Select 1 consumer products company that is part of the Fortune 500 list. Refer to the Week 6 University Library page for assistance with this.
Select 1 zip code for an area you are familiar with.
Access the Claritas website and input your selected zip code into the Zip Code Look-up tool to access demographic information.
Using your selected consumer products company and demographic information for the zip code, respond to the following in a minimum of 175 words:
Describe how the company’s key product and brand elements fit the needs of the market for your selected zip code.
Evaluate the company’s ability to address this market.
Reply to these two classmate’s statements below whether you agree or disagree. State why and explain. or your faculty member. Be constructive and professional. You will respond in 100 words each statement.
1)The company I chose was Walmart & the zip code was 35221. There is a mixture of working class people & retired with the income being at least 35K per year. Then you have another part where there are school age & high school kids. This neighborhood & surrounding one would be considered an urban area. There are several Walmart’s within a 20 mile distance. But there are 2 that are less than 6 miles away. One is a neighborhood Walmart & the other is the supercenter.
Walmart is convenient for everyone in the area, it literally takes us less than 10 min to get to the store. That’s very convenient because both of the store sells everything that’s needed. If you need to buy food, pick up medicine or school supplies everything you need is at one store. The prices are affordable & they always have great clearance items on things that are considered a necessity. think every item at Walmart will meet the needs of everyone in the area. think that Walmart addresses the needs of everyone & they are good at keeping items in stock. Walmart has always had prices that fit everyone’s budget.
The online ordering is another great benefit for those who don’t like to shop but can order online & have someone shop for them. On top of finding products & items that are affordable we don’t have to drive a long way to get the things that are needed.
2)Hello All,
This assignment coincides with a project/experiment that a mortgage broker (that I did part-time work for over ten years ago) had me complete. At that time, demographic information was not as easily accessible as it is now. With that being said, she instructed me to go into local Walgreens and CVS locations and examine the cosmetic section.
was able to tell the race demographics by that alone. The thing that paid the most attention to, was the choices in lipstick colors.
In predominately black neighborhoods, there were mostly earth-toned colors. In predominately white neighborhoods, there were more variations of red lipstick colors. And in areas that were predominately Hispanic, there were mostly darker colors/tones.
Ironically, the company that I’ve used for the focus of my assignments in our class, is Walgreens. Not because of the experiment, that completed years ago, but because, toward the end of last year, read several articles stressing how financially unstable the company has become. And articles informing of how many locations were due to close in the upcoming years. In looking up the information for this week’s assignment however, Walgreens is well-positioned to address the needs of a variety of market segments within ZIP code 75104.
The demographic data for the area (Cedar Hill) reflects families, older adults, and diverse ethnic backgrounds. There are different sectors in 75104 that house the overall variations of these demographics. They are: wealthy older family mixes, older empty nesters, and upper midscale younger adults mostly with children. The median annual income is$157,799 which is fairly good in (order to live a comfortable life in) the state of Texas. The largest population by age group is 65+ with 45-54 running a close second.
Walgreens is able to serve the needs of the community with its wide product range and accessibility. Walgreens stores are conveniently located, offering ease of access, which is important for families, the elderly populations, and busy individuals. Walgreens typically tailors its offerings to a diverse customer base, offering products that meet the needs of various ethnic groups, including beauty and wellness products that reflect different cultural preferences. Walgreens offers prescription medication, vaccines, health screenings, and over-the-counter remedies. For the older population, this is especially important. Walgreens has a wide array of beauty products that cater to diverse skin tones, types, and preferences, which is a key element in this communities with such a diverse demographic.
For the younger population, the convenience of quick, local access to food, beauty products, and health care items aligns with their more fast-paced lifestyles. Walgreens also stocks baby care, snacks, and toys, making it a one-stop shop for families with children. To top things of Walgreens has loyalty programs like Balance Rewards, offering discounts to attract middle-income and budget-conscious consumers.
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