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Flex Multicooker Target Profile

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A deep dive into the optimal target segment for an innovative small kitchen appliance. This is a portion of a 3-month long product development project presented in Fall 2008 at the VCU Brandcenter. …

A deep dive into the optimal target segment for an innovative small kitchen appliance. This is a portion of a 3-month long product development project presented in Fall 2008 at the VCU Brandcenter. The complete document (Product Development Flex Multicooker) walks through an integrated product launch campaign that spanned all facets of marketing, distribution, pricing, packaging and consumer strategy.

Published in: Business, Self Improvement

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  • 1. Flex Multicooker Target Profile T3 Blanton/Marbury/Steichen/Swaminathan
  • 2. Rosalyn Jane Carson Life comes at me fast, but it’s the way I like it. It has been a whirlwind since my time at the University of Georgia. Friends have moved every which way, but thank goodness for the Internet and my Blackberry that helps me stay in touch. After graduating, my first job was a dream come true.  I got my feet wet in Coca-Cola’s large corporate setting and set my focus on my career. I loved the constant on-the-go feeling with meals consisting of turkey wraps and coffee in the car. It’s amazing as to how quick things change… Currently, I live just outside Washington, D.C. with my husband Hank, and two daughters Isabel and Amanda. Having kids changed my lifestyle completely. They have been a great blessing yet the increase in tricky and sticky situations leaves me a little flustered at times. Especially when it comes to preparing complete meals.   I took some time off to care for my first child, Isabel, and in the meantime learned how to really cook a thing or two. Hank has never been so proud! My mom introduced me to a slow cooker and in a way it changed my life. Since I’m usually multi-tasking when I’m cooking, watching pots and pans on a stove required too much attention. With the cooker I could tend to my child or prepare a delicious garden salad at the same time without the worry of ruining a meal. Now that I am older and my girls have grown taller and more expensive, I decided to get back into the hustle and bustle of the workforce. These days time management is key when balancing the responsibilities of work, life and family.You could say the typical day usually consist of multiple team meetings, PTA projects, shuttling the girls home after soccer practice, and keeping up with my parents and brother Pete. And oh did I forget to mention feeding the dog, too? While I’m back at the everyday grind of work and have a scatterbrained, but highly demanding boss, I still love to make plans: get together with the neighbors, have family over, or go to a concert. In fact, my to-do list is already highlighted with weekend and holiday plans to be made. More times than not my social itinerary includes food, because who doesn’t love a good meal? Cooking has become one of my guilty pleasures especially now that time doesn’t come as freely as I wish it did. Because I enjoy making at least one full elaborate meal, I’m interested in quality kitchen gear that not only makes cooking easier, but also saves time. In fact, next week Auburn comes to town and you better believe my slow cooker will be turned on high and ready for the tailgate! Go Bulldogs!
  • 3. Segmentation Snapshot Geographic Behavioristic Psychographic Demographic Purchase Occasion Region Societal Division Age Holidays, Gift Registry, Eastern Half of United States Middle of the Road 28 - 52 Social Gatherings Population Density Benefits Sought Lifestyle Sex Urban - Suburban Convenience Achievers Female User Status Climate Personality Family Size Potential, First-time, or Regular Skewed to Southern climates Ambitious 3+ Users Usage Rate Family Life Cycle Monthly Average Married or Single w/ Children Loyalty Status Income Medium $75,000+ Readiness Stage Occupation Unaware or Interested Professional, Proprietor Marketing-Factor Sensitivity Education Quality & Price College Graduate Religion: Protestant
  • 4. Geographic
  • 5. Northeast West Midwest 18.2% 21.0% 24.2% South 36.6% % Moms Geographic Location 82.8 million Estimated number of mothers in US 59.3% Percentage of working mothers U.S. Census Bureau Simmons Fall 2006
  • 6. Behavioristic
  • 7. Behavioristic Financial & Purchase Decisions Like 85% of married moms, Rosalyn influences the financial decisions at home as well as buys the vast majority of all household items. Therefore, when Rosalyn is chatting with friends and family about shopping, food, household products, etc. it is important for our product to be intermingled into the conversation. © 2008 by Yankelovich, Inc. MediaPost April 21, 2008
  • 8. Behavioristic Shopping Behavior She is more likely to shop at Target (41% of the women shoppers have income of 100K+, 52% 75K+) than Wal-Mart. This important when thinking about distribution. Ease of checkout is important to her. Enough to where it determines where she shops. Yes, we are more likely to find Rosalyn shopping at Target, but if there is an alternative to get the essentials she is looking for elsewhere she will. Rosalyn prefers using trusted brands and is not easily swayed by private labels. Rosalyn likes the routine places she has on her radar for shopping and it takes a lot for change from that routine. Rosalyn is part of a lucrative market that is now being recognized by companies such as Home Depot, Dell, and Best Buy. Over the last 10 years, females who earn 100K+ has tripled. More and more are setting up electronics and doing home repairs. They are now being bombarded even more with messages, which they pay less attention to than other markets.
  • 9. Behavioristic Shopping Behavior Rosalyn likes to walk around, smell perfumes, touch clothes, and tryout cosmetics. Yet, she wants attention and direction. She likes to tell a sales associate what she is looking for and have them do the rest; showing her the various options and offering recommendations. Therefore, it is important for our product to have a positive relationship with the sales team at the distribution outlets. Rosalyn can be swayed by personal recommendation.
  • 10. Behavioristic Help Me! Rosalyn is more likely (56%) than not to forward a link to someone online, which is why people often ask her her opinion on new products. Among Moms Preference regarding products: Customer Reviews 79% or Known experts’ opinions 20% Preference regarding products when shopping: Ask friends and family their opinions 72% or Ask sales representatives their opinions 28% Preference regarding products when shopping: Research the product on my own 64% or Ask sales reps to tell me everything they know about a product 36% © 2008 by Yankelovich, Inc.
  • 11. Behavioristic Family Life Rosalyn is entertained by playing and doing activities with her kids.  She understands the essential role she plays in raising the family, and betters herself by reading magazines such as Parenting, Money, and Real Simple. Rosalyn enjoys watching age-appropriate programming with her children, providing opportunities for our company to create commercials or sponsor programs that appeal to kids and parents alike. These include, Nickelodeon, Disney and ABC Family.
  • 12. Behavioristic Routine Life as a working Mom keeps her short of a regular routine. Any type of routine is lead by the events that occur in her children’s lives. Whether its an unexpected PTA project or the chicken pox, she’s constantly shaping her routine to add stability to her children’s. Don’t misunderstand her though, she does methodical things over and over - laundry, dishes, chauffeuring to ballet class. But in the midst of that, Rosalyn’s putting out fires left and right, stopping her chores to put on an impromptu puppet show with the kids, and answering email and phone calls about who-knows-what.
  • 13. Behavioristic DIY Rosalyn’s a do-it-yourself kind of gal doing about 90% of the house maintenance, cleaning, car upkeep, cooking, laundry, shopping, budgeting, planning, etc.
  • 14. Behavioristic Family Trips Since the birth of her children, vacations have become high priority in life. While the kids were younger she only had to work around her husbands’ schedule for planning the family trip, but now that she’s back at work there are two schedules to balance.Vacations while the children are out of school consist of beach trips and visits to Grandma’s. Rosalyn appreciates this time with her kids and also the chance to unwind.
  • 15. Psychographic
  • 16. Psychographic Family Priorities Among children, spouse, or self, which is your first priority in life? Me My Children My Spouse 6%8% 86% Moms with oldest child <6 15%4% 81% Moms with oldest child 6-11 20% 7% 73% Moms with oldest child 12-17 © 2008 by Yankelovich, Inc.
  • 17. Psychographic Cooking Habits I show love for my 81% family by making sure they get home- cooked meals as often as possible 74% I put a lot of care and emotion into my cooking 52% Way of expressing yourself: Cooking from scratch © 2008 by Yankelovich, Inc.
  • 18. Psychographic Social Connections Combine Rosalyn’s need for community and connections with her insatiable appetite for information. Add in the need to solve very real lifestyle problems. Then throw in a generous dose of skepticism toward experts, sales personnel and business more generally. It’s no surprise the result is a veritable stew of networks that Rosalyn relies on when making many marketplace decisions. Rosalyn doesn’t just use networks; she often is the network. She spreads the news on products and information and receive emotional rewards in doing so.
  • 19. Psychographic Economic Time The economic times have brought mentionable size changes to the landscape of how people, and in our case moms, shop today. Certain superstores have thrived under these conditions as people go there to save money on food and electronics. More people are eating at home, which bolds well for the introduction of our product. Although highly anxious or cash strapped consumers are more difficult to connect with due to their more negative views about businesses and advertising, they still have wants, needs and desires. Rosalyn is no different. Reach her when her guard is down— usually while watching television—with a message that reinforces security, family and warmth.
  • 20. Psychographic Media Influence Leverage the power of television. Despite the perception that the effectiveness of advertising on television is declining due to the fragmented media marketplace, there isn’t a better medium to reach a highly anxious Rosalyn. By meeting her needs and gratifications, TV programming lessens Rosalyn’s annoyance toward advertising. Focus on the family. When feeling the pressures of an economic downturn, Rosalyn is more likely than the rest of the population to be comforted by images of warmth and family. Products, services and marketing must be tailored to meet her needs.
  • 21. Self-Aware Independent inspirational seeks consumer Innovator variety Rosalyn impulsive consumer Reliable self-expressive Optimistic take-charge savors the new Energized motivated social Experiencer