select one (1) of the following segments and use your research skills to create a segment report detailing your understanding of your selected target market (segment). The segments are as follows:

1. Luxury Trend followers

For the purposes of this assignment, you may NOT select University Students. You will be selecting Luxury trend followers. 

The products you may explore are WATCHES. You will need to think about what type of product in this space might be of use for your target market.  

Your segment report should include the following information:

1. An introduction to the segment/target market group that provides context and a detailed definition of the segment parameters.
2. Properly cited integrated paragraphs that describe this group of customers (segment) using the segmentation variables as well as describes the market environment using the CRESTD categories discussed in class. A minimum of 3-4 categories should be applied.
3. A description of the product type that you have selected, and evidence to show how you might understand the segment's relationship with this product type.
4. A conclusion that summarizes your understanding of the segment’s size, impact, membership and values.

You are limited to a maximum of two pages for this assignment, and to a minimum of one page (not including the references and title page), single spaced. Please follow APA guidelines for formatting, with a minimum of 1.5 spacing.

Please use the following table to ensure that you have provided all the required elements of this portion of the assignment:

Segment Description

Describe in detail members of your selected target market (segment).  Each of the elements below must be supported with research, properly in-text cited and referenced.

CRESTD– are there any trends happening in the product category that marketers need to know about in order to compete successfully in this market segment or to this target market. This information may be location or city specific .Use research to support your decisions.

Segment Trends – what is happening in the larger context that is directly related to this target market? What is the size of the market, what is the, growth rate, what new innovations are they adopting, trends etc. supported by research.

Description of market segment in North America (size, trends, locations, etc.)– describe the overall generation that fits your persona, age range, size, growth or decline rate, purchasing behavior, facts that may be relevant to marketers etc. Use research to support your information.

Demographic Description– Describe your target market persona based on age, generation, gender, income, occupation, education, ethnicity etc.. Use research to support your decisions.

Geographic Description– Where does your customer persona live? What are the conditions? i.e. urban or rural, apartment vs house etc. Use research to support your decisions.

Psychographic Description– What do they value, what do they believe in? What is important to them? What do they like to do in their spare time? Use research to support your assumptions

Behaviours and Benefits–  What kind of behaviors surround the use of this product? How do they use the product?  How often?  What benefits they are looking for? Are they loyal to it?

Other products they purchase – using research what other products would your segment use. Use research to support your decisions.

Needs specific to the product type that you have selected – what does this segment need from the product you have selected - based on description of segment/person and based on research.

Answer rating: 100% (QA)

Segment description The luxury trend followers are young and older adults interested in luxury products and services such as expensive watches bags phones laptops cars and other products Members of th... View the full answer