Marketing

IV. Target Market

* The key market they served

The SURPLUS retail store located in Cubao serves the markets of both male and female of generations X, Y and Z.

* Description of the profile and segmentation variable for your chosen market.

a. GENERATION X

Generation X (a.k.a. Baby Bust, Slackers, Why Me Generation, and the Latchkey Generation) was born during 1965-1977 and is in the 34-45-age range as of 2010. They reached adulthood during difficult economic times. They are likely to be self-employed professionals who embrace free agency over company loyalty. They value family first. These latchkey children grew up quickly, experiencing rising divorce rates and violence. They have taken greater responsibility for raising themselves and tend to be less traditional than any other generation. The characteristics, lifestyles, and attitudes of Generation X include balancing family, life, and work. They do not believe in sacrificing time, energy, and relationships for advancement like the Boomers did.

They are moving into the middle and latter stages of the coveted 18-49 year old marketing demographic. Their tastes are “not Baby Boom,” often blaming the “Me Generation” and the materialism of the Baby Boomers for their difficult times. Because they have many needs and greater financial restraints, they often shop at value-oriented retailers. They can be unsure of themselves and often need reassurance that their choices are sound. Marketers can help them plan for the future and balance work, family, and personal life.

Generation X needs to buy products and services to set up households and for young children. They account for the largest share of the nation’s parents and many of them were new home buyers caught in the housing bubble. They want products and messages designed uniquely for their tasks and lifestyles. Information and technology are important in products and services. They see technology as changing their world and techno literacy is highly valued....