Business Finance Homework Help

Your attention has been focused on how merchants use consumer analysis and demographics to help ensure that the right products are targeted to specific consumers. As a result of using these tools, products can be ordered and delivered to the right stores as efficiently and effectively as possible. Studying demographics includes considering a wide variety of differentiators. For this assignment, you are going to research and work with several demographic characteristics to analyze a specific region or market

Instructions:

1. One way that merchants obtain demographic information is to search for information using a zip code or codes. There are many websites that provide free demographic information when you enter a zip code. (e.g. – Esri Zip Code Lookup; ZIP code Look-up – PRIZM; ZipWho.com; etc.)
   1. Choose two different websites as described above to research the demographics of the zip codes within a 5-mile radius of the Lowe’s Home Improvement Center located at 3001 Battleground Avenue, Greensboro, NC 27408.
   2. Breakdown the demographic patterns using at least six demographic characteristics described in this week’s content.
   3. Present the information you gather in an Excel spreadsheet or a table. Reference the spreadsheet or table within your paper and include it in an appendix.
2. Using the information gathered in the part 1 of the instructions and additional research:
   1. Research the store’s product selection by visiting the store’s website (https://www.lowes.com/store/NC-Greensboro/0387?cm_… _-0 ), clicking on the “Departments” tab at the top of the web page, and choosing one or more departments (appliances, tools, flooring, home services, kitchen, etc.). Take a position on how well the company’s merchandise/product strategy is meeting the needs of the population within the 5-mile radius you studied. Justify your position with at least three examples that illustrate how population needs are being met.
   2. Form conclusions about whether the company’s strategy will successfully increase its market share within the study area. Support your conclusions with specific examples or research findings.
   3. Explain why it is important for the company to view its merchandise/product strategy as an integrated and ongoing process.
   4. Include a discussion of the relationships among the store’s merchandise/product strategy, the organization’s merchandise/product strategy, and the organization’s overall business strategy.
3. Write a four-page paper (minimum) that thoroughly addresses all of the areas included in the instructions. The minimum length does not include the title page, abstract, reference page, or any additional pages containing charts, appendices, etc. Cite a minimum of two outside sources used in your research. You must give appropriate credit to the sources of the material, both external and internal.