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segmentation processes of the Target Corporation

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Analyze the segmentation processes of a company. Knows how to tailor products to the segments a company has chosen to serve to accommodate a product to a global environment.

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https://brainmass.com/business/marketing-strategy/segmentation-processes-of-the-target-corporation-485124

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The response addresses the queries posted in 637 words with references.

This paper is about the process of segmentation in context of the given company. The segmentation is a process where a marketer identifies a target segment within a market in order to fulfill the needs of those customers with the newly launched product or service.

Segmentation

Segmentation process is a general and commonly used marketing term. It refers to the segmentation of a market where a product or a service is to be marketed. Any company, which is either newly entering in the market or already existing but expanding its market, uses segmentation as a general process to reach to the target customers. Segmentation is an integral part of the marketing strategies that are prepared to grab the opportunities offered by a market. The overall process of marketing is based on STP or Segmenting, Targeting and Positioning, where segmenting is the initial stage to identify a target segment in a broader market. Targeting is the activity of designing the ...

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The response addresses the queries posted in 637 words with references.

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New Products, Foreign Markets, and Market Segmentation

1. New product development: What is the most important thing to consider in new product development? Why? Why is it necessary to evaluate the new product idea at each and every stage of the development process? How can marketers best promote consumer adoption of a new product?

2. Foreign markets: What are some factors companies need to consider before attempting to enter foreign markets? If you were to set up a market program for a product in a foreign country, what should you take into consideration? What advertising strategy would you develop for the promotion of a new product. What are some things you should consider?

3. Differentiate brand extension from line extension Please identify a recent (1) brand extension and (2) line extension that you have seen and discuss the effectiveness of that brand. How could you maximize the odds of creating that effectiveness for each extension as a marketer?

4. Please choose an organization: e.g. Apple, Microsoft, Nike, etc. and discuss the market segmentation within that industry. Also discuss the target market of the selected company and the selection process for that target market. Please include the following:
- demographics, psychographic, geographic, behavioural characteristics for the target market for the selected company
- a positioning statement for the company with careful consideration of their brand and strategy
- demonstration of understanding of market segmentation for the selected company
- apply an understanding of customer behaviour to determine target market
- demonstrate an understanding alignment between company strategy and marketing decisions.

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