Segmentation & Opportunity Analysis DB

Kristen businessdictionarycom 2013retrieved from

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Unformatted text preview: g makes me more health conscious. I think the added line about may help lower cholesterol is a great way to target the adult market and keep their interest, particularly as so many other health-concious cereals have entered the cereal market in recent years. Kristen (Post is Unread) Thread: Post: Author: 19 of 30 Segmentation & Opportunity Analysis RE: Segmentation & Opportunity Analysis Kristen Hohmann Posted Date: Status: March 6, 2013 11:27 AM Published 5/22/13 10:13 AM Collection Professor and Class, “The purpose for segmenting a market is to allow your marketing/sales program to focus on the subset of prospects that are "most likely" to purchase your offering. (Business Resource Software, Inc.).” Targeting the group(s) of customers your product should be marketed toward by first determining who will need the product, the demographics, trends, and other factors that help to determine who will most likely purchase the product. For example, a cereal manufacturer target market is breakfast eaters, which can then be broken down into market segments by gender or age. Determining if the cereal will be attractive to children, or adults, male or female, of what age, health conscious, etc., will help market that product toward a more specific group. Advertising such as, Cheerios may reduce your cholesterol, is targeting individuals concerned with lowering or maintaining lower cholesterol levels for better health. Opportunity Analysis, as taken from the website, is defined as “an application of forecasting techniques to the market factors that may influence the demand for a product identified as a market opportunity”. An analysis of what opportunities are available for the product, are one of the first steps in creating a Business Plan. Again in the instance of a particular type of cereal will help determine if there is a market segment that this cereal will fulfill the needs of, or “how and to what extent the need is being met currently and the gaps that you have identified as the business opportunity” (Vikrant, 2...
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This note was uploaded on 02/08/2014 for the course BUS 504 taught by Professor Robinchase during the Fall '12 term at Post.

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