MARKET SEGMENTATION & THE 4 PS

 Imagine you’re on a marketing team tasked with launching a brand new food product. As a member of the marketing team, you’re tasked with brainstorming a name for your product, identifying a specific consumer market to target with your product, and determining the 4 Ps associated with your new product.

Part 1: New Product Launch

1. Brainstorm a brand name for your new food product. Post the brand name and a brief description of the new food product. (ex. Gator Grahams: tasty cinnamon-spiced gator shaped cookies with a bite!) 
2. Determine how you will segment the consumer market based on the variables identified in Exhibit 6-1). See below for an example. Be specific!

• Geographic – Region: Southeastern U.S.
• Behavioristic – Purchase Occasion: Football Tailgating
• Psychographic – Lifestyle: Achievers
• Demographic – Age: 18-26, Sex: Female, Occupation: Student

Part 2: 4 Ps

1. Determine the 4 Ps of your new product. An example is below. Feel free to use other factors as outlined in the chapter (ex. product positioning, what the brand will look like, etc.) Be specific!

• Product – Positioning: a tasty, festive treat perfect for football season, Product Features: gator shaped cookie that’s healthy and delicious, Packaging: bright orange and blue bucket that looks like a football stadium
• Price – $5/bucket
• Place – Available for purchase at Publix, Target, Walmart, and Whole Foods
• Promotion – Launching a social media campaign, sponsoring the best tailgate contest, broadcasting radio ads on local stations throughout Florida