Discussion: This week we’ve learned a great deal about market segmentation in marketing, including the power and perils of demographic targeting. As you build out your Value Proposition Statement, Value Proposition Canvas, and Buyer Personas for your project, consider the impact of demographic segmentation, including the demographic changes/generation gap as outlined in Marketing 5.0Links to an external site. Chapter 2, as well as the cautions about generational targeting outlined by our additional resources. Please respond to the following prompts in your initial post:
- What ways do you see yourself utilizing demographic information in your project? (please be sure to briefly describe your project).
- How do you see generational targeting influencing your buyer persona and value proposition canvas?
- How would you guard against bias and discrimination and stereotyping as you build out your buyer persona and value proposition canvas?
Assignment 1: Using the Value Proposition Statement template from our Week 1: Lecture #9 - Lesson 8, craft your project's Value Proposition Statement. Here is the template to help you:
For [your target market] who [target market need], [your brand name] provides [main benefit that differentiates your offering from competitors] because [reason why target market should believe your differentiation statement.]
Assignment 2: Taking what you have learned last week and this week about Value Proposition Canvas and Buyer Personas, create your draft Value Proposition Canvas and Buyer Personas for your project organization. Please keep in mind that you need to differentiate between Business to Business and Business to Consumer, and the templates you use for your Buyer Persona will be different based on your approach.
This reading provides great examples of both B2B and B2C templates: "10 best persona examples and how to create your ownLinks to an external site.."
You may also find the following helpful:
- Information on Buyer Personas: Week 1: Lecture #9 - Lesson 8: Pulling it all Together: Marketing Strategy
- How to Create Detailed Buyer Personas for Your BusinessLinks to an external site.
- The Value Proposition Canvas Instruction ManualDownload The Value Proposition Canvas Instruction Manual
- VPC Blank Template: ATTACHED
Readings & Resources
- Week 2 lesson
- eBook: Kotler, P., Kartajaya, H., & Setiawan, I. (2021). 1st edition. Marketing 5.0: Technology for humanityLinks to an external site.. John Wiley & Sons. - Chapter 1 and Chapter 2
- eBook: Siano, M. (2020). Consumer behavior theory: A quickstudy reference guideLinks to an external site.. BarCharts Publishing.
- Article: Qualtrics. (n.d.). Market segmentation: Definition, types, benefits & best practicesLinks to an external site..
- Article: Qualtrics. (n.d.). Demographic segmentation: What it is and how to use itLinks to an external site..
- Article: Qualtrics. (n.d.). What is psychographic segmentation? A beginner’s guideLinks to an external site..
- Article: AdWeek (2024, October). Generational Marketing Is Dead and Rather Irrelevant.Links to an external site.
- Article: Parker, K. (2023, May 22). How Pew Research Center will report on generations moving forwardLinks to an external site.. Pew Research Center.
- Article: Keeter, S., Brown. A., & Popky. D. (2024, February 12) Who Are You? The Art and Science of Measuring IdentityLinks to an external site., Pew Research Center. Required Reading pages 4 - 9 and Chapter 4. Optional reading the rest of the document.
- Article: Vogels, E.A. (2019, September 9). Millennials stand out for their technology use, but older generations also embrace digital lifeLinks to an external site.. Pew Research Center.
- Article: Ghosh, I. (2021, May 7). Timeline: Key events in U.S. history that defined generationsLinks to an external site.. Visual Capitalist.
- Article: Fontanella, C. (2023, June 9). What is omni-channel? 20 top omni-channel experience examplesLinks to an external site.. HubSpot.
- Article: Papadamos, A. (2024, November 15). Ethical Considerations in AI-Driven Customer SegmentationLinks to an external site.. United States Artificial Intelligence Institute.
Optional Resources
These additional resources are provided to help with this week's project assignments.
- Article: The Value Proposition Canvas Instructional ManualDownload The Value Proposition Canvas Instructional Manual
- Article: Vaughan, P. (2022, October 14). How to create detailed buyer personas for your businessLinks to an external site.. HubSpot.
- Video: CrashCourse. (2019, August 28). Value proposition and customer segments: Crash Course business - entrepreneurship #3Links to an external site. [Video]. YouTube. (12:02 mins).