Describe Market Segmentation And Target Marketing In 391433

Question

Describe market segmentation and target marketing in a case scenario I Need Help Completing This Asapmt219 3describe Market Segmentation I Need Help Completing This Asapmt219 3describe Market Segmentation 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 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” x 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.

Dr. Jack HW Helper · Accepted Answer

To: Executive Management Team, Porttron, Inc. From: [Your Name], Marketing Assistant Date: [Current Date] Subject: Market Segmentation and Target Marketing Strategy for Media Popup Introduction and Purpose The purpose of this memo is to analyze and recommend potential market segments for our portable multimedia center, "Media Popup," and to outline our target marketing approach. Using data derived from our comprehensive market research, industry reports, and insights from Chapters 6 and 8 of our marketing textbook, this document aims to identify key consumer or business markets, segmentation bases, descriptors, target markets, and an appropriate marketing mix to effectively position Media Popup in the competitive U.S. market. Market Identification Considering the nature of the product, which is designed for portable entertainment, the most suitable market segment is the consumer market. Specifically, we are targeting tech-savvy, entertainment-oriented individuals who desire flexible, high-quality multimedia experiences in both personal and social settings. This segment includes young professionals, college students, and urban dwellers who frequently seek on-the-go entertainment options and are willing to invest in innovative technology that enhances their leisure activities. Market Segmentation Bases Our approach to market segmentation is based primarily on demographic and psychographic bases: Demographics: Age, income, occupation, and education level. Psychographics: Lifestyle, personality, and entertainment preferences. Segmentation Descriptors and Rationale To define specific segments, we will consider the following descriptors: Age: 18-35 years—this group is highly receptive to portable, tech-driven entertainment devices. Income: Middle to upper-middle class ($50,000-$150,000 annual income)—affording discretionary spending on innovative leisure products. Occupation and Education: College students, young professionals, and early-career individuals with higher edu

Describe Market Segmentation And Target Marketing In 391433 ✓ Solved

Describe market segmentation and target marketing in a case scenario

Sample Paper For Above instruction

Introduction and Purpose

Market Identification

Market Segmentation Bases

Segmentation Descriptors and Rationale

Target Market Description

Marketing Mix Strategy

Product

Place

Promotion

Price

Conclusion

References