I need help completing this ASAP! MT219-3: Describe market segmentation and target marketing in a case scenario. Using the information on the target market you learned from reading Chapters 6 and 8 in

Catherine Penrod

Formatting Guidelines

Page 3 of 3

REMOVE ALL THE RED LETTERING - THOSE ARE MY TIPS FOR YOU AND SINGLE SPACE A MEMO

TO: Porttron, Inc. Executive Team

FROM: XXXX

DATE: XXXX

SUBJECT: Marketing the Media PopUp

After you write the introduction

Step 1 - Tell if you are going to sell to consumers

Step 2 - go to the book and choose a "base of segmentation" Explain what that type of base means and why you are using it for the Popup - this should begin to identify who you are going to market the product to

Step 3 - Conduct research into the people who make up the market you identified when you selected your base of segmentation and what the characteristics of those people are. For example, if you choose a behavioral base and you think your ideal people to sell to are aged 22-40, then find out what behaviors they share in using technology similar to our Popup so that you can prove that your ideas about the people that constitute the target market are correct

Step 4 - explain why you think you have correctly identified the base and the target market

Step 5 - paint a verbal picture of your best customer - i.e. my best customer is age 25, has an income of 30,000-50,000 per year and spends about $1500 per year on technology and uses streaming music, videos, and other technology an average of 6 hours a day [I AM NOT SUGGESTING this - because I do not know this since I have not researched this market but after you do, you should have an idea who your ideal customer is - I am just giving an example of something you might find out]

Step 6 - address all 4 parts of the marketing mix

An introduction paragraph provides the purpose of the memo and outlines the topics to be covered. Preview the main points and/or recommendations using headings for each section. NOTE: There is a header on page 2 that you will need to customize. APA formatting for a memo is single spaced.

The purpose of this memorandum is to explain the steps that were taken in order to segment the market for Porttron’s new Media PopUp.

Market Identified

Use a consumer market - it will be much easier for you. If you want to use a business, use it as your distribution channel. IF YOU CHOOSE A BUSINESS STRATEGY - THEN YOU WILL ANALYZE ITS CHARACTERISTICS - NOT THE END CONSUMER. IT IS MUCH HARDER. Tell me which market you chose and why.

Bases for segmentation

Choose 1 or 2 Segmentation bases for your potential customers from this list: geographic, demographic, psychographic, behavioral, and benefits sought. Describe what the base is and why you think it is a good one for the PopUp. YOU MUST GIVE DETAILS ABOUT THE SEGMENTATION BASE YOU PICK. If you want to market B2B, you will need to look up in the book to find the different bases for segmenting businesses. It is not the same as segmenting consumers.

Segmentation Descriptors

YOU MUST CONDUCT RESEARCH - YOU SHOULD HAVE SOME STATISTICS IN HERE FOR YOUR CHOSEN CUSTOMERS – Try the Pew Research Center.

(Choose only 1 or 2 - more details about the exact reasons that these descriptors fit the PopUp) Segmentation descriptors for consumers are:

Geographic - segmenting a campaign’s target audience based on where they are located. Segments can be as broad as a country or a region, or as narrow as one street of homes in a town.

Psychographic - segmentation divides the market on principles such as lifestyle, values, social class, and personality,

Behavioral - dividing consumers into groups according to any of the following attributes: usage, loyalties, awareness, occasions, knowledge, liking, and purchase patterns, and

Benefits sought - dividing your market based upon the perceived value, benefit, or advantage consumers perceive that they receive from a product or service. You can segment the market based upon quality, performance, customer service, special features, or other benefits.

Demographic - segmenting the market based on certain characteristics of the audience. Characteristics often include, but are certainly not limited to: race, ethnicity, age, gender, religious, education, income, marital status, and occupation,

OR

Demographic segmentation can also be used in B2B markets. In this case, common demographics include: company size, industry, role, time working for the company, and more.

Rationale for the segmentation descriptors

Explain why you chose your segmentation - if you used a business to business (B2B) strategy, you will need to explain why you chose to market to businesses and what their characteristics are.

Target Market

Describe a target market of consumers - who is your ideal customer (paint a verbal picture). This should connect to the research you conducted and what the research shows about these people - remember you are describing potential customers.

If you used a business to business (B2B) strategy, you will need to explain the characteristics of their customers (not just the ones you think will use this product. Then you will need to explain why you think it is a good fit for this product.

Marketing Mix

Product - briefly review the product along with the services and warranty.

Place - How are you going to distribute your product? What is your distribution channel?

Promotion - How will you promote this product?

Price - describe the pricing strategy.

References

Lamb, C. W., Hair, J. F., & McDaniel, C. (2017). MKTG, 11e. Mason, OH: Cengage Learning.