[SOLVED] Describe market segmentation and target marketing in a case scenario
Im studying for my Marketing class and dont understand how to answer this. Can you help me study?
Using the information on the target market you learned from reading Chapters 6 and 8 in your text, 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 Porttron, Inc. The multimedia center is a glossy compact 10?×12? 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 (black, silver, and white).
Business Memo: You are a marketing assistant at Porttron, Inc. tasked with providing a business memo (i.e., an internal company document) to the U.S. executive management team of Porttron, 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:
1. Identify either a consumer or business market.
2. Describe your bases for segmenting the market (e.g., demographics).
3. Identify segmentation descriptors (e.g., age, occupation, income).
4. Explain your rationale for the segmentation descriptors.
5. Describe a target market.
6. Identify a marketing mix (product, place, promotion, price).
In a minimum of 2 pages (500 words) in a Microsoft Word document, write the business memo using the 6th edition APA format and citation style.
