Target Market Segmentation Research Paper-Gap Inc.
The Gap Inc. is a global specialty retailer that operates stores selling casual apparel and accessories for men, women, and children (Yahoo Market Guide, 2001). Under the Gap, are the Old Navy and Banana Republic brands (Yahoo Market Guide, 2001).
The Gap’s target age segment is males and females ranging from seventeen to twenty-five years old (Cosmopolitan, 2000, p. 2). The typical family life cycle for a Gap customer comprises of single teenagers and young adults to young married couples (Cosmopolitan, 2000, p.2). The races Gap targets consist of many minorities such as Hispanics, Asians, and African-Americans in addition to Caucasians (Cosmopolitan, 2001, p. 57). The income segment is middle to upper-class individuals who reside in urban or suburban areas in developed countries such as the U.S. and Japan (PRIZM Cluster, 2001). Common occupations of Gap customers include: high school and college
students, entry-level college graduates, and young working, married couples. Gap customers tend to be energetic, work/career oriented, and active people who have significant time to shop (Cosmopolitan, 2001, p.57). In addition, their customers have a sense of style sophistication in their wardrobe, and are confident individuals who feel they are buying the best product available.
The target age segment for Banana Republic ranges from ages fifteen to forty-five (GQ, 2000, p.3). The family life cycle consists of teenagers, single women and men, and career-oriented married couples (GQ, 2000, p.3). Banana Republic targets the same races as its parent company. The races include both minorities and Caucasians. The income segment includes middle to upper-class individuals who reside near urban or suburban areas in developed countries. Common Occupations for Banana Republic customers include: high school/college students,...