Objectives:
• Describe the bases commonly used to segment consumer markets.
• Identify the distribution strategy and target market segmentation of an existing product.
• Determine the distribution strategy and target market segmentation for a new product.
In a Word document, answer all of the following:
Part I:
Target Market: Revisit your favorite product identified in Assignment 1, Section I.
• Define your favorite product's target market using the five bases of segmentation: geographic, demographic, psychographic,
benefits sought and usage rate.
[minimum length: 100 words]
Distribution: Where is this product sold?
• Does the company use an intensive, selective or exclusive distribution strategy?
• Explain how both the pricing (from Assignment #2) and distribution strategies for your favorite product are appropriate for the target market.
[minimum length: 200 words]
Part II:
Target Market: Define your new product's target market using the five bases of segmentation: geographic, demographic, psychographic, benefits sought and usage rate. [minimum length: 100 words]
Distribution: Where will you want to sell your new product?
• Would you use an intensive, selective or exclusive distribution strategy?
• Explain how both the pricing (from Assignment #2) and distribution strategies for your new product are appropriate for the target market.
[minimum length: 200 words]