That is base on the tble above 1) Next you want to develop profiles for each seg
ID: 363738 • Letter: T
Question
That is base on the tble above
1) Next you want to develop profiles for each segment. You will provide detailed descriptions of each segment. Describing them in terms of their needs, behaviors, preferences, demographics and shopping styles. You will evaluate the attractiveness of each segment and select your target market. Evaluating attractiveness can be based on several factors like market size, expected growth, competition, cost and compatibility with the organization’s resources
Major Segmentation Variables for Consumer Markets Geographic Segmentation World region Count Region of count Population size North America Canada, Mexico, Cuba, the united states, N/A N/A Urban, Suburban, Rural Demographic Segmentation 18+ or teens, young adults, middle-aged, seniors male, female 1 and up young couple, young couple with children, single-parent family, older couples with grown children, divorced and son on Must have a source of income professional, union worker, academic, small business owner, sales, student, retired, homeworker, unemployed college or trade school university undergraduate, postgraduate N/A Generation X, millennial Gender Family size Life cycle Household income Occupation Education Ethnic or cultural Group Generation Psychographic Segmentation Social class Life lower lowers, upper lowers, working class, middle class, upper middle, lower upper, upper uppers Athletic type, student's, workers, family, etc... Poor management skills, ambitious, goal oriented Personalit Behavioural segmentation Occasions Benefits User Status User rates Regular occasions Quality, service, economy, convenience, speed Non-user, potential user, first time user Medium None Unaware indifferent Status Readiness Stage Attitude toward productExplanation / Answer
The segments can be divided based on various combinations of variables. I would make segments based on age and occupation. I would divide the people in 4 segments:
1.18+ or teens who are students or unemployed- The people belonging to this group are athletic but they don't have any disposable income. They are still dependent on their parents for money and support. This category of people could be good future prospects when they start earning money. Their attitude towards the product is indifferent.
2. Young adults who are unemployed- This category of people would be undergraduates looking for work. They would have poor management skills. The marketer should keep them on its radar because they could become potential consumers.
3. Middle aged professionals- These people would require ease of use, convenience and they would be willing to spend money on different products or services. This would be the most profitable category if the level of service and the quality of the product/service is maintained. The expected growth of this segment would also be high as the consumers from the first two segments are likely to join this group in the near future. These people would also be goal oriented.
4. Senior people who are professionals or retired- This category would be second to the middle aged professionals category in terms of attractiveness. They won't be very ambitious but goal orientation would be there.They would be older coupples with grown children. They could be used to promote the company's products to their children.
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