Segmentation Criteria and Market Selection
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Identify the segmentation criteria that will impact your target market selection. Identify your target market. The product is a microchip chip injected into your palm which will be used for identification and debit card information. We conducted a survey and the target age group is 18-25
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Solution Summary
This solution identifies a segmentation criteria that will help impact the target market selection.
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Let us go over segmentation. You have an entire population, but everyone will not be interested in the chip. You need to conduct market research to find out WHO would be interested in the chip. These characteristics are then used to segment your population into your customers - who would be your target audience.
One of the main segmentation criteria is age - but this is already established - we are looking at people aged 18-25.
Now, there are still a lot of people in this age group, we ...
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