Homework: Segmentation and the Target Market
The following Course Outcome is assessed in this homework:
• Describe market segmentation and target marketing in a case scenario.
Using the information on the target market you learned from 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 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 words 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.
Task
• Identify either a consumer or business market.
• Describes a minimum of four bases each for segmenting the market for at least one market.
• Identify four 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 segmentation descriptors for at least one market.
• Describe a minimum of 4 factors of the target market.
• Identify a marketing mix (product, place, promotion, price) for the product.
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.