Module 2-Week 6: Target Market Selection

Learning Outcomes

  • Investigate the definition of market segmentation.
  • Assess when to apply market segmentation.
  • Examine the five steps involved in segmenting and targeting markets.
  • Critique the importance of green consumerism in segmentation.
  • Develop a market-product grid to identify a target market.
  • Judge how marketing managers position the products in the marketplace.
  • List two types of positioning. 
  • Construct a perceptual map and apply into positioning.
  • Distinguish three approaches to developing a sales forecast for a company.

Description

Week 6 is about target market selection. We examine the process of segmentation including the most commonly used variables in segmentation. We discover how to utilize a market-product grid in target market selection. We also consider positioning of products/services which requires the concept of perceptual maps. Finally we examine sales forecasting. Three main methods in sales forecasting are introduced with examples.     

Related Readings  

It is recommended that you complete the accompanied readings from the course textbook that complement the lessons. The readings include content and additional examples that will allow you to achieve the indicated learning outcomes as indicated in your textbook for Chapter 9 and will cover content for Week 6. You will be expected to achieve learning outcomes LO1, LO2, LO3 and LO4 (Lesson 6.1 and 6.2), and LO5 and LO6 (Lesson 6.3) for this chapter.      

Lessons

  1. Market Segmentation
  2. Steps of Segmentation
  3. Product Positioning and Sales Forecast

Activities and Assignments