course, you will select a Fortune 500 company from a list provided and then select a consumer market segment that the company targets. With a focus on this segment, you will conduct analysis on the...

1 answer below »
course, you will select a Fortune 500 company from a list provided and then select a consumer market segment that the company targets. With a focus on this segment, you will conduct analysis on the consumer behavior of this group and then make marketing recommendations on how to best reach them at various points in the buying cycle. You will need to consider who this segment is, which products would be most likely to appeal to them, and how the company should most effectively market to them.This assessment addresses the following course outcomes:• Analyze marketing research for informing promotional approaches and strategies for a specific market• Create messaging and promotional elements that effectively apply marketing mix principles for reaching specific target markets• Evaluate the impact of consumer behavior on the development of focused one-to-one marketing campaigns• Evaluate segmentation approaches for informing the selection of effective marketing strategies• Analyze the stages of the consumer buying process for their implications to develop sound marketing strategiesThe project is divided into three milestones, which will be submitted throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Three, Four, and Six. The final marketing research brief will be submitted in Module Eight.
is scenario, you have been named vice president of marketing for your selected company. You have been told to choose one of the consumer segments the company targets and conduct an analysis of the buying behavior of that group. After you complete your analysis, you will need to present your proposed marketing strategy based on your analysis to the executive team.
Your presentation must address the following prompt: Select a consumer segment and develop a set of marketing strategies to reach this group at the different points in the buying cycle. The final deliverable for this assessment will be a presentation that includes detailed speaker notes explaining each slide.
p with PowerPoint and preparing your slideshow, visit the training resources located in the Module Resources section of this course. Specifically, the following critical elements must be addressed:I. Market ResearchA. Select a consumer segment that your company serves, and describe why this segment is worth pursuing.B. Identify and qualify research sources that can be used in obtaining information on consumer behavior.C. Analyze the characteristics of the chosen consumer segment using secondary research.II. SegmentationThis section is where you will apply the information gained from your market research to your identified market segment.A. Identify the various segmentation strategies that your selected company uses to divide the market. Be sure to consider the overall market for your chosen brand.B. Select the segmentation strategy(s) to create your market segment, and explain why the strategy(s) would be effective.C. Describe the consumer segment you have selected. Explain why they are a good fit for the product.D. Determine the research needs for this segment, and provide rationale for each need.III. Consumer Buying ProcessA. Define the stages of the consumer buying process.B. Analyze a marketing strategy that can be used for each stage of the consumer buying process in regard to your chosen market segment.C. Determine the specific stages of the consumer buying process for which your marketing strategies can be most effective for your consumersegment.IV. Marketing StrategyThe goal of a marketing strategy is to increase sales and stay current with how a market is behaving. Present this strategy in a way that communicates why this strategy will be effective, and defend your claims. Remember that when creating a presentation, you should ensure that the elements used display a level of professionalism and do not distract viewers from the key points being presented.A. Overall marketing campaign1. Define the goals of your marketing campaign for your segment.2. Determine channels through which you will market the product to your segment. Justify your response.3. Develop a messaging strategy, including sample messaging, for each channel you identified.B. One-to-one marketing campaign1. Define one-to-one marketing, and describe how you will incorporate it into your overall marketing campaign.2. Describe which stage(s) in the consumer buying process would best lend itself to one-to-one marketing.
Determine a one-to-one marketing strategy that would work for the stage(s) you identified and explain why it aligns with your segment.

for Submission: The submission should be a 12- to 15-slide PowerPoint presentation with audio or speaker notes included. Citations should be donein APA format as needed.


Answered Same DayJun 28, 2022

Answer To: course, you will select a Fortune 500 company from a list provided and then select a consumer market...

Tanmoy answered on Jun 29 2022
14 Votes
PowerPoint Presentation
NIKE CONSUMER SEGMENT
Presented By: Mekel Zapico
Market Research - Nike
Nike will launch its Nike Air Force 1’07 Next Nature sports shoes targeted towards the consumers
Selected Consumer Segment
Nike serves the 11 to 55 years old consumer market
Targets middle-aged consumers with disposable income
Younger audience
Why this segment is worth pursuing
Future Growth
Edifice long term
and loyalists
Will serve both male and female consumers
The company which I have chosen is Nike and it will be able to serve the consumer segment within the age group of 11 to 15 years. Further, Nike will be able to tap the middle aged consumers who have a disposable or high income. These are especially the consumers working in major IT companies, Banking and financial institutio
ns, businessman and sports athletes. It will also be the younger customers who will be engaged in building loyalty.
The reason due to which this segment is worth pursuing is that it will help in the future growth of Nike through innovation. It will also help to build long-term
and loyalty with the customers and enhance the
and. Finally, it will be able to serve both the male and female customers by addressing the behavioral segmentation and edifice
and loyalty and affinity with the consumers. This can be done by personalized email and social media campaigns (Start.in, 2021).
2
Market Research - Nike
Identify and qualify the research sources for obtaining information on consumer behavio
Behavioural – It’s the customer based transaction based on the interactions with Nike
Demographic Lifestyle – Its based on the household composition and interests
Motivational – It is what drives the customer and their relationship with Nike
Attitudinal – Based on consumer’s opinion and their reactions
Aspirational – The way the consumers view their association with the
and
The research sources which can be used for identifying and qualification of information on the consumer behavior are as follows:
Behavioural – It’s the customer based transaction based on the interactions with Nike. This is generally done by the store manager with the customers during the visit in the store according to their taste and preferences.
Demographic Lifestyle – Its based on the household composition and interests. It helps to identify the manner in which the people lives, the way they purchases, their location along with their age, income and occupation (Ryan, 2022).
Motivational – It is what drives the customer and their relationship with Nike. Identification of the product or specific element which drives the customers to purchase the product.
Attitudinal – Based on consumer’s opinion and their reactions. It is mainly based on the opinions and feedbacks received from the customers with respect to the product. The customers also shares their opinion on the stores, the customer marketing programs and the reason behind them.
Aspirational – The way the consumers view their association with the
and. It’s a way to recognize the way the customers are attracted towards Nike. This can be through loyalty programs, discounts and offers etc.
3
Market Research - Nike
Analyze the characteristics of Nike’s consumer segment
The characteristics of Nike’s consumer segmentation can be segregated into four categories which are as follows:
Demographic: Through demographic segmentation it target the audiences generally between the age group of 11 and 15 to 55 years. The Nike apparels are aimed towards men, women and the kids. The sports enthusiasts are also a part of this target along with the high income groups having high amount of disposable income.
Geographic: According to the geographic segmentation, Nike targets the u
an areas and the international countries both developed and developing nations for selling their products.
Psychographic: The psychographic of Nike is based on the customer lifestyle, the personality i.e., sports athletes, college students, IT professionals etc. Then it will be the activities which the individuals do. Nike also takes into consideration the opinions of the customers in the form of feedback and finally incorporating their interests and preferences which attracts them to purchase Nike products.
Behavioral: Further, it’s the frequency of purchase of Nike products which helps in evaluating the number of times the customer visits the store to purchase a Nike product. Finally, it’s the customer loyalty which helps in identifying how much the customers are attracted to Nike
and (E Draw Mind, 2022).
4
Segmentation
Various Segmentation Strategies
Demographic Variables: Targets the customers as per age, income, gender, occupation, life-cycle stage and generation
Geographic Variables: Segmentation of Nike as per country, states, cities and according to the population density
Behavioristic Variables: Targeting based on the Nike attributes is the feature to realize how the consumers feels of the product
Psychographic Variables: It helps to target individuals with specific lifestyles and sports personalities
Nike uses various segmentation strategies for targeting the customers in the shoes and apparel segment:
Demographic Variables: Targets the customers as per age, income, gender, occupation, life-cycle stage and generation. These strategies are about the young adults who strives to be like sports idols they prefers the most. In the FIFA World Cup, Nike generally advertises its products with soccer athletes who are of teenage.
Geographic Variables: Segmentation of Nike as per country, states, cities and according to the population density. In US, Nike usually advertises its products with football and baseball games. They uses various advertisements along with marketing programs with respect to the football and baseball products by selecting the athletes who are associated with the games. Nike uses soccer stars for marketing the Nike products. In India, they uses the cricketers and rugby players for advertising in Australia and New Zealand.
Behavioristic Variables: Targeting based on the Nike attributes is the feature to realize how the consumers feels of the product. The advertise by communicating a message that if one is an athlete, then how does this make the person feel after wearing the product. Further, Nike provides its customer innovative products, various choices which are of unique qualities.
Psychographic Variables: It helps to target individuals with specific lifestyles and sports personalities. Nike must target the individuals who like sports. The target customers may be professional players, simply watching sports or discussing on the sports topic which shapes the personalities and lifestyle of the consumers. They organize various events such as Run with me, Sport improvement clinics, various contests on the social media platforms and endorsement with the athletics and non-athletics. This way they are able to create a community and a feeling of belongingness with the Nike family (My Mission, 2021).
5
Segmentation
Choose the Segmentation Strategy for creating market segment
Segmentation Strategy – Behavioural segmentation
Quite new in the digital age
Based on information collected by company
The usage pattern, price sensitivity, loyalty toward the
and and the benefits
The best segmentation strategy which I will choose for creating a market segment is the Behavioral segmentation. This type of segmentation is very new in the digital world and helps in collecting the customer information based on the data reports, the survey forms and the trends of the market in the shoe industry.
Further, Nike will use various patterns, the price sensitivity with respect to the product. They will also emphasize on the
and loyalty and the various benefits which can be delivered to the customers for launching the
and and enhancing the sales. The customers on the other hand wants the best
and which can be available at the best price. Also, the behavioral segmentation will predict the items and services...
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here