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Project #$7-$ Chapter $7-$ Segment a Consumer Market

You're the marketing manager for a new high$-$priced perfume $($over $$100$ per ounce$).$ You've been tasked with segmenting the market for the new perfume and selecting the best segment to target first.

Your task is to clearly identify two separate market segments that make sense for perfume. You should use at least two of the four general segmentation categories for each segment you identify. $($geographic$,$ demographic, psychographic, behavioral$)$ Be sure you clearly identify and

describe each segment. $($As an example, don't say "high income" as this would mean different things to different people. Instead, you might say "earning over $$150,000$ per year.$)$

For segmentation, think about which things would come into play in identifying a good target audience. While you may repeat some variables for both segments, each should be unique in some way. $($As an example, you might use an income range or floor for each segment but do different age groups, marital status, gender, etc.$)$ Once you've clearly identified the two segments, select the one you'd choose to target first. Explain why you selected it using the metrics identified in your text. This may involve some research $($such as if you're using size$/$rate of growth, you'd want to justify this as a targeting approach$).$

Briefly defend your selection.