Construct a market segment for each of these markets

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Reference no: EM133271950

Assignment:

I chose shoes as the product and Haircut as the service

Rational, value for money

The consumers in this market segment are more involved in the purchase decision and look to make decisions on a "best product solution" basis.

Questions:

Keep in mind that there are more segments listed here than you will need - it is likely that only some of these segments will be appropriate for you. Ideally, you should look to select 4 to 8 of the market segment examples and then fine tune them for your requirements.

1. Choose two products/markets. One should be a physical good and one should be a service industry. (I chose shoes as the product and Haircut as the service)

2. Using the above list of market segment ideas, construct a market segment for each of these markets.

3. How similar/different is your segmentation approach between the two markets.

4. Share the group's various market segmentation approaches. What were the common segments utilized?

5. In your opinion, select a market segmentation approach presented by a member of your group that the entire group feels would be the most effective for helping select a target market and developing an appropriate marketing strategy?

Reference no: EM133271950

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