Segmentation and the Target Market Memo

Segmentation and the Target Market Memo

Date: June 28, 2022

To: The U.S. Executive Management Team

From: Marketing Assistant at Porttron, Inc.

Subject: Segmentation and the Target Market for Media Popup Player

The aim of the memo below is to discuss the product manufactured by Porttron Inc. The item’s name is Media Popup and is primarily developed to provide the best media experience to consumers. Attached with a screen, four speakers, a keyboard, and a one-year movies, videos, and music subscription, the consumers, get an excellent encounter with the media player.

The Market for the Product

The product’s market will be the consumer market since the item is manufactured for the consumers (Brotspies & Weinstein, 2017). The media popup player is not suitable for the business market since it could not meet the requirements of the above market, but it would suit the consumer market. Our assignment writing services will allow you to attend to more important tasks as our experts handle your task.

Bases for Segmenting the Market

The geographic segmentation will be the United States and international trade. The demographic segmentation will be individuals aged 16 years and over and people who work on their computers throughout the day or use headphones while working. Psychographic segmentation will be individuals who work better with background noise such as music. Lastly, the behavioural segmentation will be people who already listen to music online.

Segmentation Descriptors

The target market is individuals aged 16 years and over. The above group is mainly people who operate on computers most days and consume music while going about their businesses. The target market is people with a revenue of 20,000 dollars and above. The subscription fee for the media popup player is 21 dollars a month or 499 dollars per two years.

The Rationale for the Segmentation Descriptors

The segmentation is based on the above grounds because the media player will meet the requirements of the young people, either in school or working (Qian, 2017). Moreover, the company targets people with different incomes who can afford the subscription fees and of various ages who love music, videos, and streaming videos. Furthermore, the target group is people who prefer listening to music while working.

Target Market

The first group of the target market is teenagers who watch videos or listen to music on school buses, in lunchrooms, or while studying or doing assignments. Teenagers are one leading group that listens to music to run away from the real world. Some teenagers claim that music helps them focus better and even induces sleep. The second target market is individuals whose work involves computers. A good number of the above group prefer having some music playing in the background. The last target market is people who love streaming TV shows and movies. The above group cannot obtain cable services for 21 dollars a month. Streaming movies will save money since some people cannot afford cable service fees but can afford 21 dollars to stream movies monthly.

Marketing Mix

The product can be sold in any large store. However, the best avenue to market the product is online through social media platforms. Marketing the product on social media will draw a lot of attention to the product (Camilleri, 2018). Further, send out flyers to offices and businesses that use computers regarding the product. Additionally, send mail to teenagers regarding the medial popup player being available for only 499 dollars per two years. Teenagers can best understand the above figure if broken down to 21 dollars per month.

References

Brotspies, H., & Weinstein, A. (2017). Rethinking business segmentation: a conceptual model and strategic insights. Journal of Strategic Marketing, 27(2), 164–176. https://doi.org/10.1080/0965254x.2017.1384750

Camilleri, M. A. (2018). Market segmentation, targeting, and positioning. In Travel marketing, tourism economics and the airline product (pp. 69-83). Springer, Cham. DOI: 10.1007/978-3-319-49849-2_4

Qian, Y. (2017). Joyoung Soymilk Maker: Segmentation, Targeting, and Positioning. Kellogg School of Management Cases, 1(1), 1–4. https://doi.org/10.1108/case.kellogg.2016.000168

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MT219-3: Describe market segmentation and target marketing in a case scenario.

Using the information on the target market you learned from reading Chapters 6 and 8 in your text, original research on the Internet, and the various Learning Activities provided, read the scenario and respond to the checklist items in a business memo format.

Segmentation and the Target Market Memo

Case Scenario: The product is a portable multimedia centre, to be marketed in the U.S., called “Media Popup” and made by the startup company Porttron, Inc. The multimedia centre is a glossy compact 10ʺ×12ʺ entertainment box. It includes a screen with an optional additional screen extension that pops out of the right side; a computer keyboard that folds down; four surround-sound mini-speakers that can be adhered to any hard surface with the stick strips at the back of each speaker; and a subscription to streamed movies, music, and videos for 2 years — all for $499. It is available in three different colours (black, silver, and white).

Business Memo: You are a marketing assistant at Porttron, Inc. tasked with providing a business memo (i.e., an internal company document) to the U.S. executive management team of Porttron, Inc. concerning the checklist items provided below.

Write a minimum 500-word original business memo. In a concise manner, describe to executive management the data you will analyze to determine a potential market for this product. State your purpose in the opening paragraph and provide sufficient information to explain the required items. Finally, provide a concluding paragraph to summarize your suggestions.

Checklist:

Identify either a consumer or business market.
Describes a minimum of four (4) bases each for segmenting the market for at least one market (see Chapter 8).
Identify four (4) segmentation descriptors (e.g., if a company chose usage-rate segmentation they might decide between heavy and light users).
Explain your rationale for the four (4) segmentation descriptors for at least one market.
Describe a minimum of 4 factors of the target market.
Identify a marketing mix (product, place, promotion, price) for the product.
In a minimum of 2 pages (500 words) in a Microsoft Word document, write the business memo using the current APA format and citation style (see Unit 1 reading area for APA assistance).