HCM325 M2-1 Short Assignment: Target Market Profile

HCM 325 Module Two Short Paper Worksheet
Identify the target market for your selected product/service. Consider the following methods by which you can segment and describe your target market. Select the three that are most relevant for your project; conduct research in order to describe your target market in each of the three areas.
Part I. Target Market
1 Identify the specific target market for your selected product/service:
Families with children and adults with developmental disabilities in New Jersey.
Part II. Target Market Profile: Select three of the following segmentations to describe the target market:
2 Geographic segmentation:
New Jersey: Bergen, Passaic, Middlesex and Monmouth counties
3 Demographic segmentation:
Our services primarily target children and young adults with developmental disability. Both sexes are admissible to our facilities. Mostly the families with low income earning capacity below $50000 a year.
4 Psychographic (lifestyle) segmentation:
As a charitable organization, we will primarily target low income earners with members suffering from developmental disability.
5 Health risk segmentation:
People with developmental disability are prone to other diseases and they are likely to suffer from other related conditions. Thus, the target group can be classified as high health risk group.
6 Usage segmentation:
Usage segmentation is classified into two: intensive care facilities and intermediate care facilities. Based on the nature of the disability, patients are classified into which facilities are best suited for them. Intensive care facilities are for more serious disabilities and are considered heavy users of our service whilst the intermediate care facilities are for people with lesser severity of developmental disability.
7 Payer segmentation:
This service is not for profit making and therefore offered for philanthropy. Thus, income is through donations and charity and therefore no need to have payer segmentation.
8 Benefit segmentation:
The benefit segmentation is etched on perception consumers of our product is expected to earn from our service. Since it is charitable service, hypothetically all consumers are expected to benefit equally from the service. Thus, no benefit segmentation is necessary.
Part III. Use the information from the...