Reference no: EM133443027

Segmentation is the process of dividing consumers into groups with similar attributes. Chapter 9 discusses various ways to segment a market: by geographics, by demographics, by psychographics, by benefits, and by user/loyalty. The reality of segmentation is that most marketers use some combination of these to identify their target market. Pretend that you are a product manager for New Balance. Your team has been commissioned to market an innovative shoe. This shoe is a cross-trainer that has the ability to monitor calories burned, heart rate, steps and distance traveled. The shoe is able to communicate information via a tiny earbud with Bluetooth capability. The ear bud captures this information which can then be downloaded into a software program for users to track their progress.

Your task a marketing manager is to do the following:

1. Segment the market into various groups based on a combination of psychographic, demographic and geographic segmentation methods

2. Identify the best target market based on profitability and reachability.

3. Discuss how you would position the product so that it appeals to the target audience you've identified in question 2.