Positioning a Watch
In this simulation, you continue in your role of Senior Vice President for Marketing at Enhanced Analytics, Inc., a provider of marketing and consulting services, with headquarters in Austin, Texas. In this role, you report directly to the CEO of the company and are responsible for decision-making and marketing strategy. You oversee a department with 225 employees at the company.
Enhanced Analytics' new client is a maker of watches and other wearable electronic gadgets. The company has a new product on its drawing board: a smartwatch that is capable of monitoring the user's vital health stats, such as heart rate and blood pressure, as well as displaying information about any incoming or missed calls from the user's smartphone.
The company is now in the process of identifying the ideal market segment for its upcoming product and you have been tasked to assist.
Your role is to identify a specific age group and geographic area that is most likely to want to purchase your client's smartwatch.
Prepare a written report for your client describing your chosen target market and your reasons for selecting it. The report should contain the following sections:
1. A description of the age group and the geographic are you recommend for the launch of the product. Include specific data related to the size of this market.
2. A justification (a minimum of 500 words), outlining the reasons you recommend this particular target market, and not others.
Include outside research to support your ideas. There is no page limit to this assignment. The assignment will be considered well-done if it contains all the required sections and subsections, if it is clearly written and your thoughts and ideas are supported by specific data and research.