the attached file consists of the requirements the company is Ralph Lauren and we need to launch a sports wear line for them and give appropriate theories and link them.
The company for this is ralph lauren
You need to base the research on the basis of ralph lauren introducing a sports wear segment
Now u need to do the task given below on the basis that they are introducing a sports wear segment so what is their target audience(DAMP theory) (Kotler table0, how would their customer journey be and what would be their buying and decision making process (Kotler model to be applied) and use the given theories and apply them.
TOTAL WORD COUNT TO BE 1000
2.0 The target audience; customer journey and their decision-making process:
2.1Target audience: (300 words): this should include segmentation approach, (Geographic, Demographic, Behavioral and psychographics – general model and specific to your Target group in as detail as possible, with special emphasis on psychographics.
(Suggested Segmentation Approach (900 Words): So how are you going to segment the market and how are you going to recommend one segment that you think the organisation should pursue?
So what we’re looking for here is evidence of relevant market research so that we can see why you are recommending a particular segment. We’re also obviously looking for demonstration and application of segmentation theory and models.
Which models and which theories of use enables you to segment the market and then decide which segment you think it’s appropriate to target. )
Mention Kotler’s Table, DAMP theory, Perceptual map, based on Primary (if possible) or secondary market Research.
2.2 Customer Journey and Decision making/Buying Process, (300 words) Kotler Mode
You should provide information on the chosen target audience ( 300 words) exploring their likely customer journey and buying process ( 300 words).
2.3 Consideration should be given to ways in which the organization could influence and reach the segment as part of this journey ( 300 words), either a separate section or while discussing Consumer journey ad buying behaviour.
(900 words) ( 20% Marks)