Assignment:
Write a 1,050- to 1,400-word paper in which you research the current customer base, buyer behavior, demographics, psychographics, lifestyle, geographic area, benefit segmentation, and user segmentation for the product or service.
Identify the ideal target market for your Learning Team's selected product or service. In your paper, include the following:
• Provide a specific description of the target market, which should be measurable, accessible, sustainable, differentiable, and actionable.
• Include the total marketing budget. This is when the cost of acquisition is not greater than 10% of the product retail price or one month of an annual service.
• Estimate the size of the market and estimated penetration percentage.
• Provide justification for your answers.