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1. What are the different levels of market segmentation?
According to Finch, there are four levels of market segmentation: mass marketing, segment marketing, niche marketing, and customized marketing (2012).
2. Synthesize the segmentation strategies that manufacturers of personal computers should implement to attract both the GEN Y and baby boomer generation to increase their purchased of computers.
Most initial efforts of market segmentation begin with understanding what the buyer is seeking in a product (Finch, 2012). I would imagine that when baby boomers seek a personal computer, it is to satisfy a specific need. They would probably seek something basic, unless there is some type of software needed specifically to perform work-based assignments. They probably seek the internet and basic Microsoft office capabilities. Gen Y users are probably seeking something that has a lot of memory for storage of music, school/work related projects, speedy internet, and perhaps even something that comes with a web cam or other options used for social media.
The second step would be to name the segments and develop profiles according to similar characteristics between the buyers (Finch, 2012). For personal computers, I would split up the buyers based on basic, intermediate, and advanced level functioning and usage.
The third step would be to evaluate financial potential (Finch, 2012). I would imagine that more baby boomers would be able to afford the higher end computers versus Gen Y users.
The fourth step would be to select the target market (Finch, 2012). I would target the high school to college level students of Gen Y and their baby boomer parents. In this case, I would market the computer that is perfect for home based usage that can provide enough storage space for the Gen Y users along with all the cool accessories one may seek, while providing the basic functions...
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