Determine a Market Segmentation (Team)
In your Marketing team, you will decide on a product or service to market. You will be marketing this product or service in a new area where it has not been marketed. This might be to a different age group, ethnic group, or another segment of the population. You may choose the area from the following list:
- Low-income area of an inner city
- Upscale, trendy area of the city with many loft apartments
- Suburban area with tract homes
- Rural farm area
Then decide what product or service you will market.
Using research on the type of area, determine who the customer will be, the demographics on the customer, the needs, and marketability in the area.
Then as a team come up with a proposal for moving into this market.
Refer to the site Developing a Market Segmentation. Clearly outline the pros and cons, and include the analysis you completed above. You will use this choice of product/service and location to develop a marketing plan as you move through the course.
Case Study Apple (Individual)
Work through the case of Apple’s Segmentation strategy. You will need to do further research to find out more details. You can also interview employees at Apple or people who use Apples. Use the following questions to help focus your analysis.
- What market segmentation has Apple used?
- What segments have they identified? How?
- What effect has market segmentation had on product success?
- What does Apple’s strategy suggest for other companies?
- Where are Apple stores located? Why?
