Airpods market segmentation

o Segmentation and Targeting. o Discuss what segmentation approaches would be used to derive potential segments o Once the potential segments are derived, discuss what criteria for evaluating the segment attractiveness have been used to select the final/chosen segment(s). Clearly substantiate the criteria that you have chosen and use available statistics on market size, market growth and etc. o How will you target the chosen segment(s) and what targeting strategy will be used and why? References and Writing Style References Proper references are required for the final project. This includes in-text citations in the body of the paper where necessary and a list of references at the end of the paper. All references are in APA format. You can use referencing feature from Microsoft Word. Please follow this link: https://support.office.com/en-us/article/Create-a-bibliography-17686589-4824-4940-9c69342c289fa2a5 (if this link is no longer valid, use Google to search for the topic) You do not need to and do not quote from the textbook that is being used for this semester, as I am your target audience! Using References Do not string together references and let them overshadow your writing!!! References are used strategically to strengthen your arguments. You should develop your ideas and supporting arguments first, and then insert appropriate in-text citations to reinforce your ideas. Writing Style The final report should be written in formal writing style. The formal and impersonal nature of reports can be achieved by avoiding certain types of language such as slang terms and contractions (didn't, won't etc) as well as strong expressions of opinion and attitude. Contractions are reserved for quotes only. In addition, the use of the passive voice (were specified, it is suggested, and etc) allows writers to foreground what was done, rather than who did it, thus making the writing less personal. A more objective, impersonal tone is achieved through the use of formal and impersonal language. Some examples of expressions you may use in your report include: This research indicates... The results suggest... Conclusions that can be drawn are.. The company decided to… The product was created to… The target customers are… Based on the segmentation approaches, the potential segments are… The following recommendations are made... Format for Effective Writing: Include Use subheadings to divide sections. Use paragraphs to accentuate ideas. Each paragraph should contain elements in this order: • • • State the claim of your arguments or your choice/recommendation; Substantiate them with materials in the case or additional research if applicable; Draw conclusion summarizing your arguments. The paragraph should not be over 80 words or about 6 or 7 lines to facilitate comprehension. If the paragraph ended up being too long, break the sets of ideas down and develop shorter paragraphs for each set of ideas. Tables, Graphics, and Figures Use relevant and appropriate graphics to jazz up the cover page of the report. Tables, graphics and photos are placed immediately after where they are first referred to in the body of the text. The reader should also be referred (by number) to the diagrams at the appropriate time in the text and the most important features pointed out to them. Tables, and graphics and photos (called figures), should be sequentially numbered. Titles for tables are centered above the table. Titles for figures are centered below the graphic. The source of the table or figure should also be included. The source is usually in a smaller font (e.g. 10 point) and aligned on the left hand margin under a table, and under the title of a figure. APPENDIX/APPENDICES The Appendix/Appendices contain important data, explanatory and illustrative material not included in the text. Fonts and Spacing In general, use a ‘serif’ font (such as ‘Times New Roman’). They are more comfortable to read. Fonts should be a minimum of 12 point and 1.5 line spacing is recommended unless otherwise specified. Titles and headings may be in a bold ‘sans serif’ font (such as ‘Ariel’). A blank line, but no indentation, is used between paragraphs. Segmentation, Targeting Quiz yourself • How does a firm decide what type of segmentation strategy to use? • What are the different ways of describing a segment? • What is targeting? • What is positioning, and why is it important? • How do perform a perceptual map? • What is a positioning statement? • What are the key components in a positioning statement? STP PROCESS © 2009 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin SEGMENTATION APPROACH Focus on customers’ benefits (gains), removing (pains) and satisfying their needs Underlying premises: • Customers seeking benefits that products provide, not necessarily the physical products • Benefits are understood/experienced under certain contexts/usage occasions. Therefore, different usage contexts require different benefits, thus different “use/benefit” market segments. E.g. Same customer might need different things in the morning, at home, or out having fun, same customer. TRADITIONAL APPROACHES TO SEGMENTATION Segmentation is about identifying basis (buyer characteristics) and subdivide market based on market potential.