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Assignment on Market Segmentation and Targeting Markets For this assignment you will select an obscure product and then describe the target market for the product.
Assignment on Market Segmentation and Targeting Markets For this assignment you will select an obscure product and then describe the target market for the product. Below are more details on what you should do. You should select a real product (a good or a service) that already exists but that not many people would know about but that if other students saw it they would understand it. For example, when I created this assignment there was a new product that was just announced from Bissel that might make it easier for dog owners to wash their dogs. I first created this assignment in early 2017 and the product wasn't going to be available until May 2017 so it was not well known. But, anyone seeing a video of the product they would immediately understand it. The product does not have to be complicated; for example a new style of snow shovel would be a fine example. In summary, you should find a product that is either new to the marketplace or that is not well known. You must post your assignment in Discussions using the format below. Also, the subject line of your discussion posting must include the name of your product. Only one student can use a particular product for this assignment and the first student to post will essentially claim that product. Make sure to check the list of products that have already been written about written about before posting your submission. 1) What is the name of the product you found? Also, provide a web address showing an example of the product. 2) Next, identify the market. Is it targeted at the industrial or the consumer market? 3) Using the ideas from the book, describe at least one demographic segment you believe would fit into the target market for the product you selected. 4) Using the ideas from the book, describe at least one geographic segment you believe would fit into the target market for the product you selected. Make sure you read the section on geographic segmentation carefully because your initial thoughts might be to write that it does not apply to your product. 5) Using the ideas from the book, describe at least one behavioral segment you believe would fit into the target market for the product you selected
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