Application Assignment #2 Please read Chapter 9 and review the Chapter 9 PowerPoint Presentation. Then, using the information presented in the module, create 2 customer profiles. You will create a profile for yourself and a profile for a family member. Next pick a product or service and then explain how a company might change its approach when targeting the two customer profiles you created. Your response should be no more than 2 double spaced pages. Alternatively, you may submit your assignment as a video file. Module 9: Market Segmentation, Targeting, & Positioning To-Do Date: Oct 24 at 11:59pm Marketing Management with Dr. Taillon MODULE INTRODUCTION In this module, we will learn about commonly used geographic, demographic, psychographic, and behavioral segmentation strategies. We will also learn about strategies for reaching a target market and positioning, Please complete the following activities in Module 9 MODULE ACTIVITIES: Team Activities In this module, you and your team should make significant progress on the team project. By now you should have completed the following (review) a.) Reviewed the team project guide b) Formed team contracts (optional) c) State of the Business -Determined a mission and Vision statement ations In this module, you and your team should complete: The Customer Environment [5 W Customer Analysis Modell A WHO are the firm's current and potential customers? Describe the important identifying characteristics of the firm's current and potential customers with respect to demographics, geographic location, psychographic profiles, values/lifestyles, and product usage characteristics (heavy vs. light users). Identify the important players in the purchase process for the firm's products. These might include purchasers (actual act of purchase), users (actual product user), purchase influencers (influence the decision, make recommendations), and the bearer of financial responsibility (who pays the bill?). B. WHAT do customers do with the firm's products? How are the firm's products connected to customer needs? What are the basic benefits provided by the firm's products? How are the firm's products purchased (quantities and combinations)? Is the product purchased as a part of a solution or alongside complementary products? How are the firm's products consumed or used? Are there special consumption situations that influence purchase behavior? Are there issues related to disposition of the firm's products, such as waste (garbage) or recycling, which must be addressed by the firm? C. WHERE do customers purchase the firm's products? Identify the merchants (Intermediaries) where the firm's products are purchased le.8. store-based retailers, ecommerce, catalog retailers, vending, wholesale outlets, direct from the firm), Identity any trends in purchase patterns across these outlets (eg, how has e-commerce changed the way the firm's products are purchased?), D. WHEN do customers purchase the firm's products? How does purchase behavior vary based on different promotional events communication and price changes) or customer services (hours of operation delivery)? How does purchase behavior vary based on uncontrollable influences such as seasonal demand patterns, time-based demand patterns, physical/social surroundings, or competitive activities? E WHY (and how) do customers select the firm's products? Describe the advantages of the firm's products relative to competing products. How well do the firm's products fulfill customers' needs relative to competing products? Describe how issues such as brand loyalty, value, commoditization, and relational exchange processes affect customers purchase behaviors. F. WHY do potential customers not purchase the firm's products? Identify the needs, preferences, and requirements of non-customers that are not being met by the firm's products. What are the features, benefits, and advantages of competing products that cause non-customers to choose them over the firm's products? Explain how the firm's pricing, distribution, and/or promotion are out of sync with non-customers. Outside of the product, what causes non-customers to ans