glossy compact 10ʺ × 12ʺ entertainment box B u s i n e s s F i n a n c e

glossy compact 10ʺ × 12ʺ entertainment box B u s i n e s s F i n a n c e

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., called “Media Popup” and made by the startup company Porttron, Inc. The multimedia center is a glossy compact 10ʺ×12ʺ entertainment box. It includes a screen with 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 stick strips at the back of each speaker; and a subscription to streamed movies, music, and videos for 2 years — all for $499. It is available in three different colors (black, silver, and white).

Business Memo: You are a marketing assistant at Porttron, Inc. tasked with providing a business memo (i.e., an internal company document) to the U.S. executive management team of Porttron, 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.

Checklist:

  1. Identify either a consumer or business market.
  2. Describes a minimum of four (4) bases each for segmenting the market for at least one market (see Chapter 8).
  3. Identify four (4) segmentation descriptors (e.g., if a company chose usage-rate segmentation they might decide between heavy and light users).
  4. Explain your rationale for the four (4) segmentation descriptors for at least one market.
  5. Describe a minimum of 4 factors of the target market.
  6. Identify a marketing mix (product, place, promotion, price) for the product.

In a minimum of 2 pages (500 words) in a Microsoft Word document, write the business memo using the current APA format and citation style

Use MKTG 13th: Principles of Marketing Lamp, Hair, McDaniel as the one and only source needed.

Lamb, C. W., Hair, J. F., & McDaniel, C. (2020). MKTG (13th Edition). Cengage Learning US. https://purdueuniversityglobal.vitalsource.com/rea…