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BUAD 345: Consumer Behaviour

This guide will help you with the research project for this course

Target Consumer

Who are you selling to?

  • How old are they?
  • Are they male or female?
  • How much do they earn?
  • What do they do for work and leisure?
  • What is their level of education?
  • What are their technological preferences?
  • What are their spending habits?

Individual income, family income, and expenditures are critical elements. Mobility, family structure, and dwellings can be important, and any unique features that may be required for your product such as health, specific activity, recreation, or travel.

See the journal articles and statistical sources sections of this guide for more resources to research your target markets.

Target Location

What is the location of your market?

The geography of the market is based on the way in which Statistics Canada collects its statistics.
The geographic areas include:

Census Division (CD): regional district
Census metropolitan area (CMA) or a census agglomeration (CA): one or more adjacent municipalities around a major urban core
Census Subdivision (CSD): municipality
Census Tract (CT): areas in urban cores
Dissemination Area (DA): small neighbourhood dissemination blocks

For more detailed information:

Definitions

Market (business): "a geographical area that includes a significant number of potential customers" (Rosenberg, 1978, p. 276).

Market segmentation: "individuals clustered into recognizable groupings based on common characteristics such as age, sex, income, or geographic location. Products or services are designed to satisfy that segment of the total market" (Shim, 2006, p. 255).

Rosenberg, J.M. (1978) Dictionary of business and management. New York, NY: Wiley.

Shim, J.K. (2006). Dictionary of business terms. Mason, OH: Texere

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