You must have a minimum of TWO segments for Yoga.Fit

Your analysis should include:

1. A narrative description of each of the segments. You are required to give each a name. For example, if I were segmenting older consumers for a pet product I might have "Empty Nesters" or "Little Old Lady Cat Lovers". This narrative is usually a oneparagraph summary of the segment’s profile.

2. How you are segmenting the groups (demographics, psychographic, geographic or other criteria) including the characteristics of your target segments. Be VERY specific and use no less than four demographic and four psychographic variables for each of your segments.

You may use any combination of text, charts and graphs you wish to accomplish parts 1 and 2. However, be sure that it is clear what, and who, comprise your segments.

NOTE: Segmentation is discussed extensively in Module 4. Do NOT attempt this assignment until you have completed all of Module 4.

Segmentation example

NOTE: This example is written for a product called Staycation.com. It is an online vacation planner for consumers taking their vacations at home. This is a common phenomenon in the current economy.

You are required to have TWO segments. This example has four. The chart is only an example – you may set yours up differently.

Childless Couples (Young Adventurers)

The Young Adventurers group is comprised of young adult couples who are mostly just starting out on their own. Young couples are typically known to have financial hardships (even without children) for various reasons. These reasons might include young people being typically employed in entry-level positions with corresponding salaries. On top of this, some may have bills and debt from various sources such as vehicles and student loans. They may neither possess the finances nor the large amounts of vacation time from their jobs to take a conventional vacation.

Demographics for Young Adventurers Age:
Relationship status:
Professional Status:

Children: Income Level: Education:

19-30
Living together or newlyweds
Entry-level professional work
None
Entry to mid-level income
College or advanced technical/trade school

Psychographics for Young Adventurers
Entertainment and socially oriented (restaurants, bars, clubs and activities and important) Money Conscious (on a budget)
Adventure Seeking
Tree-Huggers (Environmentally conscious)

Single Parents (Jugglers)

Jugglers have it pretty rough. They have to balance the time between caring for their loved ones and providing for them. Throughout the year, Jugglers do not have a lot of time to bond with their children because they are essentially doing the work of two parents, even though there is only one of them. At the end of the day, Jugglers can be wound to the limit. Taking the time to connect with members of a Juggler family can be of great benefit when it comes to avoiding dysfunction. Familial bonding creates memories that show that there is more to life than the programmed rat-race existence that the Juggler family members may be used to.

Demographics for Jugglers Age:
Relationship status: Professional Status: Children:

Income Level: Education:

MKT301 Fall 2017

21-40
Divorced or Unmarried
Steadily employed
One or more
Upper Low to Mid-level income
College, some college or technical/trade school

Psychographics for Jugglers
Money Conscious (On a budget)
Overworked (Need to take time to decompress)

Family oriented
Children are their primary concern

Dual Parents (Tag-teamers)

Tag-teamers do not have it quite as bad as Jugglers, but that doesn’t necessarily meanthey have it easy. Some families may have started out young. That means the kind of work available for the young parents may often be blue-collar jobs (mid-level-paying jobs that do not require a college degree or any specialized training). In other families, only one of the parents may be employed, in which case the other parent also becomes one more mouth to feed in the family. While juggling the time between caring for their children and providing for them is not as big an issue in most Tag-teamer households, it is still important for family members to socialize and have fun together, especially while children are young.

Demographics for Tag-teamers

Age:
Relationship status: Professional Status: Children:
Income Level: Education:

23-40
Married or Common-law couples Steadily employed
One or more
Mid-level income
Trade school or college

Psychographics for Tag-teamers
Family oriented
Money Conscious (On a Budget)
Overworked (Need to take time to decompress) Strong sense of responsibility

Children are a priority
Close ties to grandparents and other extended family

Older Couples (Empty-Nesters)

Of all the target couples, Empty-Nesters probably enjoy the most freedom. This group is composed of older adults who either never had children, or no longer have children under their care. Given the proper financial resources, Empty-Nesters can pick up and leave just about any time they like. The only thing that stands in between Empty-Nesters and a

MKT301 Fall 15 2017

Marketing Plan Guide

good time is money. A lot of times, getting the kids out of the house frees up all kinds of finances. However, there are other cases when people really have to milk the budget. They may have personal financial situations. They might be living off of pension funds, or due to an inability to work, relying on Social Security, disability, or some other form of supplemental income.

Demographics for Empty-Nesters

Age:
Relationship status: Professional Status: Children:
Income Level:

50 and over
Married
Employed, disabled, or retired
Grown and out of the house
Mid-Low to upper-mid income (may vary considerably)

Psychographics for Empty-Nesters Money Conscious (On a Budget) Adventure Seeking
Lots of free time

SUMMARY CHART

	Young Adventurers	Jugglers	Tag-teamers	Empty- Nesters
Age:	19-25	21-35	23-40	50 and over
Relationship status:	Living together or Newlyweds	Divorced or Unmarried	Married or Common-law couples	Married
Professional Status:	Entry-level work	Steadily employed	Steadily employed	Employed, disabled, or retired
Children:	None	One or more	One or more	Grown and out of the house
Income Level:	Low to Mid- level income	Low to Mid- level income	Low to Mid- level income	Low to mid- level income

Psychographics	Family oriented	Money Conscious	Family oriented	Money Conscious
	Money Conscious	Overworked	Money Conscious	Adventure Seeking
	Adventure Seeking	Tree-Huggers	Overworked
	Tree-Huggers		Strong sense of responsibility
			Tree-Huggers