MBA 5220 Marketing Management
Using the form below, identify the segments of the market in which you plan to market your product. You will first want to review the completed sample of this form. Complete the below form for all of the segments in your market, identifying the segments, their size, customer needs, customer behavior, and key demographics. Finally, for each segment, draft a one sentence profile of the typical customer in the given segment.
SEGMENTATION OF THE ____e-reader____ MARKET
Key Customer Needs
Convenience, service. Good price.
Bound by common interest
Usually older -- empty nesters (50+), female more important
Can use to distribute materials for a class.
Buying because they need it for a course. The school can load a text + all info onto the reader for less cost than a paper textbook
18-25. But you're selling it to the schools, so profs (30+, male & female) and administrators (40+). All employed/attending college/university
For use on things like projects; needs key materials/resources organized
Basically a substitute file folder that everybody can access.
30-60y.o., professional, project team setting. Corporate comptrollers need to be sold on the value of the device.
Best, Roger J., Market-Based Management: Strategies for Growing Customer Value and Profitability (5e), Pearson Prentice Hall, 2009, p.159
1. The first customer type is the hobby groups. These groups are often older, empty-nest individuals who have joined one or more hobbies/clubs. They are purchasing for the library-sharing ability. They will buy as a group, but must make this decision as a group, which means there are many decision makers. They have the money to buy, but are not necessarily tech-savvy, so the device and its functions need to be easy to use.
2. The student market can allow savings for students, if the textbook and all other materials are loaded...
Bonus if it can be used for multiple classes. The students are the payers, but the decision to adopt this technology must be made by the school, and with the acquiescence of the publishers. Get those two groups on board and this is a large market, and the students will have to pay. But if they are saving money, this will not be a big problem for them.
3. There is potential in the corporate market. The purchase would need to be approved by a purchaser/comptroller, but there is value in being able to use a simple device to keep all data/materials related to a large project in one place, accessible by the entire project team. If the reader can handle/edit things like PDFs, spreadsheets, databases and other business doc forms, this device can be quite valuable. If not, there may still be small niches that can be exploited.
Anticipated Critical Issues
MBA 5220 Marketing Management
Product Marketed: _e-reader Student:
List the key issues that you will need to address as you plan to market your product.
Copyright issues -- e-books are subject to IP protections, sharing in this way violates these, most likely. It's against the law to share movies and music, so it will be with books. You need book companies to sign onto this in order for the product to have value -- how do you get the book companies to sign on for something that encourages fewer book sales?
Group discounts for purchasing fewer books? Not going to happen
Market dispersion -- groups are disparate, scattered
E-readers losing market share rapidly; tablets winning this share
Product offers basically nothing a tablet doesn't
Requires bulk purchases by the entire group; that's a harder sell
Ultimately, you have to convince people that this product offers them something that their existing e-reader/tablet does not. And whatever…
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