LP2 Assignment: Target Marketing and Segmentation
This assignment will assess competency 2. Analyze marketplace dynamics impacting sales and marketing efforts.
In our readings, we have been examining the concepts of target marketing and market segmentation. As we know, in order to ensure marketing success, the marketing manager in the organization needs to conduct a very thorough analysis of the markets to be served. As the marketing manager in your organization, you first need to educate the management team with regard to the importance of targeting and segmentation. Therefore, you have decided to prepare a 800-1000 word report to share with the decision-makers in your organization. In your report you will be addressing the following concerns:
1) What are the characteristics of markets and market segments?2) What is the importance of market segmentation?3) What are some of the criteria for successful marketing segmentation?4) What are some of the common bases used to segment consumer markets?5) What are some of the strategies for selecting target markets?
Your report will be shared with the rest of the organization in an attempt to educate your fellow managers on the importance of these marketing activities.
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