marketing emergency

by

Assignment 1 – Due Date 06/05/2019 11pm EST

The objective of this class exercise is to gain a thorough understanding of segmentation variables by designing a target market for a new retail operation.

Prompt for Students:

You have just received a sizable inheritance. After giving part of it to charity, you have $500,000 remaining to begin a new retail operation in your local area. What kind of operation will you open? Indoor Go cart Center

1. What market or segment of a market exists in your area with unfulfilled needs or wants?

2. Briefly describe the nature of the operation you would open to meet the needs of a specific market segment(s).

a. Product or service?

b. Price range?

c. Location? Saint Croix

3. Will you use a concentrated or a differentiated targeting strategy? Why?

4. What segmentation variables will be useful in describing your target market(s)? Why?

Business plan will be posted. please use to answer the questions.

Assignment 2- Due Date 06/05/2019 11:30 pm Est

The 10 minute video segment is part of a Frontline series called “The Merchants of Cool.” While this program aired years ago, it is still relevant. Frontline is an excellent program and all of its episodes are available online at the PBS website.

Note:Some episodes contain content which may not be appropriate for all classes.

Today the teen market is a very desirable market segment since they set trends and have high levels of disposable income. This video (Part 1: Hunting for Cool) demonstrates some of the research techniques used to identify what is cool to the various segments of teen culture. View the following link below below:

http://www.pbs.org/wgbh/pages/frontline/video/flv/…

Discussion:

How do marketers know what is “cool” for a particular segment?