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consumertarget - Definition: markets Find

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Understanding your consumer is critical to be successful in product development Who or she is what they like what they don’t like Need to know who your consumer is Consumer Analysis and Market Segmentation Definition: Process of breaking down markets into smaller well-defined niche  markets Find who your consumer is so you know your product and who your buying for Markets segmentation – use methods of collecting and analyzing consumer data researching the data you collect from is classified into groups demographic etc, What types of tools do retailers use to gather information about the consumer Surveys Research companies that collect data Loyalty/rewards cards Focus group Video documentation Style testing/ Wear testing Give away’s POS DATA (Point of Sale) VALS
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Values, Attitudes, Lifestyles Just do market research, survey that they give there customers  Break down the information to tell about the consumer
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