Task 3 Market Segmentation and Target Markets
Market segmentation involves dividing a larger target market into smaller segments of consumers, businesses, or countries that appear to have common needs, interests, and priorities. It is then possible to design marketing strategies specifically to target that segment. You were introduced to this idea last week when you completed the the case study on marketing to millennials. Now you will dig deeper into what this means and the impact.
Read ebook Part 3
- Chapter 8: Marketing Research: From Customer Insights to Actions
- Chapter 9: Market Segmentation, Targeting, and Positioning
Find out more specifics about segmentation.
- Listen to
Study the examples of market segmentation for three companies. Coca Cola Segmentation
Think about how each company has segmented its target customers. How are they alike and different? What categories did each use and why?
Locate another company of your choice and do a market segmentation analysis of the company. You can use a company on the Internet that has significant information available. You will need to contact the company for more market segmentation information. Or you can visit a company that is local to you, make observations about their customers, and talk to managers about market segmentation.
Submit a graphic representation of the company’s market segmentation with references to where you obtained the information.