Market Segmentation Product Development Strategy Analysis Paper

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P.C. GENIUS INC.
Team Paper: P.C. Genius Inc.

Part 1: Market Segments


The two market segments settled upon were workhorse and innovator. The key factor taken into consideration in selecting the two market segments was likelihood of success measured in terms of our ability to meet and satisfy customer needs and expectations as well as product pricing. With this in mind we plugged in two crucial variables namely; the probability of customers purchasing the products we offer for sale and the likely demand/likelihood of making actual sales.
When it comes to the probability of customers purchasing the products we offer for sale we sought to determine our ability to meet customer needs. In this case we established that the two market segments selected had high scores in counters of relevance to the company. For instance, while workhorse had a high score on the ‘peace of mind, safety, security, and no hustle’ front (i.e. 126), innovator registered the highest score in as far as the technical leadership position of the vendor was concerned (i.e. 131). Towards this end, it should be noted that most of those in the target market deem the company as a progressive enterprise on the…

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…In basic terms, we sought to establish the best approach to marketing that we could deploy in an effort to reach out to the target market.

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To a large extent, this was done following the realization that this was the very approach that would come in handy in efforts to direct product launch. It should also be noted that in efforts to reach the target market, we embrace the relevance of using the 4Ps of marketing. This is more so the case given that this particular model, as Kotler and Keller (2012) observe, helps in the definition of an enterprise’s “marketing options in terms….....

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https://www.aceyourpaper.com/essays/market-segmentation-product-development-2183039
   

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