Discussion 1
Finding and Targeting Your People
Geodemographic Segmentation: Finding Your People
Geodemographics is a common and effective means to segment potential customers. Leveraging both demographic (e.g., gender, age, income, marital status) and psychographic (e.g., habits, hobbies, spending habits, values) data, households can be classified into segments and the relative attractiveness of these segments for your product or service can be determined.
In this interactivity, you’re going to take a geodemographic system (Claritas (Links to an external site.)) and determine which segment best describes you. Then, exploring map data, you’ll assess how common your segment is for where you live and where you could live amongst more people like yourself! Finally, with knowledge of your segment’s profile, you’re going to suggest a promotion for BUDWEISER targeted specifically to your segment.
Guided Response:
Visit the Claritas Segment Details page: https://claritas360.claritas.com/mybestsegments/?ID=64&menuOption=learnmore#segDetails
and determine the following:
The lifestage group and segment that best matches you
How common your segment is where you live
Where you could move to find more of “your people”
On the top of the page, click on “Zip Code Lookup”. Enter your zip code and hit submit. Review the information including the “Households by income”, “Household Composition”, “Popularity by Age”, and “Popularity by Race & Ethnicity”.
To what extent, this information matches you and your household? Discuss details.
To what extent, this information matches what you found in the previous section. Discuss details.
Create a promotion from your mentor marketer to target your segment.
Imagine you’re executing a targeted promotion. Tell us the product or service and deal that you will pitch your segment and justify its appeal.
Feel free to package products or services together.
Your segment specific targeted promotional offer and rationale.
Your response must be at least 300 words and also refer to your textbook.
Find peers who picked a different segment than you. Argue why their identified product/service would be more, equally or less appealing to your segment. Peruse their segment’s summary page as necessary.
Discussion 2 Foreign Market Entry Podcast
Foreign Market Entry Podcast
As you are likely aware, BUDWEISER just do business in the U.S. So, in this interactivity, we’re going to research their past entry into a foreign market. But rather than writing about it, we’re going to talk about it — by creating a short podcast.
In a 3-5-minute recording, (type out a script for what I should say-3 PAGES)
Introduce yourself.
Identify your mentor marketer and the relevant market before answering the questions below.
Identify a specific country to analyze BUDWEISER entry into.
First, identify the countries your mentor marketer does or did business in. Check out the corporate website or the latest annual report.
Then, search BUDWEISER in business periodicals such as Forbes in conjunction with country names or terms like “foreign” or “international.” See which markets have been written about and select one.
Research your chosen market to answer these questions:
When did your mentor marketer enter this foreign market?
What specific challenges did entering this market present? (e.g., cultural norms, language barriers, local competition, government regulations, economic conditions, etc.). Identify at least three.
What changes were made to the marketing formula in entering this market? What other changes were needed? Cite at least three examples, linking each one to a marketing P. You can repeat Ps more than once.
How successful was the entry into this market? Is the brand still in the market?
Identify and create proper APA citations for at least three different sources.
Try to explore different types of sources (periodicals, videos, annual report, etc.). Check the Forbes archive and other Ashford University resources as needed.
As you will be creating a podcast, in-line citations are not required, but you will need to document your sources.
Be sure to script or outline for your podcast.
A script or outline will help you maintain a flow and ensure that you cover all of the topics you are meant to address.
