You are the Marketing Director for a large, global company (you may choose the type of industry your company is in). Your supervisor, the Chief Executive Officer (CEO) for the company, has asked you to develop and implement a new product for the company. This product might be a completely new product that currently does not exist, or it might be a modification of an existing product.

Given your idea, you decide to formulate a preliminary marketing strategy. Specific elements to include in this preliminary marketing strategy follow:

• Market Segmentation (a summary of how you would categorize your new product into these respective areas)
  • Demographics 
  • Psychographics 
  • Geography
  •  Behavior 
• Target Markets
  • Assess which market-coverage strategy you think would provide the best opportunity for your new product
• Positioning 

Answer rating: 100% (QA)

Industry Consumer Electronics New Product Smart Home Hub Market Segmentation Demographics Age2555 years old GenderMale and female IncomeAbove 50000 Ed... View the full answer