What drives this specific consumer?

What drives this specific consumer?
May 24, 2021 No Comments Assignment Assignment help

IMPORTANT: I just need help with some speakers notes and if you could add slides for these topicsActivities: the things they do in their daily lifeAtmosphere – the places they like to goArtifacts: the things they haveTheir motives, shopping attitudes & behavior. What drives this specific consumer? That would be great You have been “hired” as an independent consultant to analyze the Overall Retail Strategy of the assigned retailer.In the next 5 years; retail is poised to change more than it has in the past 50 years; with the rise in artificial intelligence, technology, and virtual reality leading the way.Value and Transparency are important for retailers“It’s all about the product, yet it’s nothing about the product”Retailers need to create new relationships to engage shoppers, making MEANINGFUL connections; utilizing storytelling in their merchandising strategies, because emotional connections drives brand loyalty.Today’s consumers are looking for key themes to provide VALUE to them:Personalization – does the retailer connect with the target consumer; can they create personal one-of-a-kind items?Customization (retailers need to provide a curated assortment that speaks to their customer)Digitization (engaging customers in the entire Total Retail Experience in a myriad of ways)Socialization (Consumers today respond to different social media channels, on-line and mobile. How can retailers leverage this and use to their best advantage?)Given these considerations; HOW does the retailer you’ve been assigned showcase these points?This assignment is worth 40% of your total grade for this course.. PART 1: CONDUCT A SWOT ANALYSIS OF YOUR RETAILER’S:IInternal Strengths and WeaknessesExternal Opportunities and Threats in the marketplaceYOU MUST USE A SWOT GRID FORMAT THAT FITS ON 1 PAGE, EITHER LANDSCAPE OR PORTRAIT. THIS IS NOT TO BE IN ESSAY FORM.THIS SWOT NEEDS TO BE BASED OFF OF RESEARCH YOU FIND; NOT JUST A GENERAL OPINION.CITED SOURCES SHOULD BE ON A SEPARATE PAGE.PART 2: PROVIDE A COMPLETE CONSUMER PROFILE OF YOUR RETAILER:This profile should list:Overall target market segment: Your retailer will represent one of the following segments:Baby Boomer, Generation X, Generation Y, Generation ZIdentify which generational cohort your retailer is trying to appeal to. What are this cohort’s characteristics? Why is this cohort an important one for retailers?You must provide facts and figures that correlate to this cohort.Demographics and lifestyles of the specific consumer of your retailer. How does this person spend their time and money? What is important to THIS SPECIFIC consumer segment?Actors: the people in their lives, their circle, and how it influences them.Activities: the things they do in their daily lifeAtmosphere – the places they like to goArtifacts: the things they haveTheir motives, shopping attitudes & behavior. What drives this specific consumer?From this list, create a narrative description of a fictional typical target market consumer; providing enough detail so that one can easily visualize him or her.