subject Paramount plus. I. Market Segment Analysis

Please determine and describe the current primary segment. A client has an interesting question about the target market that can be perceived by the current messaging for their product or service. To do this, please visit the public website for your company's product or service and analyze the messaging available. Based on the information gathered from the website and any other publicly available sources, please infer the primary target market.

Please describe the primary segment that your company is targeting with this product or service. Please focus only on this product or service.

Segment characteristics: behavior, demographics, and psychographics. Name segment appropriately. (Ref: Segmenting and Targeting Markets and Customers)

Classify the primary segment according to one of the VALS types discussed in the Segmenting and Targeting Markets and Customers Learning Resource.

II. New Market Segments

Construct new segments. Your client company is interested in diversifying and building its target customer base for this product/service in the US market. Who is currently being underserved or overlooked? Who could be better served by being addressed directly?

As per the assignment, you are required to create and explain two new potential segments or subsegments that can be targeted by your company for its product/service in the US market. You need to describe each new segment based on its behavioral, demographic, and psychographic characteristics, and give an appropriate name to each of them. To complete this task, you need to follow steps 1-4 of the process mentioned in the Selecting Target Markets Learning Resource. Firstly, identify the customer need for your product/service, then break down the market into subgroups, and develop profiles of target segments. Finally, conduct secondary research on your two segments. Please note that you do not need to develop a full research plan or conduct primary research for this assignment.

Of the two potential segments or subsegments you have created, which of the two has greater market potential for your company to target? Why?

Classify your new segment or subsegment according to one of the VALS types discussed in the Segmenting and Targeting Markets and Customers Learning Resource.

III. Recommendation

Please provide a recommendation on the best new segment or subsegment that your company should target for its product/service. Additionally, create a customer persona that represents this segment or subsegment and illustrate it in a table using the following fields: [segment name], [representative photo], [demographic], [background], [needs], [goals], [challenges], [perceptions], [motivations], and [VALS type].

To make it easier to understand, please refer to the example of a customer persona provided in the following link: 3 Examples of a Customer Persona - Simplicable.

Any product changes needed by this segment or subsegment? Are any product/service changes required to serve the segment you have identified? If so, what are they?

Is the identified segment attractive enough to justify a long marketing campaign or just a limited one? Why?