Segmentation and the Target Market
Discussion of which segment you are targeting – consumer or business
A detailed discussion of the Bases of Segmentation – please read and research this area. Do not discuss the target market until this area is fully analyzed. List a minimum of 4 and then discuss the ones you have chosen and why
Segmentation Descriptions – specifically state each for every bases of segmentation that you identified and discuss why
Discuss at least 4 business or consumer bases of segmentation (depending on which you chose earlier, these will be the other ones) achieve 1000 points.
Target Market – This is identified based on the bases of segmentation and their descriptors
Marketing Mix – this must be discussed in detail for each of the elements
If you do not include well-thought-out, substantial responses for each of these areas, your Competency Assessment will be returned to you. If you do not provide the correct responses for a section, you will be asked to research the topic so that you fully understand the concept and to resubmit your assignment when you do.
Lastly, this course is about understanding the foundation of marketing, a truly dynamic field that drives business success – it is not a course on how fast you can submit an assignment with the least amount of effort and the minimal amount of knowledge on the subject. Study the topics, learn them and apply them to your Competency Assessment. Then one day, go on to apply them in your job and be great!
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Segmentation and the Target Market
This competency assessment assesses the following Outcome:
MT219M3-3: Describe market segmentation and target marketing in a case scenario.
Using the information on the target market you learned from your reading, original research on the Internet, and the various learning activities provided, read the scenario and respond to the checklist items in a business memo format.
Case Scenario: The product is a portable multimedia center, to be marketed in the U.S., called “Media Popup” and made by the startup company Portaltron, Inc. The multimedia center is a glossy compact 14ʺ×10ʺ entertainment box. It includes a screen with optional additional screen extension that pops out of the right side; a computer keyboard that folds down; four surround-sound mini-speakers that can be adhered to any hard surface with the stick strips at the back of each speaker; and a subscription to streamed movies, music, and videos for 2 years — all for $499. It is available in three different colors (red, black, grey, and white).
Business Memo: You are a marketing assistant at Portaltron, Inc. tasked with providing a business memo (i.e., an internal company document) to the U.S. executive management team of Portaltron, Inc. concerning the checklist items provided below.
Write a minimum 500-word original business memo. In a concise manner, describe to executive management the data you will analyze to determine a potential market for this product. State your purpose in the opening paragraph and provide sufficient information to explain the required items. Finally, provide a concluding paragraph to summarize your suggestions.
Checklist:
Identify either a consumer or business market.
Describe a minimum of four (4) bases each for segmenting at least one market (see Chapter 8).
Identify four (4) segmentation descriptors (e.g., if a company chose usage-rate segmentation they might decide between heavy and light users).
Explain your rationale for the four (4) segmentation descriptors.
Describe a minimum of 4 factors of the target market.
Identify a marketing mix (product, place, promotion, price) for the product.
In a minimum of 2 pages (500 words) in a Microsoft® Word® document, write the business memo using the current APA format and citation style.
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