Market Segmentation, Evaluation and Targeting
Number Of Pages:
2 Double-spaced (450 words)
Number Of Sources:
Type of Document:
There are many tools that marketing managers can use to evaluate potential market segments. Examples might include cluster analyses, segmentation trees, using standardized segmentation bases, market research studies, internal customer databases, etc. When marketing managers are conducting market segment analyses, Customer Relationship Management (CRM) tools and practices may also be valuable. In this assignment, you will examine various techniques for market segmenting/segment evaluation, and how targeting and positioning strategies are developed and implemented. Instructions: Review this week’s course content and conduct outside research on evaluating market segments, in order to develop targeting and positioning strategies Use the findings of your inquiry and analysis to complete the following instructions: Form conclusions about the need for market segmentation, including a discussion of the available methodologies for selecting appropriate market segments. Explain the ways in which market segments may be evaluated, and how these evaluations are used to select an effective targeting strategy. Compare and contrast between a targeting strategy and a positioning strategy, and distinguish the interrelationship(s) between the two strategies. Examine the accuracy, relevance, logic, and objectivity of the information used to support your work. Predict how the use of CRM practices influences long-term business profitability and success. Judge the effectiveness of a competitor’s targeting and positioning strategies in your market. Your conclusions should be logical extrapolations of the findings of your inquiry and analysis, and should also state relevant limitations and implications with supporting detail. Compose your answers to the above questions with a minimum of one paragraph per question (minimum of 5 paragraphs total). At least one outside research source is required for this assignment. Cite your sources according to APA guidelines.