Principles of marketing/PMKT101/Segmenting markets target audiences/Segmenting markets skills challenge tasks
- Review the Stimulus Resources, including the video and instructions for the hamster wheel standing desk.
- Imagine that the inventor of the hamster wheel standing desk wants to make money from his idea by selling ready-made items and/or do-it-yourself kits.
- Identify and qualify key target markets for this product.
- Explain how you will position the product within the target market, and communicate its key product attributes (i.e. price, performance, functionality, etc.).
- Develop proposed key messages for one of these target markets and explain why you believe these to be effective.
- Identify proposed channels (e.g. Facebook ads, Twitter, posters, newspaper ads, bus / train shelter ads, email marketing, website, etc.) for delivering the key messages to this target market. Explain why these will be effective.
- Respond substantively to at least two (2) of your peers / colleagues who have made blog posts. Look in the Course Feed to find their post.
Here are some questions you may want to think about when preparing for this learning challenge:
- Who will use this product and why? Who does it appeal to? (Are they office workers, fitness enthusiasts? Are they men, women, people of a particular age, culture, income level and other demographic factors?)
- Where do they live (geographic segmentation)?
- What behaviours do they exhibit? (E.g. do they go for brisk walks; eat nutritious food; participate in sports? Do they blog about their accomplishments - on which blogs? Do they use Facebook, Twitter, Instagram, or other social media?)
- What benefits are they looking for? (E.g. fitness and well-being, status, cool factor, price sensitivity / economy, etc.)
- How can you do to differentiate this product from the competition? How can it exceed customer expectations? How are you able to communicate this value?