Overview
Instructions
Introduction
Companies today recognize that they cannot appeal to all buyers in the market place or at least not to all buyers in the same way. Buyers are too numerous, too widely scattered and too varied in their needs and buying practices. Moreover, the companies themselves vary widely in their abilities to serve different segments of the market. Most companies are being choosy about the customers with whom they wish to connect. They are attempting to connect in a deeper, more personal way. Because buyers have unique needs and wants, each buyer is potentially a separate market. However, most companies look for broader classes of buyers.
Instructions
Go online and research information on two different market segments. As one of the two segments that you select you will choose the segment to which you belong.
Suggested segments include but are not limited to: Baby Boomers, Gen Xers, Gen Y, Gen Z, Latinx market, Asian market, African American market, LGBTQ+ market, Grey or senior market, Native Americans, another age cohort, or any market segment that you are familiar with. Have fun with this assignment; there is quite interesting information available and very interesting to read and research.
You will write a minimum of a two-page paper answering the following questions. Please be careful to check your spelling, sentence structure and grammar.
Describe the two segments you researched. What are the distinguishing characteristics of the segments? Look at demographics, psychographics, lifestyle, geodemographics and other segmentation variables for each segment. Discuss where your research came from.
Provide an example or examples of consumer product companies that are doing particularly good job marketing to the segment(s) you researched and describe their marketing strategies.
What did you find interesting about what you read?
What additional products do you think might appeal to the markets / segments you researched and why?
Into which market / segment do you fit and why?
Guidelines for writing the paper
You will divide your paper into the 5 sections above. Number them and answer all questions completely and thoroughly. Be careful to use a spell check and correct sentence structure. Use a paragraph style format, double space and 12 point font.
It is critical that you document your sources using correct APA style and include a reference page. You paper will be checked for the use of A I.