Assignment:
Market Segmentation: Involves aggregating prospective buyers into groups or segments that
1. Have common needs and
2. Will respond similarly to a marketing action.
Develop a Market-Product grid and estimate the size of markets
Forming a Market-Product grid for company
Estimating market sizes for company
As an example:
|
Market Segments Product or Innovation
|
|
General
|
Where they live
|
Breakfast Lunch Dinner
|
|
Student
|
Dormitory
Apartment
Day Commuter
Night Commuter
|
0 1 0
1 3 1
0 3 1
0 0 3
|
|
Nonstudent
|
Faculty or Staff
Live in Area
Work in Area
|
0 3 1
0 1 2
1 3 1
|
Required:
Using your new knowledge of market segmentation, pick a fast food/casual dining chain (other than Wendy's or Subway) and create a market-product grid.
What recommendations would you make regarding potential opportunities for the food chain, based on you grid? For example, if you were to create a market-product grid for Subway, you could then and use that chart as a rationale for the company to add breakfast items to the menu.
Please write 200 words. Please write in your own words and follow ihe instruction and don't copy from anywhere. This is the 2nd time, I'm posting the question. Please write the right answer.