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