I have to create a Venn diagram. First step I have to create an original product. Describe the product and explain its use and purpose.
Second step I have to create a Venn diagram. I have to Mark each segment (three or more) of the market that my product will impact. also, Explain how it will impact that market segment. Elaborate on the depth and breadth of the market idea.
·I want to create a product that will have a large market share.© BrainMass Inc. brainmass.com October 25, 2018, 9:49 am ad1c9bdddf
The solution uses venn diagrams to show how they can depict market segmentation and target marketing for a unique original product. Attached in Word.
Displaying data graphically in a Venn diagram
Deliverable Length: 2 page memo with Diagram and Table
Market segmentation is known as the process of dividing up a market for goods or services into smaller groups. For example, a market may be segmented into geographics (location), demographics (income, age, gender, etc.), and psychographics (personality, lifestyle, values, etc.).
After running various advertisements, you have received the statistics from each market segmentation. A total of 1,800 ads were run to try and reach the various segments. The following lists the breakdown of each:
680 for a geographic location
500 based on demographics
440 based on psychographics
385 based on both geographic and demographics
245 based on both geographic and psychographics
325 based on both demographics and psychographics
245 based on all three segments
Write a memo to your boss that displays the data graphically in a Venn diagram. Also, describe example scenarios listed below by first constructing them in set notation (use the addition principle to show the union values) and then give the actual values. Then, construct a table to summarize the data.
Ads that were run either for geographics or demographics
Ads that were not run for geographics
Ads that were run for geographics and psychographics but not for demographics
Ads that were not run for any of these segments (e.g., behavioral basis)
Ads that were not run for geographics but were run for demographics