Each market segment description must include at least three(more if needed) of the characteristics from amongst any of thefour bases categories, e.g. one from demographic variables, one ortwo from psychographic variables, and one from behavioralvariables, or a similar scheme related to walt disney stuido Besure to explain your choices based on what customer need theproduct or service offering can fill for each segment.
Target market. Select one of themarket segments you described in (1) above as the one you believeis or can be the most profitable for your product or serviceoffering and explain why you feel they can represent growth for thecompany. Refer to the six criteria for an attractive market segmentas described in course content under ‘Selecting Target Markets’.Name your target market so you can use this name throughout all ofyour remaining writing assignments. Your name should be descriptiveof the segments' characteristics like 'savvy young shoppers' or'educated baby boomers', or 'urban hipsters', or the like. The goalis for your faculty member to get a mental image of your targetmarket for the remainder of the semester.
Target market strategy. Should thecompany focus all their resources on this new target market(concentrated marketing) or should they continue to pursue both thenew and the existing target market as well as other market segments(multi-segment marketing)? Alternatively, is the market sosaturated might they be more successful by focusing solely on aneven more narrow market segment, perhaps an even narrower version(niche marketing) of your selected target market, as their bestchance for growth? What is your reasoning?
Positioning. Draw yourself aperceptual map as illustrated in the week's readings or use thewebsites noted in the directions. Be sure to pick two criteria thatare important to your new target market for your two axes, perhapstwo of the criteria you used in Week 1 in your competitiveanalysis. Map at least the two major competitors you noted in theprevious writing assignment and add any others that you may havediscovered since then. Describe what the perceptual map is tellingyou regarding how each product is perceived in the minds of the newtarget market you described above. You may have to make a series ofeducated guesses for some of the data points. Ideally, you want tofind uncontested space. If your product overlaps with a competingoffering discuss whether or not your product or service should tryfor an ‘uncontested’ space on the map and ‘reposition’ itself; orif it should keep the same position and compete head on with theother product. (You will have a chance to make changes to theproduct, the pricing and the distribution to change the product'spositioning and find uncontested space in the comingweeks).
Thank you
