For this assessment, develop a coding schema based on the scenario below.
Scenario:Imagine you are a homebuilder planning to build new upscale homes in your community. You need to understand the lifestyle and motivations of potential buyers, beyond simply targeting consumers with financial assets. You have uncovered the following interview results from interviewing 500 potential customers. Note:You are not required to interview 500 individuals for this assessment; you will just analyze the results, which are given below, under the Interview Results heading.
To prepare for this assessment, conduct research on how to create and use coding schemas. The materials in Resources are recommended as a place to start your research.
In the questionnaire results, respondents most commonly characterized themselves as follows:
- Deep commitment to family and career.
- Politically conservative and respectful of authority.
- Image is important and value prestige products.
- Interested in time-saving devices.
- Trendy and fun-loving.
- Concerned about opinions of others.
- Favor stylish products.
- View shopping as a social activity.
- Financially impulsive.
- Motivated by self-expression.
- Young and enthusiastic.
- Seek variety and excitement.
- Engage in exercise and sports.
- Spend money on socializing and social media.
Based on the interview results above, develop a coding scheme. Define three to four categories of potential customers, based on each of the lifestyle points above.
Then, write a report that addresses the following:
- Present your coding schema and describe the categories you assigned to the potential customers.
- Describe how you would use your coding scheme to analyze and present the entire set of 500 responses.
- Describe how you would go about presenting the results of your analysis to management, including the following:
- Discuss the challenges a researcher would have in developing different categories of potential customers to segment.
- Describe the best segment(s) to target for this scenario.
- Written communication:Written communication should be free of errors that detract from the overall message.
- Paper length:3–5 typed, double-spaced pages, excluding the title page and the resources list.
- APA formatting:Ensure that your resource list and citations are formatted according to APA (6th edition) style and formatting.
- Font and font size:Times New Roman, 12 point.