MKT 571

Topics: Variety store, Psychographic, Dollar Tree Pages: 4 (558 words) Published: October 15, 2014
Write a white paper on a company of your choice and discuss the market segmentation within

that industry along with the target market for the company and the selection process for that

target market.

Required Elements:

• No more than 2100 words

Dollar Tree Stores go back over 50 years and started with K. R. Perry and a Ben Franklin

variety store in Wards Corner, Norfolk, Virginia, and to Macon Brock’s, Doug Perry’s (son of

K.R. Perry), and Ray Compton’s adventure into $1.00 retailing (Dollar Tree, 2014). The name

change to Dollar Tree was made in 1993. In 2012, Dollar Tree has opened 345 stores and

exceeded $7 billion in sales. The company spans from Washington, D.C. to San Bernardino,

California. They are even outside the United States with retail stores in Canada. The Dollar

Tree Stores went public on NASDAQ in 1995. Dollar Tree has acquired several chains of stores

through the years. They are Dollar Bill$, 98-Cent Clearance Centers, Greenbacks, Inc., and

Deals stores. Dollar Tree values attitude, judgment and commitment.

Include demographic, psychographic, geographic, and behavioral characteristics for the

selected company.

These four segmentation bases are: (1) geographic segmentation, which is based on

where prospective customers live or work (region, city size);

Dollar Tree is working to cover all regions in the United States and expanded outside

the U.S to Canada. They want to offer every market the option to purchase ideas for

$1.00. Dollar Tree stores are located in 48 states and they are located in shopping

centers and malls.

(2) demographic segmentation, which is based on some objective physical (gender,

race), measurable (age, income), or other classification attribute (birth era, occupation)

of prospective customers;

Dollar Tree targets all ages and income with offering all the items for $1.00. They offer

items ranging from restaurant supplies to...
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