TOPIC 1: Analysis of Market Segments

Most marketers find that segmenting the market makes for an effective use of marketing resources.Segmenting markets is difficult and often requires marketing research to find out how consumers think, behave, and basic information such as age, gender, etc. Therefore, defining market segments is aided with the generic segmentation bases, behaviors, demographics, geographics, and psychographics. Be sure to understand this as it is discussed in the Week 4 readings. Also understand that these are generic categories, not segments themselves. Within each of the generic bases are a number of variables from which marketers can choose which ones are relevant for a usable market segment.

All of a company's marketing mix should focus on the market segment, now called a target market. In other words, the offering should be what the target market wants, where it wants it, how much it wants to pay for it, and how the company communicates with the target market. If done right, we can usually determine the characteristics of a target market by analyzing the advertising.

Your job in this learning activity is to find an advertisement, and tell us who you think is the target market. The hints are in the type of music used, the spokesperson's persona, the approach to the marketing communications message, the types of people used in the ad, the words chosen for the ad, etc. All this should tell you to whom the marketing communications is intended to influence.

You can searchyoutube.comfor your favorite commercial or choose your advertisement from the Clio winners.

• Searchyoutube.comfor a favorite advertisement; or
• Searchhttps://clios.com/awards/winnersfor advertising industry award-winning ads (called,Clios winners)

If you find your own ad to analyze, be sure to embed or link it when you post it to the Discussion Forum. Then identify at least three of the characteristics you think comprise the target market. Make your choices using Table 4.1 from the main text as your framework. But, don't merely say demographic/age. Tell us what age, or psychographic/values. Specifically, note the value such as family or thrifty.

TOPIC 4: Repositioning

Mature products sometimes need to be repositioned. Finding a new need for an existing product is usually a reason for repositioning. Many years ago, Arm & Hammer baking soda found a new market by repositioning the product for those wanting a clean-smelling refrigerator. The company did a similar repositioning when offering the product as a teeth whitener.

• Can you think of an existing product that has been repositioned by finding a new market with a different need than the original product? What is the product and how was it formerly targeted?What is the new target market and strategy?
• Or, can you think of a mature product that is ripe for repositioning?What ideas do you have for a new market for this product?