BUS115 M 4 Assignment – Describe the consumer buying

BUS115 M 4 Assignment – Describe the consumer buying

Subject: Business    / General Business
Question
US115 Module 4 Assignment – Table Template
Student Name: Overview
In this assignment you will describe the consumer buying process of a significant purchase.
Using an everyday product, you will identify target markets. You will breakdown the marketing
mix (Product, Price, Place, Promotion) for each segment, identifying each element including
pricing strategies and tactics.
INSTRUCTIONS
1. Select a product, one that would be a more significant household purchase (a big ticket
item) than an everyday product. Describe the consumer buying process covered in
module readings as it relates to this purchase.
2. Using a table as the sample below shows, select an everyday product (dog food, cell
phones, running shoes, etc.). Show how different versions of the product are aimed
toward different market segments. Use the note section for explanatory comments or
observations.
This chart can be approached in two ways. In this example, products produced by
different companies in the same category (make-up), are identified for different market
segments. Another way is to select one company (Purina, Nike, etc.) and show how items
in their product lineup are marketed towards different segments.
3. Include a paragraph summary explaining how the marketing mix differs for each
segment in the chart.
NOTE: Market segments break down a larger market into smaller, more homogenous
groups using demographic (age, gender, education, income), geographic, psychographic
(consumer based interests or activities), and behavioral (usage, buying habits)
characteristics. 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. Market
Segment Product Pricing
(Strategies and
Tactics) Place Promotion Notes 4. Be sure to :
1. Use the Assignment 4 Word Document Table Template to help you complete this
assignment.
2. Incorporate in-text citations and correctly formatted reference(s), to properly
document your resource.
3. Use proper grammar, spelling, and formatting.
4. See Assignment Rubric under Tools on the Navigation Bar for Assessment
information.
5. Submit this assignment in the Module 4 Assignment Dropbox as a .doc, .docx,
.pdf or .rtf file.