What three consumer segments are most important for Lululemon?

Description: This assignment consists of four questions, as described below. The four questions combined will allow for the formulation of a game plan focused on defining a target consumer and listing the areas of interest connected with this target consumer. All questions need to be completed with a focus on the individual brand that the student has chosen at the start of term. 1. What three consumer segments are most important for Lululemon? Describe your three segments using mainly demographic factors. The three segments can include current consumers but must include at least one potential consumer segment (i.e., consumer that do not currently use your client’s brand). Include a short rationale for each segment outlining why this segment is important for Lululemon. 2. Out of the three segments as listed under question 1, which segment is the most important one for your brand/client? Develop your consumer persona including demographics, lifestyle, preferences, attitudes. Use storytelling to bring this consumer segment to life. Provide a rationale as to why this segment is the most important one for your client. 3. What are the key questions regarding your target consumer you need answers to start to understand his/her life, preferences, attitudes, and demographics better in order to be able to start to define an insight? List the questions that you think are most important regarding the combination of Lululemon (this will require you to go back to your answers to the Drucker’s 5 and SWOT exercises you did for the 1st Individual Assignment) and your chosen target consumer (your answer to question 2 of this exercise). Provide reasoning why these questions are important. You do not need to answer these questions here, nor do you have to define an insight! 4. How, where and when will you find your answers? List the research methodologies that are most appropriate considering your target consumer and the type of topics you listed under question 3. Consider quantitative and/or qualitative research and take both on- and offline methods into account (e.g., surveys, focus groups, observations, etc.). The answer to this question will depend on the lifestyle, media consumption behavior and preferences of your target consumer. As an example: if your target consumer is 85 years old, your research will likely have to take place in person or through traditional media vehicles. If, however, your target consumer is 17 years old, it is likely that you’ll use online surveys through social media. It is required to answer all questions, and to include a short reasoning or rationale for each of the four answers.