Your next job is to choose stores for a new mall based on the idea of target markets.
Part A – Design a blueprint for the perfect mall
Your target market is students at GBEMS. You need to consider the needs of all your consumers if you want to be successful. This means you need to have stores that will appeal to all people at our school. This includes boys, girls, 11 year olds through 14 year olds, and every ethnic and socio-economic class represented by kids in our school.
Use Gliffy, Google Draw or Floorplanner to design your mall. Include:
- 12 stores – labeled
- 8 food options – labeled
- at least 2 areas with restrooms – labeled
- at least 2 security posts – labeled
- a name for your mall
Part B – Name Your Target
Create a Google Doc called “Name Your Target”. Insert a table that is 2 columns by 13 rows. Write “Store Name” on the top of the left column. Right “Target Market” on top of the right column. List your stores down the left column. Describe who you intend the store to appeal to on the right.
Insert a picture of your mall below your table.
Part C – Targeting Specific Demographics
The mall has decided to expand. There are a few target markets the mall owners want to reach and they’ve asked you to help design the perfect store. This store is a single place built to appeal to 3 distinct market segments. Start by learning who your target market is.
If you are an odd number group, use the following numbers to determine what your 3 segments are
2 digits from a group members address=P$YCLE
If you’re an even number group:
2 digits from a group members address=PRIZM
Look over the segments your group is going to focus on. Carefully read the summary, demographic traits and lifestyle and media traits. You are going to design a single store that appeals to all three groups. This may be a challenge because your groups may have very different characteristics. The first thing you need to do is figure out what you’re going to sell. For example, say one of your groups was the “You & iTunes” segment:
This segment likes technology. They are homeowners that enjoy music. The profile specifically lists MP3 players, internet radio and cable service as things they pay for. Can you think of some sales opportunities based on this profile that aren’t specifically listed? Maybe an integrated home media streaming bundle?
The Lifestyle and Media Traits lists snowboarding as an interest. That doesn’t mean you have to include snowboards in your store. What would be the pluses and minuses of doing so?
Talk about and brainstorm all of the products and services that your target audience might be interested in. Hopefully you will think of some crossover options that apply to more than just one of your segments.
Your goal is to decide on 10 products or services to include in your newly designed store. If you want, you can combine products or services into a single unit like a cell phone kiosk that could include cell phones, service plans, phones and accessories.
To record your ideas, create a document called, “Segment Target List”. List your segments at the top. Next, insert a table 4 wide by 11 tall. Write the headings, “Product/Service Name”, “Product/Service Description”, “Target Segment”, and “Needs Met”.
Part D – Floor Space
Imagine you’re in a mall. Visualize walking into a Footlocker. Is it spacious, or is everything packed tight? Is there music? What kind? Is it brightly lit or not? Do you see sales people and registers near the entrance, or are they tucked away in the back? Can you see the whole store, or are there aisles and shelves you can’t see around? Are manikins and displays spread throughout the store, or is it just merchandise? How does it compare to Payless Shoes? Mr. Alan’s? Nordstrom’s?
Retail store design is part art and part science. The main goal of store layout is to get customers into your store, get them interested and engaged with your product/service, and make sure the atmosphere and shopping experience is pleasant enough that they will want to return. Use good design principles to create a layout for the store you created in part C. When you design the floor space of your store, include:
- a backroom for stock and an office
- aisles and customer service areas
- floor merchandise space
- wall merchandise space
You can set aside areas for displays, kiosks or sales. Think about the type of layout you want. There are 4 main types of Store Layout and Design – freeflow, grid, loop, spine, and use Floor Planner to create the perfect design. Be sure to include labels for what items are in what sections as well as backroom, stock, office, and customer service/POS areas.
Part E – Market Survey
The mall has decided to expand. The owners want to make sure all Grand Blanc familys have shops that meet their needs and wants. You likely have mainstream stores in your mall design already (e.g. Abercrombie, Hollister, etc.). Now it’s time to figure out what niche markets you can find. A niche market is a group of consumers whose needs may be atypical. A niche market is a smaller part of your main market that wants something more specialized or specific when shopping. They may need buying options because they are very budget conscious, organic or “big and tall”.
Steve jobs famously quipped, “a lot of times people don’t know what they want until you show it to them”, Henry Ford said, “if I asked people what they wanted they would have said faster horses.”
Use Google Forms to create a marketing survey intended to find your niche markets. Your survey should be at least 10 questions. Be sure to include at least one of each of the following question types:
- Paragraph text
- Multiple choice
- Choose from list
Your questions should focus on habits, hobbies, lifestyle choices, likes, and opinions. Your survey should help you figure out what kinds of new stores would be best to have in the mall, but without asking “what kinds of stores do you want in the mall?” You are trying to tease out consumer needs and wants that your target market may not be aware of.
You could ask questions to figure out if people need a hardware store, a video game store, a dollar store, a book store, an Apple store . Remember, the point of the survey is to gather information to help you figure out which new stores will help meet the needs and wants of kids at GBEMS.
How many pairs of shoes does your family own?
Is there a specific brand you prefer?
What outdoor activities is your family involved with?