M-U6A

Essay Instructions:

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 10ʺ×12ʺ 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. 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. Checklist: Identify either a consumer or business market. Describes a minimum of four (4) bases each for segmenting the market for at least one market (see Chapter 8). Identify four (4) 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 (4) 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. In a minimum of 2 pages (500 words) in a Microsoft Word document, write the business memo using the current APA format and citation style (see Unit 1 reading area for APA assistance). RESOURCE info to get book https://www(dot)cengage(dot)com/dashboard/home ASK support

Essay Sample Content Preview:

Business Memo Student’s Name Institution of Affiliation Course Instructor Date Business Memo Date: 31, August, 2024 To: US Executive Management Team From: Marketing Assistant Subject: Market Segmentation and Target Marketing Strategy for “Media Popup” This memo aims to outline possible market segments in which the “Media Popup” can be distributed, define descriptors for segmentation, and finally, create a marketing mix to introduce the product to consumers effectively. The "Media Popup" is instead targeted at an individual consumer and not a business, and therefore, the consumer market becomes our main market demographic. When advertising this product, there is a need to segment the market in order to come up with specific categories of consumers who will be interested in buying this product. For segmenting the consumer market, we propose using the following bases: Demographic segmentation and geographic segmentation, psychographic segmentation, and behavioral segmentation. In terms of demographics, the defined audience will comprise the 18-35-year age bracket because newer technology finds more popularity with this age group, and such a product will attract consumers willing to pay $499 for a solution. Besides, we will target middle to upper-income earners with the belief that they are the ones who will be willing to pay for the benefits this type of product offers, as suggested by (Miltenberger, 2023). Regionally, our focus will be on de...

Updated on November 27, 2024

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