1. One of the best things about studying marketing is that each of you already know so much about it. This is the most marketing saavy generation of consumers and I know most of you had opinions of ads and other marketing strategies businesses use, long before this class started.
This week, we’ll:
• Share examples of ads we think are “very effective” (GOOD) or “not at all effective” (BAD) It can be anything from a Billboard to a pop-up ad (or shop) to a traditional advertisement in a magazine or newspaper.
• Describe the marketing tool – what makes it good or bad and we sure to include a link so we can judge for ourselves!
I can’t wait to see what you come up with!
2. This week I’d like you to think about market segmentation and how a company can market the same product differently to different segments. The classic example is McDonalds. Here are some of their markets:
• Kids: They promote happy meals with toys and healthy alternatives like apples and milk, for kids (and parents, mostly moms.)
• Teen agers, college students, & lower income individuals: Dollar menus.
• Seniors: They promote free coffee and senior discounts.
• Workers/laborers: They offer quick service and different options for workers trying to pick up a quick lunch or dinner in McDonald’s basically offers the same products, but they market them differently to attract each segment.
Your task is to Identify a specific product and describe at least one of it’s markets.
• Share the examples and your opinion about the strategy they are using for the segment you identify. Let’s look for some really niche (highly targeted) markets. For more information on Market Segmentation check out : https://www.britannica.com/topic/niche-market-segment
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