Option 2: Market Segments
Select two new customer segments for a brand of your choice, and name them. You may create a name based on their characteristics. For example, if you chose a coffee brand, you may have the Serious Sippers as a customer segment and the Dabble Drinkers as the second.
Distinguish the primary and secondary markets.
The primary market is normally larger than the secondary market. These customers primarily use the product the most.
The secondary market can include customers who might use or be interested in the product only occasionally.
Detail the demographics and psychographics of both market segments.
Include the basic characteristics of your current and potential customers such as age, gender, income, education, ethnicity and geographic locations. You may use existing data.
Examine your customers’ lifestyles such as hobbies and other interests. Explain how these lifestyles may affect the purchase decision for this product.
Your paper should meet the following requirements:
3-4 pages in length, not including title and reference pages
Formatted according to APA Requirements
Include at least 3 outside sources