· 

          Identify the product(s) that your company manufactures and sells
Homemakers is a company that manufactures and sells furniture.

·            Develop a statement of your target market(s)

Target market
Geographic Region Americas
Density Urban
Demographic Age 18-32
Gender Male and female
Occupation Students, professionals, workers.
Behavioral Loyalty status Switchers, habitual buyers, brand likers, committed
buyers
Psychographic Social class Lower, working, middle class
Lifestyle Explorer, eco-friendly, struggler, millennial.

Target market statement

Homemakers serve all its customers, from college students to new home buyers aged 18-32;
lower, working and middle class. In other words, those looking for cost-saving opportunities
while acquiring high-quality, sustainable, and tasteful craftsmanship furniture pieces.
Homemakers promises to deliver the best comfort at affordable prices.

·            Develop a statement of your competitor’s target market(s)

Target market
Type of Segmentation IKEA target customer segment
segmentation criteria  
  Region Europe, Americas, Asia & Australia, Russia
Geographic Density Urban
  Age 22 and older
Demographic Gender Males & Females
Life-cycle stage Bachelor Stage young, single people not living at home
Newly Married Couples young, no children
Full Nest I youngest child under six
Full Nest II youngest child six or over
Full Nest III older married couples with dependent children
Empty Nest I older married couples, no children living with them
Empty Nest II older married couples, retired, no children living at home
Solitary Survivor I in labour force
Solitary Survivor II retired
Occupation Students, employees, professionals
Behavioral Degree of loyalty ‘Hard core loyals’
‘Soft core loyals’
‘Switchers’
Benefits sought Cost effectiveness
Personality Easygoing and determined
User status non-users, potential users, first-time users and regular users
Psychographic Social class Lower class, working class and middle class
Lifestyle[1] Resigned
Struggler
Mainstreamer
Explorer
Source: Business Research Technology

Target market statement

Ikea creates a better everyday life at home for many consumers, aged 22 and older, around
the globe, by offering stylish, well-designed home furnishing products at low price and high
quality.

·            Develop a value proposition statement.

We get it. You want the three B’s Bueno, Bonito, Barato (Best, Beautiful, Bargain)
Homemakers helps you make your home, yours! By manufacturing well-designed, high-
quality, furnishings at low-cost, while still being eco-friendly to our main home, the earth.

References

(2015). The value proposition. Principles of Marketing. (pp.59-63). Retrieved from

https://doi.org/10.24926/8668.1901

Riley, J. Tutor2u Retrieved from https://www.tutor2u.net/business/reference/market-

segmentation

PWC. (2016). The idea of Ikea. CXO Magasinet. Retrieved from

https://www.cxomagasinet.dk/07-2016/the-idea-of-ikea

Dudovskiy, J. (2019, November 20). IKEA Segmentation, Targeting and Positioning:

Targeting Cost-Conscious Customers - Research-Methodology. Retrieved from
https://research-methodology.net/ikea-segmentation-targeting-positioning-targeting-
cost-conscious-customers/

SINCE WE ARE LIVING IN A VALUE ERA (PRINCIPLES OF

MARKETING) ,2015“So what era would you say we’re in now? Some call it the value era:
a time when companies emphasize creating value for customers. Is that really different from
the marketing era, in which the emphasis was on fulfilling the marketing concept? Maybe
not. Others call today’s business environment the one-to-one era, meaning that the way to
compete is to build relationships with customers one at a ”

+ONE TO ONE BASE ON THE CUSTOMER

REFERENCE + PARAPHRASE IT “Principles of Marketing.” Apple Books.

value proposition statement.

Ikea
Value proposition

We help xx do xx by doing xxx

4 types of value

We get it. You want

High quality
Sustainably
Craftmanship
Eco friendly,
Confort
Not wasteful but resourceful instead.
Sleak design
High quality

Bueno bonito barato= 3 B’s

Great quality, sleek , low price

“Everything Starts with Customers”

Excerpt From: [Author removed at request of original publisher]. “Principles of Marketing.”

Apple Books.

Excerpt From: [Author removed at request of original publisher]. “Principles of Marketing.”

Apple Books.