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Business & Marketing
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M-U6D
Essay Instructions:
Topic: Segmentation
Segmentation is crucial in order to match the product to the needs and wants of the appropriate group of potential customers.
Scenario: A new product service company's marketing assistant tells his boss that the market segment for a new battery operated fireplace that runs up to 48 hours should target Millennials.
What is wrong with the marketing assistant's segmentation of the market? Explain.
Resource book info ch 8
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Market Segmentation Post
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The marketing assistant’s market segmentation targeting Millennials for the new battery-operated fireplace running up to 48 hours is misguided for specific rationales. This market segmentation approach mainly emphasizes demographic attributes without taking into account other important factors. According to Lamb et al. (2021), effective market segmentation should focus on a wide range of factors, including customer needs, interests, priorities, lifestyle, and other behavioral or psychographic criteria. In this scenario, the marketing assistant market segmentation targeted millennials as a group instead of targeting the individual as a well-defined seg...
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