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target segment

PART 2: Application to Product/Service
(NOTE: this section of the assignment will become part of your Final Strategic Marketing Plan)
Provide a quick overview of the product or service you created see attachment for this.

Even though you have "created" a product or service, the applications and research in this section will be real.
Identify your target market. Provide a specific demographic profile and rationale for this decision. Another source that may help you: The US Census Bureau's American Fact Finder. Consider the size of the market and its purchasing power. Research is required to back-up your selection and to provide statistics to show that it is a viable market.
Analyze your competition. Who are they? Who are the biggest players? How large is the market? What are the trends/forecasts in the industry? How does your product/service fit in? Hoover's Pro in the Library is a good tool for this section; it may be accessed under "Find Web Resources"

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The product created for this assignment has a very wide target segment. The product can be useful for people of all ages, starting from teenagers to old people who often forget the location of their daily use stuff. Therefore, the organization need to develop targeted strategies by segmenting this wide target segment further into sub-target segments. For example, the product would widely appeal to middle age people such as busy executives, working ladies as well as older people who often have weak memory.

Another segmentation can be based on psychographic factors such as lifestyle. People living in urban areas and leading a very hectic ...

Solution Summary

Even though you have "created" a product or service, the applications and research in this section will be real.
Identify your target market.

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