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Gboll

Business Finance

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Segmenting Consumer and Business Markets

Segmentation bases (variables) are used to identify particular characteristics, attributes, or traits of consumers or businesses. Consumer markets are typically segmented using 5 bases, including geographic, demographic, psychographic, benefit, and usage-rate segmentation.

Execute the following four steps to complete this Discussion assignment:

1. Watch the following animated explanations on segmentation of markets to develop a strong understanding of the concepts:
• Understand the characteristics of markets and market segments.
• Understand the criteria for successful market segmentation.
• Understand the bases commonly used to segment consumer markets.
• Understand the steps involved in segmenting markets.

2. Watch the following video on how the Food Network® uses segmentation and target marketing to appeal to consumers: View it here

3. Choose a cooking show from the Food Network® website (2014 Television Food Network G. P.) at: http://www.foodnetwork.com/shows.html to study and answer the questions below.

4. Using research from Chapter 8, to help substantiate your understanding of the segmentation and target marketing concepts, answer the following questions related to the segmentation and targeting of consumer markets for your chosen show:

  • Identify a minimum of three (3) segmentation bases that might be used to segment the market for your chosen show.
  • Describe the specific reasons each of the three (3) segmentation bases might be used to segment the market for your chosen food show.
  • Describe the type of target marketing strategy that might be used to reach the consumer for your chosen food show. Discuss the product differentiation strategy used to distinguish your chosen show from the rest of the shows on the Food Network® website (2014 Television Food Network G. P.).
  • Describe the most likely positioning base or bases that might be used to appeal to consumers in the target market for your chosen food show.

To obtain full credit for this Discussion, you must answer the available questions as thoroughly as possible. Your answer should be thoughtful and composed using complete sentences. Please follow the Discussion guidelines as provided in your Syllabus.

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Explanation & Answer

Attached.

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MARKETING DISCUSSION ON VALERIE FOOD SHOW
Market segmentation fundamentally refers to the process of aggregating of all the potential
buyers in a particular market into segments or groups which specifically have common and
similar needs and uniquely respond in the same manner. It is primarily applied to design and
establish a marketing mix which matches all the expectations of the buyers in a targeted market
segment. In the food show ‘Valerie home cooking' there are several marketing segmentation
bases that can be applied which categor...


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