MKT 301- SEG.

Module 5: Segmentation

We will spend a week in class discussing segmentation. For this component you will be

required to

identify and define the market segments you will target in your plan. It is vital to your success in this

assignment that you complete Module Four, including all the activities and the Elder Care Scenario.

You must have a minimum of TWO segmen

ts for your project.

Your analysis should include:

1. A narrative description of each of the segments. You are required to give each a name.

For example, if I were segmenting older consumers for a pet product I might have "Empty Nesters" or

"Little Old

Lady Cat Lovers". This narrative is usually a one paragraph summary of the segment’s

profile.

2. How you are segmenting the groups (demographics, psychographic, geographic or other criteria)

including the characteristics of your target segments. Be VERY

specific and use no less than four

demographic and four psychographic variables for each of your segments.

You may use any combination of text, charts and graphs you wish to accomplish parts 1 and 2.

However, be sure that it is clear what, and who, compr

ise your segments.

NOTE: Segmentation is discussed extensively in Module 4. Do NOT attempt this assignment until

you have completed all of Module 4.

Segmentation example

NOTE: This example is written for a product called Staycation.com. It is an online

vacation

planner for consumers taking their vacations at home. This is a common phenomenon in the

current economy.

You are required to have TWO segments. This example has four. The chart is only an example

–

you may set yours up differently.

Childless Co

uples (Young Adventurers)

The Young Adventurers group is comprised of young adult couples who are mostly just starting out

on their own. Young couples are typically known to have financial hardships (even without children)

for various reasons. These reaso

ns might include young people being typically employed in entry

-

level positions with corresponding salaries. On top of this, some may have bills and debt from various

sources such as vehicles and student loans. They may neither possess the finances nor the

large

amounts of vacation time from their jobs to take a conventional vacation. MKT301 2020 16

Marketing Plan Guide

Module 5: Segmentation

We will spend a week in class discussing segmentation. For this component you will be required to

identify and define the market segments you will target in your plan. It is vital to your success in this

assignment that you complete Module Four, including all the activities and the Elder Care Scenario.

You must have a minimum of TWO segments for your project.

Your analysis should include:

1. A narrative description of each of the segments. You are required to give each a name.

For example, if I were segmenting older consumers for a pet product I might have "Empty Nesters" or

"Little Old Lady Cat Lovers". This narrative is usually a one paragraph summary of the segment’s

profile.

2. How you are segmenting the groups (demographics, psychographic, geographic or other criteria)

including the characteristics of your target segments. Be VERY specific and use no less than four

demographic and four psychographic variables for each of your segments.

You may use any combination of text, charts and graphs you wish to accomplish parts 1 and 2.

However, be sure that it is clear what, and who, comprise your segments.

NOTE: Segmentation is discussed extensively in Module 4. Do NOT attempt this assignment until

you have completed all of Module 4.

Segmentation example

NOTE: This example is written for a product called Staycation.com. It is an online vacation

planner for consumers taking their vacations at home. This is a common phenomenon in the

current economy.

You are required to have TWO segments. This example has four. The chart is only an example

– you may set yours up differently.

Childless Couples (Young Adventurers)

The Young Adventurers group is comprised of young adult couples who are mostly just starting out

on their own. Young couples are typically known to have financial hardships (even without children)

for various reasons. These reasons might include young people being typically employed in entry-

level positions with corresponding salaries. On top of this, some may have bills and debt from various

sources such as vehicles and student loans. They may neither possess the finances nor the large

amounts of vacation time from their jobs to take a conventional vacation. MKT301 2020 16

Marketing Plan Guide