Market Research and Segmentation

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Business Finance

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For this first milestone you will prepare a PowerPoint presentation summarizing the research you have so far done and the segmentation strategies you have so far considered to market the consumer product you are proposing for your final project. Company chosen is Amazon. Please use the resources below, other resources can be added as well. Rubric Attached.

The Amazon Effect On Consumer Expectations and Buying Decisions. Retrieved from https://www.spscommerce.com/blog/amazon-effect-consumer-expectations-spsa/

Amazon, Whole Foods, and the Future of the (Old) New Economy. Retrieved from https://hbr.org/2017/06/amazon-whole-foods-and-the-future-of-the-old-new-economy

Amazon Prime Is Changing Consumer Behavior In The Most Strategic Ways. Retrieved from https://www.linkedin.com/pulse/amazon-prime-changing-consumer-behavior-most-strategic-henry-ho

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MKT 345 Milestone One Guidelines and Rubric (Market Research and Segmentation) Overview: For this first milestone, due in Module Three, you will prepare a PowerPoint presentation (minimum of 7 slides) summarizing the research on segmentation strategies you have so far considered to market the consumer product you are proposing for your final project. Prompt: First, review your work in Modules One and Two, as well as your posts and response posts in the Module Three discussion. Prepare at least three slides summarizing your market research so far:  What consumer segment does your selected company serve in, and why are you pursuing it?  What are two to three resources you might use to obtain information on consumer behavior? Provide a rationale regarding why you selected each one.  What secondary research will you use to analyze the characteristics of the chosen segment? Prepare at least four slides summarizing the market segmentation you have so far considered:  Which marketing approach will you use for your segment? Why do you believe it will be effective?  What are the key points about the approach used to segment your selected market? What is it based upon?  What is your selected consumer segment? Why do you believe it is a good fit?  What are the research needs for each segment? Using the speaker notes, provide any additional details of importance regarding the bullet points you addressed on each slide to further explain the information. Specifically, the following critical elements must be addressed: I. II. Market Research A. Select a consumer segment that your company serves, and describe why this segment is worth pursuing. B. Identify and qualify research sources that can be used in obtaining information on consumer behavior. C. Analyze the characteristics of the chosen consumer segment using secondary research. Segmentation This section is where you will apply the information gained from your market research to your identified market segment. A. Determine appropriate marketing approaches for your market segment, and explain why these approaches would be effective. B. Evaluate the approach you used in order to segment the market. C. Describe the consumer segment you have selected. Explain why they are a good fit for the product. D. Determine the research needs for this segment, and provide rationale for each need. One of the following tutorials may be of use to you in preparing your presentation: PowerPoint Tutorials (Atomic Learning) (log in using your SNHU credentials) and PowerPoint 2013 Videos and Tutorials. Instructor feedback on this milestone should be incorporated into your next milestones and into the final project. Rubric Guidelines for Submission: Milestone One should be a 7-slide minimum PowerPoint presentation with audio or speaker notes included. Citations should be provided in APA format as needed. Please note that the grading rubric for this milestone submission is not identical to that of the final project. The Final Project Rubric will include an additional “Exemplary” category that provides guidance for how you can go above and beyond “Proficient” in your final submission. Critical Elements Market Research: Consumer Segment Proficient (100%) Selects a consumer segment the company serves and describes why the segment is worth pursuing Market Research: Sources Identifies research sources that can be used in obtaining information on consumer behavior Analyzes the characteristics of the chosen consumer segment using secondary research sources Market Research: Secondary Research Segmentation: Approaches Determines available approaches for the market segment, and explains why approaches would be effective Segmentation: Approach Evaluates the approach you used in order to segment the market Segmentation: Consumer Segment Describes the consumer segment selected, and explains why they are a good fit for the product Needs Improvement (75%) Selects a consumer segment the company serves, but does not describe why the segment is worth pursuing or the description is cursory or contains issues regarding accuracy Identifies research sources, but sources cannot be used to obtain information on consumer behavior Analyzes the characteristics of the chosen consumer segment, but does not use secondary research or analysis contains flaws Determines available approaches for the market segment, but does not explain why approaches would be effective or contains issues regarding the appropriateness of choices Describes the approach you used to segment the market, but description is not cogent Describes consumer segment, but does not explain why they are a good fit for the product or explanation has issues regarding cogency or accuracy Not Evident (0%) Does not identify consumer segment Value 13 Does not identify research sources 13 Does not analyze the consumer segment 13 Does not determine available approaches 13 Does not describe segmentation approaches 13 Does not describe the consumer segment and product 13 Segmentation: Research Determines the research needs for the specific segment, and provides rationale for each need Articulation of Response Submission has no major errors related to citations, grammar, spelling, syntax, or organization Determines the research needs for the specific segment, but does not provide rationale for each need or rationale is not cogent Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Does not identify research needs 13 Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas Total 9 100%
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Attached.

Market Research & Segmentation
Name

Course
Tutor
Date

Consumer Segment That Your Company Serves







Amazon serves several consumer segments, based on behavioral, psychographic, geographic and
demographic traits of the customers
Focus in this case will be on the behavioral segment of consumers served by Amazon

This is an important segment to pursue to help with the understanding of the niche that Amazon
serves
One gets to understand what Amazon is doing different compared to its competitors
Amazon has managed to serve all levels of loyal customers

Has focused on various personalities as well as met the needs based on the user status

Research sources









There are various research sources that can be identified and are of quality
These sources can be used in information obtaining for consumer behavior
Current customers can be interviewed to understand their purchasing behavior

Web analytics can also be studied to have an understanding of the values a...


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