Instructions (five pages in length, single-spaced. ) (FOR THIS ASSIGNMENT REMEMBER check the attachment VALUE PROPOSITION MEMO as it is the base to continue with this assignment, also see feedback of...

1 answer below »
Please have a very good expert do this assignment, Its Marketing Principle 310 class. It should be 5 page in length single spaced
Instructions (five pages in length, single-spaced. )(FOR THIS ASSIGNMENT REMEMBER check the attachment VALUE PROPOSITION MEMO as it is the base to continue with this assignment, also see feedback of the value proposition memo and then you can build this assignment from there. See below in Blue and underline feedback I received from my professor. Also please follow all instructions for this assignment)PurposeThe purpose of this assignment is to apply segmentation and targeting techniques to potential new subsets for a marketing campaign. This connects to course learning outcomes of constructing market segments of target customers for a product or service.  Assignment Task OverviewFor this assignment, you will assume the role of a marketing analyst. Your consulting firm has been hired to help with a campaign effort for the client company of your selected product/service. You will communicate your results in a professional memorandum.  There are three steps to this assignment. Review all three steps before you begin.  Step 1: Refer to the product/service you chose for your Value Proposition Assignment.  · The product/service you chose for the Value Proposition Assignment  will be the subject of this assignment.  · Review any feedback (see feedback in blue) you received on your Value Proposition memo. You will be writing a longer, more detailed memo about the same product/service for this assignment.  · Follow the specific instructions outlined in Steps 2 and 3 below.  Step 2: Respond to each of the following questions as they relate to your product/service. Note the research and references requirement.  · Your market segmentation memo will have three major sections.  · Respond to all the questions in each section. · Your memo also must meet the research and references requirement in Step 3.   I. Market Segment Analysis  a. Determine and describe the current primary segment. The client has an interesting question. What target market can be perceived by current messaging for the product/service? Visit the public website for your company's product/service. Based on the information available and any other publicly available information, infer the primary target market based on the messaging you find.  i. Describe the primary segment you believe your company is targeting for this product/service. Focus only on this product/service (e.g., for Disney+, focus on just the streaming service, not the parks or other Disney offerings). i. Describe the primary segment in terms of the behavioral, demographic, and psychographic characteristics for the segment. Give this segment an appropriate name. See, Segmenting and Targeting Markets and Customers in Learning Resources.i. Classify the primary segment according to one of the VALS types discussed in the Segmenting and Targeting Markets and Customers Learning Resource. (see attachment, don’t forget to reference this attachment and use in text citations) II. New Market Segments  a. Construct new segments. Your client company is interested in diversifying and building its target customer base for this product/service in the US market. Who is currently being underserved or overlooked? Who could be better served by being addressed directly?  i. Construct and describe two new potential segments or subsegments for your company to target for this product/service for the US market. Describe each new segment in terms of its behavioral, demographic, and psychographic characteristics. Give each segment an appropriate name. Follow steps 1-4 of the process described in the Selecting Target Markets Learning Resource. Begin by identifying the customer need for this product/service. Then, break the market down into subgroups. Develop profiles of target segments. Do some secondary research on your two segments. Note: You will not need to develop a full research plan or conduct primary research for this assignment. i. Of the two potential segments or subsegments you have created, which of the two has greater market potential for your company to target? Why?  i. Classify your new segment or subsegment according to one of the VALS types discussed in the Segmenting and Targeting Markets and Customers Learning Resource.   III. Recommendation  a. Present the best new segment or subsegment. What is the new segment or subsegment you recommend your company target for its product/service?  i. Create a simple customer persona to present your new segment and illustrate that segment in a table with the following fields and information relevant to the product/service: [segment name] [representative photo] [demographic] [background] [needs] [goals] [challenges] [perceptions] [motivations] [VALS type] See customer persona example here: 3 Examples of a Customer Persona - Simplicable i. Any product changes needed by this segment or subsegment? Are any product/service changes required to serve the segment you have identified? If so, what are they? i. How attractive/valuable is this segment or subsegment? Based on your research, is the segment you have identified attractive enough to justify an extended marketing campaign for your company? Or, should the campaign be one of more limited duration? Why?   Step 3: Format your submission to comply with these requirements.  Communicate your case analysis results in a Microsoft Word document formatted as a professional memorandum. Your memo will be longer than a typical one-page memo. It is reasonable to expect this assignment to be about five pages in length, single-spaced. · Here is a sample professional memo:  · Here is a tutorial on writing a professional memo: memo (   Address your memo to Vice President of Marketing Tiffany Morrow. Assume Ms. Morrow is your boss at a fictional consulting firm called "Destiny Marketing." The memo is from you, and your role is a marketing analyst at Destiny Marketing. This memo is regarding the company, which is your client, and the client's product/service. Your memo will communicate to Ms. Morrow your analysis. All questions in Step 2 must be included in your memo. A memo does not have a cover page.    Research and References Requirement · All statements of fact within the memo must be supported by a credible source, and that source must be cited using APA in-text citations. · Include a list of your sources in APA format. The reference list is required and should appear at the end of the memo in the space where attachments are normally found. [insert source for APA reference list format here.-----------------------------------------------------------------------------------------------------Feedback I received from my professor for the value proposition memo (see attachment value proposition memo and build this assignment with that)Your memo had a good value proposition by providing a simple statement that summarized why a customer would choose Apple TV. You showed how they communicate the clearest benefit to their customers. Your memo had clarity and communicated the offering results. Your memo did not show how Apple TV is different/better than their competitors. Your “back of the napkin” presented the value proposition was a little hard to read and took me more than five seconds of glancing at it. This assignment was to help you understand how important it is to capture content to help marketers explain why their product/service is better than that of the competition. One thing to always remember is that a value proposition is not an incentive, a catchphrase, or a positioning statement. Keep in mind that this assignment is going to be used as the foundation for your next assignment (Assignment #2). Your reference had minor issues. When you reference a website with no author you want to do it in this format:Apple TV Plus. (2022, June 5). Retrieved from Management, Apple TV Plus CompanyFROM: HRDATE: 05/29/2022SUBJECT: Memorandum On the Value Preposition for Apple TV Plus Apple TV Plus is at the forefront of providing its users with aide range of exciting channels through subscriptions. The existence of an on-demand steaming app has certainly come in handy in ensuring that users enjoy quality services. Apple TV Plus Company created an additional ad-based model to help elevate its marketing strategies. Like most digital companies, it has taken advantage of a subscription-based model. The company is constantly working on upgrading and updating its Apple TV business model to meet the overwhelming market demand. Indeed, it has elevated its selling position and attracted many users. Apple TV Plus Company has the financial muscle to create famous worldwide series, movies, and originals. It strives to compete with its major rivals like HBO Max and Amazon Prime Video. Finally, the company has financial stability, and constant revenue flow from the Apple TV sales which has significantly aided in its competitive strength. The value preparation for the network can represented as shown below:Apple TV Plus (2022). ReferenceApple TV Plus. 2022. Retrieved from 6/26/22, 9:03 AM Segmenting and Targeting Markets and Customers 1/30Segmenting and Targeting Markets andCustomersHinterhaus Productions / DigitalVision / Getty ImagesLearning Objectives1. Distinguish between targeted marketing and mass marketing and explain what led tothe rise of each.2. Describe how targeted marketing can benefit firms.3. Explain why companies differentiate among their customers.4. Understand and outline the ways in which markets are segmented.5. Explain why marketers use some segmentation bases versus others.Targeted Marketing vs. Mass MarketingLearning Resource6/26/22, 9:03 AM Segmenting and Targeting Markets and Customers 2/30The segment(s) or group(s) of people and organizations you sell to is a target market.Targeted marketing, or differentiated marketing, means that you may differentiate someaspect of marketing (offering, promotion, price) for different groups of selectedcustomers. Mass marketing, or undifferentiated marketing, came first. It evolved alongwith mass production and involves selling the same product to everybody.Automaker Henry Ford was successful at both mass production and mass marketing. Fordpioneered the modern-day assembly line early in the twentieth century, which helped himcost-effectively pump out huge numbers of identical Model T automobiles. They came inonly one color: black. “Any customer can have a car painted any color he wants, so long asit is black,” Ford used to joke. He also advertised in every major newspaper and persuadedall kinds of publications to carry stories about the new, inexpensive cars. By 1918, half ofall cars on America's roads were Model Ts (Ford, 1922).6/26/22, 9:03 AM Segmenting and Targeting Markets and Customers 3/30You could forget about buying a custom Model T from Ford in the early 1900s. The goodnews? The price was right.Eric Van Den Brulle / Stockbyte / Getty ImagesThen, Alfred P. Sloan, the head of General Motors (GM), began to segment consumers inthe automobile market—to divide them by the prices they wanted to pay and the carsthey wanted to buy. The idea was to offer a car for every target market or for everyincome level. His efforts were successful, and in the 1950s, GM overtook Ford as thenation's top automaker (Manzanedo, 2005).Before GM declared bankruptcy in 2009, it was widely believed the automaker had toomany car models. After eliminating many models including Pontiac and Oldsmobile,General Motors made a turnaround and posted a large profit for 2011. In 2021, GMhighlighted a commitment to an all-electric future in a letter to shareholders for the firstquarter of 2021 (Barra, 2021).6/26/22, 9:03 AM Segmenting and Targeting Markets and Customers 4/30Mary Barra, chairman and CEO, emphasized the company's commitment to a clean futurefor the masses
Answered 6 days AfterJun 26, 2022

Answer To: Instructions (five pages in length, single-spaced. ) (FOR THIS ASSIGNMENT REMEMBER check the...

Deblina answered on Jun 29 2022
13 Votes
Table of contents
Introduction    3
Market Segment Analysis    3
New Market Segments    5
Recommendation    6
Conclusion    6
References    8
The worldwide streaming industry is as yet growing because of how rapidly TV content is advancing and logically compelling more purchasers to quit utilizing their link or computerized TV memberships. This opens up a fresh out of the box new market f
or tech behemoth Apple to run the show. The choice to send off Apple TV+, another web-based feature, on November first, 2019, was made by Apple, and it was simply recently uncovered. This report will direct a situational analysis to take a gander at the association's interior and outer climate to survey expected gambles, boost likely conceivable outcomes, and plan a marketing plan. This paper will assess the market segment for the Apple TV Plus before looking at other market sectors and offering suggestions for the future.
Market Segment Analysis
A streaming service called Apple TV + permits clients to observe only the organization's selective motion pictures and TV shows. Like its adversary Netflix, the assistance doesn't contain advertisements. Since Apple TV Plus misses the mark on authorized index of motion pictures and TV programs, it doesn't work much the same way to Netflix. Nonetheless, it doesn't deliver the times of everything series simultaneously in a bunch that can be seen at a time. The Apple TV + shows frequently have three episode makes a big appearance consistently, trailed by one shiny new episode (Vlassis, 2021). The watch now tab of the Apple TV application contains the substance of Apple TV Plus. There are six new motion pictures and TV series accessible to purchase or lease on Apple TV, as well as existing video administration memberships like Starz and HBO. As per the Apple support page, most of its titles incorporates Dolby Atmos sound and is accessible in HDR, 4K, and Dolby Vision. A seven-day free preliminary, a $5 month to month participation, and a $50 yearly membership are accessible with Apple TV +. Clients who buy new Apple products like the Mac and Apple TV are qualified for a free participation for one year. To pursue the intriguing technology, the people who have the Apple TV application on their iPad, iPhone, or Apple TV need to send off the application and search for where Apple is promoting its shows. For example, assuming you have bought an Apple gadget, the application tells you that you are qualified for the markdown. The product starts playing in your Apple gadget after a couple contacts, whether you have a yearly enrollment or a month to month membership. On the Apple TV Plus site, you may likewise buy in and stream content utilizing an internet
owser. The free year offer is intended to keep clients utilizing their administration after the term has finished. At the point when the free year is out, the help consequently restores.
The market for streaming TV gadgets is incredibly divided, as shown by the measurements from Strategy Analytics. While it very well may be expected that organizations like Amazon and Roku would stand firm on an instructing situation, the TV creators keep on starting to lead the pack. As per the review, 1.14 billion focused on devices are being used around the world. Roku holds a 3 percent market share, while Amazon holds a 5 percent share. Two percent of the market is taken up by Apple TV. Stages are much more divided than equipment producers, which Strategy Analytics ascribes to the proceeded with use of numerous more seasoned, regularly restrictive frameworks (Bakir, 2018). As per the examination, which follows the quarterly a
angements of TV and video web based gadgets across 27 significant countries, Samsung is the market chief with 14% of the gadgets being used, trailed by Sony with 12%, LG with 8%, Hisense with 5%, TCL with 5%, and Amazon with 5% of the gadgets. The information additionally uncovers that the Tizen stage, which represents 11% of sent gadgets, is the market chief for TV streaming, trailed by WebOS (7%), PlayStation (7%), Roku OS (5%), Fire OS (5%), Android TV (4%) and Xbox (4%). Because of the proceeded with utilization of various obsolete, much of the time exclusive frameworks, the stage climate is still rather divided.
Figure – Global TV Streaming platforms
Source –...

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here