Based on my prior knowledge, I can analyze the relationship between the feature "contact" and the target variable "Does this client subscribe to a term deposit?".

The feature "contact" represents the method of communication with the client. It has three possible categories: 'unknown', 'cellular', and 'telephone'. To analyze the relationship between "contact" and the target variable, we can look at the distribution of each category within each target class.

The generated dictionary will include the possible values of the feature "contact" for both target classes, 'yes' and 'no'.

Here is the analysis and generated dictionary:

```json
{
	"no": ["unknown", "cellular", "telephone"], 
	"yes": ["cellular", "telephone"]
}
```

From the analysis, we can see that clients who subscribed to a term deposit, represented by the target class 'yes', were more likely to be contacted through 'cellular' or 'telephone' methods. On the other hand, for the target class 'no', clients had all three contact methods: 'unknown', 'cellular', and 'telephone'.