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Market Segmentation

In: Business and Management

Submitted By funkypanda
Words 895
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Segmentation, Targeting, and Positioning

(One-two pages. Use 1” margins, single spacing, and font size 12)

A) Identify two potential and viable target markets for your product/service. (Make sure that at least three different segmentation variables (see Table 8.1 on page 246 of the text) are represented in your profiles (=descriptions) of each segment. Guidance: Remember that a target market profile is a statement of the description of the group of consumers that you will be targeting. This should be expressed in one or two sentences, and should include an array of descriptive representing at least three of the four categories of segmentation variables we learn in the course. After the complete profile is presented (i.e. in one or two sentences), the treatment here should direct itself to explicitly showing how each category is represented. Make sure that the profiles presented are quite distinct from one another. (N.B. Should the team choose a business-to-business good/service for the project, they will have to familiarize themselves with the array of segmentation variable categories for business-to-business products)
The first potential target market would be Canadian males and females aged between the ages of 20 to 34. Those persons are either single or in a relationship, not married, with each an average of 20 000$ to 29 999$ a year, and are outgoing in their daily lives.
The reason we’ve decided to target this market is because nowadays, many young adults feel that their choices need to be displayed to their environment, and to their circle of people. Because ¾ of them are new to the job market, they feel that whatever they carry on them, is part of their image in society, and the service that we’re offering helps fulfil this need. They care about how people look at them, and believe that people judge them depending on what they look like, or how they...

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