Business Studies Week 3 Discussion - MGMT 310 - Stuvia US

Business Studies Week 3 Discussion Paper instructions: Describe the target market for your chosen company, whether it's based the snack food company scenario or a start-up company of your choosing. Be sure to include the following: Demographic Description: Age, income range, gender, family size, education, occupation, et cetera. Example: A likely user for X product is a male aged 25–34 who earns between $35,000 and $55,000 per year and has a four-year college degree. Geographic Description: Area you would like to serve, density (urban, rural), nature of location (mall, business center, et cetera), climate condition. Example: Atlanta. Lifestyle Description: Where do your customers shop, what do they do for leisure, what kind of clothes do they wear, what type of cars do they drive, et cetera? Psychographic Description: How would you describe your target market, for example, socially responsible, trendsetters, or fun-seeking? Purchasing Pattern Description: How will your target market use the product, how many times will they buy it, where do they buy the product, how do they pay for it, et cetera? Buying Sensitivities Description: What factors are important to the customer before they buy (price, quality, customer service. packaging, et cetera)? n your response, be sure to include the subheadings as you address each aspect of your target market. Demographic Description (specific age range, income range, etc. are required) Geographic Description Lifestyle Description Psychographic Description Purchasing Pattern Description Buying Sensitivities Description Keep in mind you cannot target everyone. The target market is formed of people with similar characteristics who are more likely to purchase your product. Once you know who you are after, you can design an effective plan to promote your product. Note: Start your response with a brief description of your business (no more than 4 sentences). Specify your company name, what business you are in, and the specific product or service you plan to sell. * Company use King and Queens Fast Food Company In most cases, the name given to the company is considered one of the key ways through which the company brand can be promoted. I that case, the name that I have chosen for this company is Kings and Queens Fast Food Company. The name is important because it gives the customers a feeling of uniqueness and identification. Products and services Taking breakfast, lunch, and dinner are considered to be part of our day. However, the increased tight working conditions rob us of the opportunity to have them. However, the snacks are proving to be the true heroes of our eating habits. The company will majorly focus on cookies made from different flavors to make their taste unique. The ingredients needed to make this product include flour, cornstarch, oats, baking Soda, cream of tartar, spices, egg, sugar, milk, cream, syrups, oil, and butter. I will consider using strawberry sugar-flavored cookies. Mission The mission of the company is very important. Companies consider using their mission's statement to help them achieve their goals and objectives. For example, for the employees to stay focus and work as a team to achieve a common goal, a mission statement is used as a guide. In the case of this company, this company's mission will help the company make the profits following the required framework that the company can use to achieve its goals. The following is the mission statement of the company. "The company strives to offer the best cookies with no health hazards and use business to inspire and implement solutions to the problems faced by the general population." References Lin, Q., Zhu, Y., & Zhang, Y. (2020). How Does Mission Statement Relate to the Pursuit of Food Safety Certification by Food Companies?. International Journal of Environmental Research and Public Health, 17(13), 4735. Written for

• Institution
• MGMT 310
• Course
• MGMT 310

Document information

• Uploaded on
• February 19, 2022
• Number of pages
• 3
• Written in
• 2021/2022
• Type
• Essay
• Professor(s)
• Unknown
• Grade
• B