Question 1: Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.
Also, provide a graduate-level response to each of the following questions:
- Say you’ve got a friend who is an entrepreneur. She’s making the best software, wine, or whatever, that the world has ever seen. She is certain that everyone will like her new product, so she thinks your idea about segmentation is not necessary. How can you convince her and help her with her business.
- Discuss how you might obtain data to segment visitors to your city’s public parks, by day of week and time of day? What would you expect to find ?
Question 2: Why do you think market segmentation is important and what impact could it have on a company? Does a successful company need to segment at all? Identify four different products that represent market segmentation based on demographic, geographic, psychological, and behavioral features and discuss how each product’s advertising reflects this segmentation.
Question 1 should be 2 page paper and question 2 should be 1 and half page paper. Your paper should be in APA format (including Times New Roman with font size 12 and double spaced). APA formatting and citation should be used.