Reference no: EM133058522

Bob has opened a new discount brokerage firm called ABC Discount Brokerage and its mission statement is fulfilling customer needs with excellent customer service and providing them with extensive financial planning services.

Q1. Describe Bob's target client segment(s) Bob may choose to be highly specialized (targeting 1 segment), or have up to 3 target segments of various importance and size

Bob cannot choose to provide his services to everyone, which would mean that he does not have a segmentation strategy. Businesses that do not have a segmentation strategy rarely succeed. Bob cannot be all things to all people.

What is the basis of Bob's segmentation?

a. Is Bob segmenting by asset levels, life-stage, profession (e.g. corporate vs. self-employed; specific profession, geography) or other factors? Be as specific as possible; Bob must have at least 3 segment characteristics. It is not sufficient to segment only based on wealth, since wealth can be accumulated in different ways (e.g. inherited, by profession, etc.).

b. What key factors determine whether Bob's target clients will do business with him?

Q2. Describe and justify how Bob will market his services for ABC Discount Brokerage. Bob's marketing strategy must be relevant to his client segment for example using seminars, digital, PR, referral partnerships, professional associations, etc.