Overview: For this first milestone, due in Module Three, you will prepare a PowerPoint presentation (minimum of 7 slides) summarizing the research on segmentation strategies you have so far considered to market the consumer product you are proposing for your final project.
Prompt: First, review your work in Modules One and Two, as well as your posts and response posts in the Module Three discussion.
Prepare at least three slides summarizing your market research so far: What consumer segment does your selected company serve in, and why are you pursuing it? What are two to three resources you might use to obtain information on consumer behavior? Provide a rationale regarding why you selected each one. What secondary research will you use to analyze the characteristics of the chosen segment?
Prepare at least four slides summarizing the market segmentation you have so far considered: Which marketing approach will you use for your segment? Why do you believe it will be effective? What are the key points about the approach used to segment your selected market? What is it based upon? What is your selected consumer segment? Why do you believe it is a good fit? What are the research needs for each segment?
Using the speaker notes, provide any additional details of importance regarding the bullet points you addressed on each slide to further explain the information.
Specifically, the following critical elements must be addressed:
I. Market Research A. Select a consumer segment that your company serves, and describe why this segment is worth pursuing. B. Identify and qualify research sources that can be used in obtaining information on consumer behavior. C. Analyze the characteristics of the chosen consumer segment using secondary research.
II. Segmentation This section is where you will apply the information gained from your market research to your identified market segment. A. Determine appropriate marketing approaches for your market segment, and explain why these approaches would be effective. B. Evaluate the approach you used in order to segment the market. C. Describe the consumer segment you have selected. Explain why they are a good fit for the product. D. Determine the research needs for this segment, and provide rationale for each need.
Work so far:
I’d like to use Nike for the final project. I used Nike in one of my other marketing classes and found their tactics often risky and interesting so I would like to dive deeper into
Three sources for Nike consumer behavior analysis are:
https://www.similarweb.com/website/nike.com
https://www.marketing91.com/swot-nike/
http://panmore.com/nike-inc-marketing-mix-4ps-product-place-promotion-price-analysis