For this week’s discussion response: Start with a brief overview of your busines

For this week’s discussion response:
Start with a brief overview of your business: company name and what you are selling (a maximum of 3 sentences).
Describe the target market (businesses or consumers) for your chosen company.
Use the following headings to organize your response. Why do you think this category of people is more likely to buy what you have to sell?
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)?
Start your response with a one sentence description of your business: company name and what you sell.
Describe the target market for your business using the subheadings below. Use the textbook for examples. The page numbers are provided in the discussion.
The target market comprises people with similar characteristics who are more likely to purchase your product. Once you know who you are after, you can design an effective product promotion plan.
Remember that you cannot target everyone, so a specific description and target market description is needed.
Demographic Description (specific age range, income range, etc. are required).
Geographic Description
Lifestyle Description
Psychographic Description
Purchasing Pattern Description
Buying Sensitivities Description
Important:
The age range should not exceed 30 years in gap (e.g. 30-50 years)
The income range should not exceed 30 K in difference ( e.g. $40,000 – $60,000)
People with different incomes and at different ages have different preferences and purchasing abilities.
If you are targeting both businesses and individual consumers, you need to have two separate target market descriptions. See page 109 in the textbook. I recommend focusing on only one category.
The target market description should focus on your target market only (not what you do or plan to do at your business)
The 6 subheadings are required.
Respond in indented paragraphs and using sentences under each heading.
Additional resources:
Click on this link for an article with examples of target market descriptionsLinks to an external site.
Click on this link for an article on how to find your target marketLinks to an external site.
Goal: Complete Week 3 discussion by Wednesday and the comments before Friday.
Check out the video below for more information on the Target market and how to address this week’s question.
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Live session: Tuesday, 5:30 pm to 6:15 pm EST.
Topics: Week 3 discussion- Target market and Assignment 1 (due this week)
Week 3 Live class linkLinks to an external site.
Did you miss a live session? Link to past RecordingsLinks to an external site.
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Assignment 1 is due this week and includes 5 questions related to your for-profit startup business idea.
Tip: Plan to have it ready by Friday this week. Work ahead.
Download the template provided in the Assignment description ( under week 3) and complete each question. The template is required.
Write your answer in paragraph format under each heading.
Question 1 is your week 1 discussion response, adjusted per the feedback received. Expand on the information as needed.
Question 2 refers to Industry trends and industry information. Conduct research in the online library to help you with this. The trends can also be opportunities you will need to identify in your SWOT analysis for week 2 discussion. References are required for this information.
Question 3 requires you to select a strategic position from the textbook and discuss per the instructions in the assignment. You will find examples in the textbook and enough information to respond to this question.
Question 4 requires you to discuss the distribution channels ( how do customers can access your products or services) and discuss.
Question 5 includes a revised SWOT matrix (you started this in week 2 discussion). You will also need to summarize the key learnings from this analysis under the matrix.
Check out this library recording on how to find trends in your industry quickly and effectively.
Check out the video below for an overview of Assignment 1
Additional Resources
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Research, Writing, Citation help (Library)- Schedule an appointment link
Citation Generators – Link to in-text citations and sources generator (SWS format)
Can’t find good resources? Ask a librarian link
Integrating Evidence: Link to how to paraphrase
Check for Grammar and Mechanics: Microsoft Editor: a writing assistant built into Word, Outlook, and other applications. As you write, Editor offers suggestions that can improve your spelling, grammar, clarity, conciseness, and tone: https://library.strayer.edu/editor
BUS599 Library Guide Link
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A sheep industry opportunity- Solar Grazing!
The Inflation Reduction Act’s tax breaks are motivating Wall Street leaders to mitigate the rural impact of the green transition. They are paying local farmers to let their sheep graze around solar panels, preventing excessive grass growth.
Known as solar grazing this practice is gaining momentum as more investors shift towards green energy.
The number of sheep-maintained solar farms in the US has increased tenfold in the past two years, according to the American Solar Grazing Association.
The US solar industry experienced its fastest growth ever last year, partially due to support from energy subsidiaries of major financial institutions like Berkshire Hathaway.
This presents a significant opportunity for the sheep industry, offering farmers a supplementary revenue stream (around $1 per acre grazed) and free food for their sheep, thereby fostering local support for solar companies.
Read more about this :
Bloomberg-‘Solar grazing’ around panels is providing a lifeline to the US shepherding sector as clean energy expands.Links to an external site.
American Solar Grazing AssociationLinks to an external site.
I WILL ALSO SEND ATTACHMENTS OF THE BUSSINESS AND ASSIGMENTS FOR REERENCE