Segmentation and the Target Market
This competency assessment assesses the following Outcome:
MT219M3-3: Describe market segmentation and target marketing in a case scenario.
Using the information on the target market, original research on the Internet, read the scenario and respond to the checklist items in a business memo format.
Case Scenario: The product is a portable multimedia center, to be marketed in the U.S., called Media Popup and made by the startup company Portaltron, Inc. The multimedia center is a glossy compact 1410 entertainment box. It includes a screen with optional additional screen extension that pops out of the right side; a computer keyboard that folds down; four surround-sound mini-speakers that can be adhered to any hard surface with the stick strips at the back of each speaker; and a subscription to streamed movies, music, and videos for 2 years all for $499. It is available in three different colors (red, black, grey, and white).
Business Memo: You are a marketing assistant at Portaltron, Inc. tasked with providing a business memo (i.e., an internal company document) to the U.S. executive management team of Portaltron, Inc. concerning the checklist items provided below.
Write a minimum 500-word original business memo. In a concise manner, describe to executive management the data you will analyze to determine a potential market for this product. State your purpose in the opening paragraph and provide sufficient information to explain the required items. Finally, provide a concluding paragraph to summarize your suggestions.
1. Identify either a consumer or business market.
2. Describe a minimum of four (4) bases each for segmenting at least one market (see Chapter 8).
3. Identify four (4) segmentation descriptors (e.g., if a company chose usage-rate segmentation they might decide between heavy and light users).
4. Explain your rationale for the four (4) segmentation descriptors.
5. Describe a minimum of 4 factors of the target market.
6.Identify a marketing mix (product, place, promotion, price) for the product.
6. In a minimum of 2 pages (500 words) in a Microsoft Word document, write the business memo using the current APA format and citation style.