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market segmentation MEMO

Purpose

The purpose of this assignment is to apply segmentation and targeting techniques to potential new subsets for a marketing campaign. This connects to course learning outcomes of constructing market segments of target customers for a product or service.  

Assignment Task Overview

For this assignment, you will assume the role of a marketing analyst. Your consulting firm has been hired to help with a campaign effort for the client company of your selected product/service. You will communicate your results in a professional memorandum. 

There are three steps to this assignment. Review all three steps before you begin.  

Step 1: Refer to the product/service you chose for your Value Proposition Assignment.  

  • The product/service you chose for the Value Proposition Assignment in Week 2 will be the subject of this assignment.  
  • Review any feedback you received on your Value Proposition memo. You will be writing a longer, more detailed memo about the same product/service for this assignment.  
  • Follow the specific instructions outlined in Steps 2 and 3 below.  

Step 2: Respond to each of the following questions as they relate to your product/service. Note the research and references requirement.  

  • Your market segmentation memo will have three major sections.  
  • Respond to all the questions in each section. 
  • Your memo also must meet the research and references requirement in Step 3.

I. Market Segment Analysis  

  1. Determine and describe the current primary segment. The client has an interesting question. What target market can be perceived by current messaging for the product/service? Visit the public website for your company's product/service. Based on the information available and any other publicly available information, infer the primary target market based on the messaging you find.  
  2. Describe the primary segment you believe your company is targeting for this product/service. Focus only on this product/service (e.g., for Disney+, focus on just the streaming service, not the parks or other Disney offerings). 
  3. Describe the primary segment in terms of the behavioral, demographic, and psychographic characteristics for the segment. Give this segment an appropriate name. See, Segmenting and Targeting Markets and Customersin Learning Resources.
  4. Classify the primary segment according to one of the VALS types discussed in the Segmenting and Targeting Markets and Customers Learning Resource. 

II. New Market Segments  

  1. Construct new segments. Your client company is interested in diversifying and building its target customer base for this product/service in the US market. Who is currently being underserved or overlooked? Who could be better served by being addressed directly?  
  2. Construct and describe two new potential segments or subsegments for your company to target for this product/service for the US market. Describe each new segment in terms of its behavioral, demographic, and psychographic characteristics. Give each segment an appropriate name. Follow steps 1-4 of the process described in the Selecting Target Markets Learning Resource. Begin by identifying the customer need for this product/service. Then, break the market down into subgroups. Develop profiles of target segments. Do some secondary research on your two segments. Note: You will not need to develop a full research plan or conduct primary research for this assignment. 
  3. Of the two potential segments or subsegments you have created, which of the two has greater market potential for your company to target? Why?  
  4. Classify your new segment or subsegment according to one of the VALS types discussed in theSegmenting and Targeting Markets and Customers Learning Resource.   

III. Recommendation  

  1. Present the best new segment or subsegment. What is the new segment or subsegment you recommend your company target for its product/service?  
  2. Create a simple customer persona to present your new segment and illustrate that segment in a table with the following fields and information relevant to the product/service: [segment name] [representative photo] [demographic] [background] [needs] [goals] [challenges] [perceptions] [motivations] [VALS type] See customer persona example here: 3 Examples of a Customer Persona – Simplicable 
  3. Any product changes needed by this segment or subsegment? Are any product/service changes required to serve the segment you have identified? If so, what are they? 
  4. How attractive/valuable is this segment or subsegment? Based on your research, is the segment you have identified attractive enough to justify an extended marketing campaign for your company? Or, should the campaign be one of more limited duration? Why?   

Step 3: Format your submission to comply with these requirements.  

Communicate your case analysis results in a Microsoft Word document formatted as a professional memorandum. Your memo will be longer than a typical one-page memo. It is reasonable to expect this assignment to be about five pages in length, single-spaced. 

Address your memo to Vice President of Marketing Tiffany Morrow. Assume Ms. Morrow is your boss at a fictional consulting firm called "Destiny Marketing." The memo is from you, and your role is a marketing analyst at Destiny Marketing. This memo is regarding the company, which is your client, and the client's product/service. Your memo will communicate to Ms. Morrow your analysis. All questions in Step 2 must be included in your memo. A memo does not have a cover page.    

Research and References Requirement 

  • All statements of fact within the memo must be supported by a credible source, and that source must be cited using in-text citations. See, Is My Source Credible?
  • Include a list of your sources. The reference list is required and should appear at the end of the memo.  The references will be on a separate page following your final comments from your analysis. References should not be older than 2019. 
  • A minimum of seven (7) references should be used.

See the rubric for grading guidelines. Week 4 – Written Assignment Memo Rubric

It is your responsibility to check your document and make sure you have submitted the correct one. The last document you submit prior to the deadline is the one that will be graded. It must be in .doc, .docx, or .pdf format!no

Deliverable 4 – Keyword Report

MAR3817CBE Section 01CBE Search Engine Optimization and Mark (11 Weeks) – CBE Online Course – 2024 Spring Quarter

Deliverable 4 – Keyword Report

Deliverable 4 – Keyword Report

Assignment Content

  1. Competency
    Evaluate keyword targets via a keyword research tool.
    Student Success Criteria
    View the grading rubric for this deliverable by selecting the “This item is graded with a rubric” link, which is located in the Details & Information pane.
    Scenario
    A new position in the digital marketing department of your company is opening. You want to be proactive in demonstrating your interest and being considered for the position, so you decide to do some research about keywords. You intend to write a report identifying some specific areas of improvement or concern for your organization’s website.
    Instructions
    Write a 2-page report that identifies areas of improvement, with keywords in mind, for an organization’s current website.
    • Select a company of your choice with a website.
    • Explain the use of keywords in various areas on a website.
    • Identify at least 5 keywords (other than the brand name) that you think this company should rank highly on.
    • Google these keywords and find where the company is on the list for each. Determine if the company is doing well or not.
    • Using a free keyword generator, identify at least 3 additional keywords or phrases to consider using. Below are some examples of keyword generators:
    • https://ahrefs.com/keyword-generator
    • https://trends.google.com/
    • https://keywordsheeter.com/
    • https://answerthepublic.com/
    • Or use any generator you prefer or simply Google the term.
    • Share your findings of the 3 additional keywords from the generator and explain how to incorporate each of these terms into the website.
    • Resources
    • Library Databases
    • Business Source Complete via EBSCO (articles): https://guides.rasmussen.edu/ebsco-business
    • Business via ProQuest (articles): https://guides.rasmussen.edu/pqbus
    • APA Guide
    • Use the Writing Lab for timely feedback to help you fine-tune your deliverable before you submit it for grading.
    • Click on the Business Reports tab in the Business Writing Guide for support with writing reports.

    Deliverable 5 – Conflict Resolution Strategy Plan

    MAN4240CBE Section 01CBE Organizational Behavior Analysis (11 Weeks) – CBE Online Course – 2024 Spring Quarter

    Deliverable 5 – Conflict Resolution Strategy Plan

    Deliverable 5 – Conflict Resolution Strategy Plan

    Assignment Content

    1. Competency
      Apply conflict management and negotiation strategies to decision-making.

      Scenario
      Recently, Johnson Consulting Company reorganized many of its departments worldwide to improve efficiency for working with customers. The leadership decided to combine its Customer Service and New Business Development Departments to allow both groups to experience working with new and existing customers. This move created one department where employees will work together to develop new customers while supporting existing customers.

      However, the move created conflict between the individuals involved with the reorganization in many South American locations, particularly in Brazil. For instance, the Customer Service Representatives were only handling existing customer issues before the reorganization, but the Business Development Specialists believe they should respond to new customer inquiries. Some of the Business Development Specialists prefer not to work closely with many Customer Service

      Representatives as they have demonstrated rude behavior to coworkers from time to time.
      As the newly appointed manager for both of these departments, you research Brazil's natural and cultural dimensions. Then integrate what you have learned about the country's culture in a conflict resolution strategy for the team.

      Instructions
      Develop a conflict resolution strategy plan that addresses the following:

      • What are two different types of conflict the Brazil groups are experiencing due to the reorganization? What bargaining technique would be most useful for addressing each of the different conflict issues? Why?
      • What elements of a negotiation should be considered when managing conflict in this situation?
      • What dimensions of Brazil's culture should be considered by management to determine the best way to address the situation with the employees in Brazil? How would resolving conflict in the U.S. differ from Brazil?
      • Use examples to support the understanding of concepts in a well-defined conflict resolution strategy plan.
      • Provide attribution for credible references used in the development of content ideas following academic guidelines.
      • As always, please keep in mind who your audience is and use correct grammar and spelling.
      • Use the Writing Lab for timely feedback to help you fine-tune your deliverable before you submit it for grading.
        Peer tutoring may be available for this course. Search for course-specific tutoring within Tutor Match.

        Resources

      • A-Z World Cultures
      • Gale Virtual Reference Library
      • Discovery
      • Business via ProQuest
      • APA Guide
      • Grammarly is available to assist you with proofreading your work.

       

      Deliverable 6 – Organizational Change Presentation

      MAN4240CBE Section 01CBE Organizational Behavior Analysis (11 Weeks) – CBE Online Course – 2024 Spring Quarter

      Deliverable 6 – Organizational Change Presentation

      Deliverable 6 – Organizational Change Presentation

      Assignment Content

      1. Competency
        Analyze the influence leaders have on organizational change.

        Scenario
        Every leader uses their traits, behaviors, and the circumstances of the situation to achieve successful outcomes. Organizational change is desirable to remain competitive, and leaders serve as change agents to ensure these changes are successful. You have been recently selected to lead an organization's change efforts concerning the recent pandemic. During the pandemic, the organization moved to a work from home (WFH) model.

        It has been several months now, and the WFH model proves to be highly successful for the company. Now the pandemic is gone, and the move back to the office is possible without sacrificing employee health and safety. Executive leadership has decided to continue the WFH module for the indefinite future; however, some managers in the organization want to move back to the office versus the continued working from home model.

        The CEO has tasked you to promote this change for the organization and encourage other managers to get on board. You are serving as the change agent leader for this project by creating a presentation for an upcoming manager kickoff meeting for the work from the home model initiative. Remember, the goal is to create "buy-in" and support from managers on this new initiative.

        Instructions
        Create a presentation with speaker's notes that:

        • Provides a title slide (1 Slide)
        • Provides an agenda (1 Slide)
        • Provides an introduction to the current situation and direction from leadership on the WFH initiative (1 Slide)
        • Discusses the most effective leadership styles needed to continue the success of the WFH model (1 slide)
        • Examines tactics managers can use in order to be successful in influencing individual's behaviors within the organization (1-2 slides).
        • Describes the importance of each managers contribution (traits, behaviors, etc.) on leading the organization through the WFH initiative (1-2 slides)
        • Provides a conclusion (1 Slide)
        • Provides attribution for credible references used in the development of content ideas following academic guidelines in a reference slide (1 Slide)
        • Uses examples to support the understanding of concepts in a well-created presentation
        • Contains presentation slides with only general information as a visual reference for the audience, and the speaker's notes should include the details of each slide
        • As always, please keep in mind who your audience is and use correct grammar and spelling
        • Resources
        • Gale Virtual Reference Library
        • Discovery
        • Business via ProQuest
        • APA Guide
        • PowerPoint tab in the Business Writing Guide

         

        Deliverable 4 – Organizational Teams Strategic Plan

        MAN4240CBE Section 01CBE Organizational Behavior Analysis (11 Weeks) – CBE Online Course – 2024 Spring Quarter

        Deliverable 4 – Organizational Teams Strategic Plan

        Deliverable 4 – Organizational Teams Strategic Plan

        Assignment Content

        1. Competency
          Justify the importance of building organizational relationships.

          Scenario
          New Age Creations is an interior design firm that specializes in high-end home designs. The business' customers are primarily from new home sales and turnover of existing homes. People who purchase houses are decorating the homes to fit their style. Recently, the company leadership team has noticed a slowing of business in the designing of expensive homes. Upon further market research, the team noticed that high-value home sales have slowed for new and existing homes. New Age Creations management also conducted market research on mid-level valued homes and noticed this housing market experienced dramatic sales growth.

          The leadership team concludes that the upper, mid-level priced homes market is a new market that they would like to enter to increase sales and communicate to both the design and sales teams to coordinate their efforts. Leadership has communicated details about the new market strategy and the focus to guide the design, sales, and work teams.
          A significant factor in developing positive organizational relationships amongst staff working in teams is effective communication for cooperating on shared decision-making to meet objectives. The design and sales teams will need to collaborate on the designs for the size and style of homes in this pricing category.

          You need to create a written strategic plan for the sales and design teams to work on the new business strategy that will be communicated to the leadership team.

          Instructions
          Create a written strategic plan that addresses the following:

          • Why will it be important for these teams to collaborate on the new business strategy? What will the organizational impact of the teams' collaborative work be to the new business strategy?
          • What are some of the strengths and weaknesses of team decision-making? How can team members ensure effective decision-making?
          • What modes of communication will the teams leverage to coordinate work and achieve team objectives?
          • Use examples to support the understanding of concepts in a well-defined strategic plan.
          • Provide attribution for credible references used in the development of content ideas following academic guidelines.
          • As always, please keep in mind who your audience is and use correct grammar and spelling.
          • Use the Writing Lab for timely feedback to help you fine-tune your deliverable before you submit it for grading.
            Peer tutoring may be available for this course. Search for course-specific tutoring within Tutor Match.

            Resources

          • Gale Virtual Reference Library
          • Discovery
          • Business via ProQuest
          • APA Guide
          • Strategic Plan tab in the Business Writing Guide
          • Grammarly is available to assist you with proofreading your work.

          Deliverable 1 – Digital Marketing Report

          MAR3817CBE Section 01CBE Search Engine Optimization and Mark (11 Weeks) – CBE Online Course – 2024 Spring Quarter

          Deliverable 1 – Digital Marketing Report

          Deliverable 1 – Digital Marketing Report

          Assignment Content

          1. Competency
            Evaluate strategies behind website pages’ ranking in organic search results and their impact on ecommerce.
            Student Success Criteria
            View the grading rubric for this deliverable by selecting the “This item is graded with a rubric” link, which is located in the Details & Information pane.
            Scenario
            You have been hired by the Bronx Zoo's marketing department to head up the Digital Marketing Team. The Director of Marketing has asked you to provide an overview for the new marketing team members and interns on best practices for a digital marketing campaign.
            Instructions
            Your report should address the items below as they apply to the Bronx Zoo:
            1. Discuss the concept, challenges, and advantages of integrated marketing.
            2. Briefly explain the zoo’s online presence in different channels.
            3. Review at least 4 best practices of a digital marketing campaign that would potentially be beneficial for the zoo.
            4. Remember, each of these points should be considered from the perspective of the Bronx Zoo. Your report should be 2-3 pages (APA format) in length, written with professional language, and use proper spelling and grammar. If references are used, they must be cited and listed in APA format on a reference page at the end of the report.
              Resources

          Submission

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