MT219-3: Describe market segmentation and target marketing in a case scenario.
Using the information on the target market you learned from reading Chapters 6 and 8 in your text, original research on the Internet, and the various Learning Activities provided, read the scenario and respond to the checklist items in a business memo format.
Case Scenario: The product is a portable multimedia center, to be marketed in the U.S. market, called “Media Popup” and made by the startup company GlobeMedia, Inc. The multimedia center is a glossy compact 12ʺ×12ʺ entertainment box. It includes a screen with an optional additional screen extension that pops out of the right side; a computer keyboard that folds down; four surround-sound mini-speakers that can be adhered to any hard surface with the sticky strips at the back of each speaker; and a subscription to stream movies, music, and videos for 2 years — all for $499. It is available in four different colors (black, silver, white, and blue).
Business Memo: You are a marketing assistant at GlobeMedia, Inc. tasked with providing a business memo (i.e., an internal company document) to the U.S. executive management team of GlobeMedia, Inc. concerning the checklist items provided below.
Write a minimum 500-word original business memo. In a concise manner, describe to executive management the data you will analyze to determine a potential market for this product. State your purpose in the opening paragraph and provide sufficient information to explain the required items. Finally, provide a concluding paragraph to summarize your suggestions.
1. Identify either a consumer or business market.
2. Describe your bases for segmenting the market (i.e., demographics).
3. Identify segmentation descriptors (i.e., age, occupation, income).
4. Explain your rationale for the segmentation descriptors.
5. Describe the target market.
6. Identify a marketing mix (product, place, promotion, price).
In a minimum of 2 pages (500 words) in a Microsoft Word document, write the business memo using the 6th edition APA format and citation style.
Access the MT219M3 Assessment rubric.
Submit the Assessment to the Dropbox.
Disclaimer: This exercise may include actual companies and brand names solely for instructional purposes; this exercise is not associated with any such actual company or brand name. All trademarks remain the property of their respective owners.
Minimum Submission Requirements
Your business memo response should be the required number of pages as specified, in a Microsoft Word document, with an additional title page and reference page using APA format.
Respond to all of the checklist items in a thorough and highly organized, logical, and focused manner using Standard English and demonstrate exceptional content, organization, style, and grammar, and mechanics.
Your Assessment response should comply with all instructions provided.
Your memo should provide a clearly established and sustained viewpoint and purpose.
Your writing should be well ordered, logical, and unified, as well as original and insightful.
Be sure to cite both in-text and reference list citations where appropriate and reference all sources using proper APA citation style.
If work submitted for this competency assessment does not meet the minimum submission requirements, it will be returned without being scored. For more information on the U.S. Market check on this: https://en.wikipedia.org/w/index.php?search=U.S.+market
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