Identify a company that works with several products or services. Visit and write down the address of your website.
Mention the products or services you have. Select the product that you think is the most recognized.
Broadly discusses the following features in the selected product or service:
Price: Compare to the competition and evaluate if it is competitive. Evaluate other factors, such as quality and brand, that affect the price.
Quality: Is it considered a product of good, moderate or poor quality?
Brand: How do you consider brand recognition?
Variety: Are there variations of the same product? Does it increase, decrease or complement its competitive value?
Offers: Evaluate recent product offers that have been posted. Who are they targeting?
Advertising campaigns: Evaluate past and present advertising campaigns. What are these campaigns pursuing?
Utility: Explain the utility of the product. Catalyze it as a necessity, convenience or luxury.
Others: Evaluate any other aspects that have not been discussed and which you understand is of importance to the selected product or service.
Based on the evaluation performed in Instruction 3, make a written statement of at least two paragraphs of 5 to 6 sentences each, in which you describe the target market for that product or service.
Based on Table 11-3 of the textbook, which shows the most common market segmentation bases, it indicates the demographic characteristics of the consumer of the selected product or service. Support your response with reliable information obtained on the Internet. For example, you can go to Google and type “Demographics of selected product”. Take the test by writing “demographics of soda consumption”.
Conclude your work explaining the importance of a business administrator knowing the target market and the market segmentation of its products or services.