframe. Among the audience, fathers show greater involvement than mothers, as well as stronger growth in purchases from 2019-22. 62% of Gen Z consumers purchase snack bars, representing a significant generational overindex. This generation is likely in the midst of establishing their independent shopping and eating habits and routines, making them a highly important audience to win. However, their frequent and diverse snacking habits also mean there is steep competition from the snack market at large While the bars category consumer base tends to live in medium-high income households, the nutritional bars segment reaches the highest income brackets: consumers from households that earn $100K+ overindex in purchasing nutritional bars, and those from households earning $150K+ show even greater engagement. While snack bars still remain the

3 most commonly purchased segment among households making $100K+, the group underindexes in the segment as compared to the population at large.

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4 PERSONA JOHN SMITH, 35 DEMOGRAPHICS LOCATION The ideal market for this product is the urban area with the product dropping in popularity in the suburban area. MARITAL STATUS The target market are fathers under the age of 55 with children living at home. OCCUPATION AND INCOME While the bars category consumer base tends to live in medium-high income households, the nutritional bars segment reaches the highest income brackets: consumers from households that earn $100K plus. EDUCATION LEVEL The product does not have an education level it is more focused on income which may go hand on hand with income level. PSYCHOGRAPHICS HOBBIES AND INTERESTS Interest include family and healthy choice.

5 WANTS AND PREFERENCES The target market is a father who is interested about his health choices PERSONAL AND PROFESSIONAL GOALS They have an active lifestyle in a fast paced environment and need the energy to keep up. SHOPPING HABITS AND PREFERENCES The target consumer is busy with work and family life that prefer a healthy choice regardless of price. LIFESTYLE The target consumer are busy fathers who want a healthy choices for themselves and their children.

6 REFERENCES Olson, Sydney. (2022). Snack, Nutrition and Performance Bars - US. https://reports-mintel- com.ezproxy.snhu.edu/display/1099393/# Tanner, J., & Raymond, M. A. (2023). Applied marketing strategies (2nd ed.). Soomo Learning. https://www.webtexts.com

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