1. Identify and briefly describe the product or organization about which you will be reporting. Explain why you selected this particular product or organization. What is interesting or important about it?
I will be reporting on the iPhone 6. I selected this product for two years. First of all, I’m a devoted Apple user (I use the iPhone, the iPad, the iPod, and my MacBook). Secondly, the iPhone is considered one of the premiere smartphones of choice in the United States with there being 63 million iPhone users (Statista).
2. Describe the target market(s) for your product or organization. Include as many bases for segmentation as possible. There are multiple homogeneous groups of customers that Apple appeals to with its iPhone 6. The first group is millennia’s and teenagers. Teenagers are the technology generation and the iPhone 6 offers the premiere way to access social media. The second group is business people. The iPhone 6 offers a way to communicate easily, finish work efficiently, and keep work material organized. Apple also appeals to college students with the iPhone 6. It offers quick communication between professors and classmates, a way to keep notes organized, and constant entertainment. Finally, Apple appeals to adults with the iPhone 6. It allows for stable internet connection, a state of the art GPS, and a high quality camera.
3. Analyze specific segments that make up the target market(s) according to the four criteria for segmenting a broad product-market (homogeneous within segments, heterogeneous between segments, substantial, and operational). The business segment of the smartphone target market is both heterogeneous and homogenous.
• Demographic – The phone is used for business purposes by people across a wide range of sex, income, and age.
• Geographic – The use of the iPhone 6 is not limited to any geographical barriers.
• Behavioral