MT219-3: Describe market segmentation and target marketing in a case scenario.
Using the information on the target market you learned from reading Chapters 6 and 8 in your text, original research on the Internet, and the various Learning Activities provided, 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. market, called “Media Popup” and made by the startup company GlobeMedia, Inc. The multimedia center is a glossy compact 12ʺ×12ʺ 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 four different colors (black, silver, white, and blue).
Business Memo: You are a marketing assistant at GlobeMedia, Inc. tasked with providing a business memo (i.e., an internal company document) to the U.S. executive management team of GlobeMedia, 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.
Checklist:
1. Identify either a consumer or business market.
2. Describe your bases for segmenting the market (i.e., demographics).
3. Identify segmentation descriptors (i.e., age, occupation, income).
4. Explain your rationale for the segmentation descriptors.
5. Describe a target market.
6. Identify a marketing mix (product, place, promotion, price).
