In this journal entry, identify an opportunity that you like to explore, in terms of a new company that produces a good or service. Describe: 1) how you would segment the market, 2) who is the target market, 3) how will you position the product, and 4) which promotional mix lends itself to that target and position?
Let me give you an example of what your answer might look like.
I would like to open a bagel/coffee shop in my local neighborhood.
1) Segmentation- my primary segmentation variable would use demographics, personality, and interests.
Gave a specific example of the target market, marketing mix, positioning, segmentation of a wireless internet cafe/bagel & coffee shop.