Research Your Target Market
Once you’ve picked your product, we recommend that you go to the Mintel database within the Shapiro Library. If you’ve picked the gourmet truffles, please open the Chocolate Confectionery report This link opens in a new window. If you’ve picked the “healthy” carob (chocolate substitute) bars, we recommend the Snack, Nutrition and Performance Bars report. This link opens in a new window If you’ve picked the semi-sweet chocolate chips, we recommend the Baking and Mixes report This link opens in a new window.
Look for the Excel Databook for that report and that will show you demographic data on who is buying products like yours.
Navigate to the Q1 by Demographics tab at the bottom of the Databook to see demographic categories like gender, age, generation, etc.
This shows you what types of similar products these various demographic groups are purchasing. Based on the information you see, pick a target market for your product. Please note that there isn’t one right answer regarding the target market you select. The goal is to make an educated guess as to who might buy your product based on the research you’ve done using these Mintel reports.
Develop a Persona
Now that you have your target market, go to the ESRI Tapestry Segmentation Reports to flesh out your persona with both demographic and psychographic data. Scroll down to the LifeMode groups and skim the information available to see which one fits best with your target market.
Each LifeMode group has 4-5 corresponding segments. Each segment is hyperlinked and will open to a full PDF report.
Unfortunately, there are no descriptions for the segments, so you may have to explore multiple PDFs to determine which segment is a good match for your target market.
Citing Your Sources
You will find sample citations for Mintel and ESRI in this FAQ: How do I cite business resources (like a SWOT, etc.) in APA Style? For additional assistance with citations, please contact our Academic Support team.
For Further Assistance
For questions about Mintel or ESRI, please contact the Reference Desk. For assistance with understanding the assignment, please reach out to your professor first. For additional rubric or writing support, book an appointment with a SNHU peer tutor.
Content authored by: GS