The following scenario is based on the original Project Scenario and is specifically applicable to this assignment.)
Lisha was impressed with your understanding of the issues related to Caballero's company, competition, and consumers. In preparation for Caballero's launch of a new product, Lisha has completed some initial work on the next step in creating a successful marketing plan: identifying a target market, that is, the market Caballero should focus on for best results with its new product. Lisha would like your input. She would like you to review the descriptions of three different possible target markets provided by Kegan Research Group, Caballero's market research company, and she would like your input regarding which is the most appropriate market for Caballero's new line of packaged coffees.
What will you learn from this assignment? Read these learning outcomes to find out.
For this assignment, you will write a 300-word memo to Lisha assessing the most appropriate of the three potential target market profiles and explaining which one you think is best suited for what Caballero is trying to accomplish. As you work on your assignment, consider the following:
You do not need to know exactly what product you're going to sell to this group of consumers, since you will choose the exact product based on the consumer and what benefits they are looking for in the product.
? The three Cs-the company and its core competencies; the competition and who they are targeting; and the consumers and what they're looking for in a coffee product (i.e., justify your selection in terms of the three Cs)
? The basis on which a market is segmented
? How a target market is chosen (for example, is Caballero segmenting this market in terms of demographic, geographic location, behavior, etc.)
? The possible benefits sought by consumers in each of the three target markets
Before sending a document to your faculty member, be sure to include your name and the title of the assignment at the top of the document. When you save the document, include your last name, first name, and assignment title in the filename (e.g., smith_john_assignment1a).
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I have reviewed all of the research information. The research information was detailed and painted a true picture of the target markets that are currently available for us to further pursue. Stating that, I feel that the best option for Caballero is to target the Organic, ...
The solution discusses Caballero Target Market Profiles