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Michelle has asked you to send her a memo that explains the target market for MM’s new product. Because a global market is under consideration, she wants you and Elena to meet for an in-depth discussion of the different characteristics of your target market before sending her the information.

Elena meets you for coffee the next morning to explain her reasons for advocating the global market. As you finish your discussion, Elena stops and says,

“We’ve discussed a lot of different market segments to target with the new product, but the choice comes back to you,” says Elena. “What’s your final decision on the target market that we should focus on? Are you going to propose that we try to market this product globally?

You sigh, knowing this is a key decision in your marketing strategy. “I appreciate our discussion today. I’m going to have to do some more research to determine the exact market and if we should go global or not.”

You know Michelle is expecting a detailed description of your targeted market segment including justification for selecting the market. You also need to remember to include your recommendation for or against marketing globally.

  • What are the demographic characteristics of your target market and why are they important?
  • Where is your target market located geographically and why is that important?
  • What psychographic characteristics define your target market? How do these impact your marketing strategy?
  • What behavioral characteristics are shared by your target market? Why are these important? 

mnarketing homework help

  1. Pick four products (one for each category) that you think belong to each of the following stages:

Introduction

Growth

Maturity

Decline

  1. Provide reasons and evidence for your selection.

2-3 pages

Scenario Marketing

Congratulations. You have just been named marketing manager of a major franchise. Your job will be to perform the daily tasks of a marketing manager.

So what does a marketing manager do? As you know, marketing plays an essential role in almost every industry segment. In its simplest form, marketing management is about making certain that customers’ needs and wants are met while increasing the profits of a company. A marketing manager’s responsibilities can vary a great deal, but will always have this as a central purpose.

See Attachment for Details.