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.
1. Identify either a consumer or business market.
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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).
In a minimum of 2 pages (500 words) in a Microsoft Word document, write the business memo using the 6th edition APA format and citation style.
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