Principles of Marketing

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WK 4 Discussion 1:

Geodemographic Segmentation: Finding your People

Finding and Targeting Your People

Geodemographic Segmentation: Finding Your People

Geodemographics is a common and effective means to segment potential customers. Leveraging both demographic (e.g., gender, age, income, marital status) and psychographic (e.g., habits, hobbies, spending habits, values) data, households can be classified into segments and the relative attractiveness of these segments for your product or service can be determined.

In this interactivity, you’re going to take a geodemographic system (Prizm Premier) and determine which segment best describes you. Then, exploring map data, you’ll assess how common your segment is for where you live and where you could live amongst more people like yourself! Finally, with knowledge of your segment’s profile, you’re going to suggest a promotion for your internship brand targeted specifically to your segment.

Guided Response:

1. Begin by perusing the Prizm Premier interactive tutorial (Links to an external site.)Links to an external site..

  • You’ll note there are 68 segments. Fortunately, these are broken into 11 lifestage groups that provide a more manageable starting point.

2. Visit the Prizm Premier Lifestage Groups page (Links to an external site.)Links to an external site. and determine the following:

  • The lifestage group and segment that best matches you
  • How common your segment is where you live
  • Where you could move to find more of “your people”
  • How to do all that? Our step by step Prizm Premier Tutorial reveals all.

3. Create a promotion from your mentor marketer to target your segment.

  • Imagine you’re executing a targeted promotion. Tell us the product or service and deal that you will pitch your segment and justify its appeal.
  • Feel free to package products or services together.

4. Publish a post to the forum below containing the following…

  • Your Premier Prizm lifestage group
  • Your Premier Prizm segment and the characteristics driving your choice
  • The “popularity” index of your selected segment where you live
  • The high indexing area for your segment that you’ve chosen and its value. Tell us what town is in your county that we might have heard of (or any other attraction).
  • Your segment specific targeted promotional offer and rationale
    • First identify the countries your mentor marketer does business in. Or did. Check out the corporate website. Or the latest annual report.

Market segmentation in action

View Prizm Premier Lifestage Groups page (Links to an external site.)Links to an external site.

A step by step Prizm tutorial…

View online tutorial

Our sample post…

My Prizm Premier lifestage segment is “Striving Singles” and the segment I chose is “Small-Town Collegiates.” I chose that segment as we are a younger family just starting out who does occasionally horseback ride and shop at True Value hardware stores.

The index for my segment in San Diego County, CA, where I currently live, is very low at 14. The high indexing area for Small-Town Collegiates that I chose as my potential future home is James City County, VA. It has a 468 value for Small Town Collegiates and is where you’ll find colonial Williamsburg and the Loch Ness Monster roller coaster!

For my mentor marketer, Papa John’s Pizza, I am proposing a mid-week $5 small pizza deal to appeal to Small-Town Collegiates’ tight purse strings and likely smaller households. This will be a pick-up only offer, as delivery would not likely be profitable. This segment tends to live in more rural areas and their smaller households mean smaller order values.


WK 4 Discussion 2:

Foreign Market Entry Podcast

As you are likely aware, your internship brand doesn’t just do business in the U.S. So, in this interactivity, we’re going to research their past entry into a foreign market. But rather than writing about it, we’re going to talk about it — by creating a short podcast.

Guided Response:

1. Identify a specific country to analyze your brand’s entry into

oThen search your brand in business periodicals such as Forbes in conjunction with country names or terms like “foreign” or “international.” See which markets have been written about and select one.

2. Research your chosen market to answer these questions:

oHow successful was the entry into this market? Is the brand still in the market?

3. Identify and create proper APA citations for 3+ different sources.

oAs you will be creating a podcast, in-line citations are not required, but you will need to document your sources.

4. Script (or at least outline) for your podcast.

oBe sure to introduce yourself and identify your mentor marketer and the relevant market before answering the questions above.

5. Record your podcast with SoundCloud.

oConsult our step-by-step Creating Your Soundcloud Recording tutorial.

6. Post your podcast link and APA formatted sources to forum below.

FAQs

Do I have to use my internship brand for this assignment?

Please try to, as this will further your understanding of the brand.

Do I have to use Soundcloud

No, but you will need to post an accessible link to your podcast.

A step by step Soundcloud tutorial…

View online tutorial

Our APA formatted citations

Custer, C. (2011, August 26). What’s wrong with Groupon in China? Techinasia.com. Retrieved from https://www.techinasia.com/whats-wrong-with-groupon-in-china (Links to an external site.)Links to an external site.

Groupon. (n.d.). Retrieved January 25, 2016, from https://en.wikipedia.org/wiki/groupon (Links to an external site.)Links to an external site.

Kumparak, G. (2011, October 31). How Groupon Is Losing China.TechCrunch.com. Retrieved from http://techcrunch.com/2011/10/31/how-groupon-is-losing-china/ (Links to an external site.)Links to an external site.

Zhu, J. (2011, November 4). 4 mistakes behind Groupon’s failure in China.Techinasia.com. Retrieved from https://www.techinasia.com/4-mistakes-behind-groupons-failure-in-china (Links to an external site.)Links to an external site.

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