Integrated Marketing – Market Segments and Target Audiences

Product to use is the Lexus UX!

Marketing managers should not assume everyone wants their products. People have differences, and marketing managers will need to separate consumers into groups with similarities. This process not only helps marketers in creating appropriate messages, the grouping will help with forecasting and efficient use of limited budgets. There is an abundance of secondary information to support marketers when making segmenting decisions. A good understanding of variables and how they relate to a product is key to marketing management effective planning.

Using the same product (Lexus UX) selected in the Unit 1 Assignment, profile the market segments that should be targeted. Using the consumer decision-making process — provide a list of potential consumer steps that would be common when they consider using your chosen product. This Assignment should be 2–3 pages in length using APA format. Since you are using market data to describe your target markets, your sources must be cited and references.

Organization of Assignment

• Cover page
• Description of product
• What is the potential market?
• What segments are more likely customers that you will want to target? Give a brief description of each segmentation used.
• List steps in the consumer decision-making process where consumers would consider your product. What might attract or distract the consumer during each step?
• Conclusion
• References

Example using a chart:

Geographic (customer location, region, urban/rural, weather)	Demographic (age, gender, occupation, socioeconomic group, sex, race)	Behavioral (rate of usage, benefits sought, loyalty status, readiness to buy)	Psychographic (personality, lifestyles, attitudes, usage intention)
Customers within 25 miles of Sienna, ND	College educated	Instant demand	Preference for green products

Review the complete Unit 2 Assignment 1 details and rubric.