Assignment
This part is based on Chapter 8 from your text.
Again, go to your company's website. Identify 2 products that you believe are targeting different segments. For these two products find an online retailer selling these, or go to a brick and mortar store that sells them and observe.
Based on what you see/observe develop a segmentation profile of each of the segments. What do each of the companies (the manufacturer and the seller) do with each of the products to target the different segments?
In your paper first identify the segmentation criteria, or what characteristics are important (such as lifestyle, demographics and which, occasion, and so on). Then using those, specifically describe the target market.
For example, in looking at the difference between Aldi's and Wegman's the fact that you find products in cartons at Aldi's and on nice shelving at Wegman's tells me something. If I look at the characteristics - lifestyle is one. More specifically, Aldi targets those with a thrifty lifestyle and Wegman's is more about prestige. Or, what would be the difference in targets between a multipack and a single? Or a huge watch and a more dainty one?
First - from slide titled: SEGMENTING AND TARGETING MARKETS
STEP 1: GROUP POTENTIAL BUYERS INTO SEGMENTS
(3 of 5)(about slide 15)
Tell me which you believe they are using, or if a combination, what combination? Then start drilling down. If demographics, which demographics (from Consumer Behavior chapter), or if geographic, how are they dividing geographically? Describe one target for each of the products and why you say this based on what you see in the website.
Again, this should be maybe a paragraph for each.
Most of these projects I'll just have a ‘yes' or ‘no' grade. For this one you will receive 9 points if you just use demographics or geographics to describe the target markets, and 10 points if you successfully use behavior, psychographics, or benefits to describe your target market.
By the way, if you don't receive the desired ‘grade' for any project, you may resubmit within a week of my grading the first submission.
I am going to add an alternative:
Go to two totally different types of stores that sell your product. Wegmans and Price Chopper would not be acceptable. Wegmans and Aldi's would be. Or Dick's and WalMart.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.