PGU Market Segmentation and Target Marketing Memorandum
Description
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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?×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. 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
Use MKTG 13th: Principles of Marketing Lamp, Hair, McDaniel as the one and only source needed.
Lamb, C. W., Hair, J. F., & McDaniel, C. (2020). MKTG (13th Edition). Cengage Learning US. https://purdueuniversityglobal.vitalsource.com/boo…
