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 learning activity, 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. called “Media Popup,” made by the startup company Porttel, Inc. The multimedia center is a glossy compact entertainment box that is 10 x 18 inches. It includes a 20 x 20-inch screen that is folded in half for storage; 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 1 year — all for $399. It is available in three different colors (you provide these).
Business Memo: You are a marketing assistant at Porttel, Inc., tasked with providing a business memo (i.e., an internal company document) to the U.S. executive management team of Porttel, 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.
Checklist:
- Identify either a consumer or a business market.
- Describe at least three variables from each form of market segmentation (demographics, geographics, psychographics, and behavioral).
- Describe market segments: (1) segment size, (2) growth potential, (3) purchasing habits, and (4) profitability using scholarly research.
- Describe the target market.
- Explain a marketing mix (product, place, promotion, price) for the product.
In a minimum of 2 pages (500 words) in a Microsoft Word document, write the business memo using the current APA format and citation style to cite and reference your scholarly sources (see Unit 1 Reading area for APA assistance). Your paper should be original, have additional title and reference pages, and have correct spelling, punctuation, and grammar.