Thursday, 4 May 2017
Segmenting Consumer and Business Markets Segmentation
Segmenting Consumer and Business Markets Segmentation bases (variables)
are used to identify particular characteristics, attributes, or traits
of consumers or businesses. Consumer markets are typically segmented
using 5 bases, including geographic, demographic, psychographic,
benefit, and usage-rate segmentation. Execute the following four steps
to complete this Discussion assignment: Watch the following animated
explanations on segmentation of markets to develop a strong
understanding of the concepts: Understand the characteristics of markets
and market segments. Understand the criteria for successful market
segmentation. Understand the bases commonly used to segment consumer
markets. Understand the steps involved in segmenting markets. Watch the
following video on how the Food Network® uses segmentation and target
marketing to appeal to consumers: View it here Choose a cooking show
from the Food Network® website (2014 Television Food Network G. P.) at:
http://www.foodnetwork.com/shows.html to study and answer the questions
below. Using research from Chapter 8, to help substantiate your
understanding of the segmentation and target marketing concepts, answer
the following questions related to the segmentation and targeting of
consumer markets for your chosen show: Identify a minimum of three (3)
segmentation bases that might be used to segment the market for your
chosen show. Describe the specific reasons each of the three (3)
segmentation bases might be used to segment the market for your chosen
food show. Describe the type of target marketing strategy that might be
used to reach the consumer for your chosen food show. Discuss the
product differentiation strategy used to distinguish your chosen show
from the rest of the shows on the Food Network® website (2014 Television
Food Network G. P.). Describe the most likely positioning base or bases
that might be used to appeal to consumers in the target market for your
chosen food show.
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