Target market Article Example | Topics and Well Written Essays - 250 words

Target market - Article Example een various audiences it becomes simple for them to establish what consumer segments to accurately support their business and whether they are going to be converted into return-customers. A restaurant that has identified a target market will also have a clear focus of what it wants to do and avoid a general approach in an extremely differentiated market place. This means that such a restaurant will take into consideration such factors as gender, age, technological sophistication and lifestyle. Thus making out a target market offers a clear focus to the restaurant on the possible niche of the audience that they want to serve. Lastly identifying a target market will help the restaurants in evaluating the specific segments of their consumers that are most likely to purchase their products, thus assisting them in prioritizing their resources accordingly. In addition the restaurants will also precisely plan and pinpoint their consumers’ wants and needs. One such technique is generational marketing that defines potential consumers by economic, demographic, age, and social

Discussion - of hypothesis testing results (dissertation) Essay

Discussion - of hypothesis testing results (dissertation) - Essay Example In this model, logistics regression was applied to test the probabilities that young people consider price, effect of brand image, design, trendiness of fast fashion cloths, and effect of advertising on their decision to make a purchase. Categorical variables were considered to show how various variables affect the predictability of the decision to purchase of not within the population. Based on gender, age, and education the logistic regression provides a platform of identifying fit within the model. The application of the Chi Square in this analysis is to identify the relationship or association of two cross-tabulated variables within a population (Kocherlakota, 2010). The null hypothesis in this case is considered to show that an association exists between the cross-tabulated variables of the population. The alternative hypothesis using the chi square analysis is used to refute the null and reinstate the hypothesis (Kocherlakota, 2010). In this case, the chi square method is applied to test the association between young people’s decisions of making a purchase with price, effect of brand image, effect of advertising, design, and/or trendiness of fast fashion cloths as influencing factors. The log likelihood statistics method was used in this analysis to show the fit between coefficient estimates and data (Kocherlakota, 2010). Since data is fixed, coefficients influence the likelihood that certain outcomes will take place. In the current case, the method was applied to show how different parameters influence the likelihood of young individuals to purchasing fast fashion or not. The parameters include price, design, brand image, trendiness, and advert effects on the decisions made. H1: As it mention in the literature by Jackson (2001), price is a major determinant of the decision to buy fast fashion. In addition, a conflicting factor is also identified. The cost of fast fashion cloths does not matter to young buyers