Entrepreneurship Assessment (Week 5)

It is the strategic marketing approach and process that is intended to define the specific customer of the product.

It is that the market is divided based on the variables such as perceptions, knowledge, reactions, benefits, loyalty and responses.

Carl and Patricia want to start their restaurant business focusing on street foods. Jose is thinking of idea on limiting the market into their similarities in religion since certain religions prohibit eating specific species. He wants to find the best strategy to satisfy their needs and wants. If you were Maria, what would you recommend to Jose?

DITO company is providing unlimited call and text services throughout Mindanao. The features of these services for consumers in Cotabato may be different from those for consumers living in Cagayan de Oro. If you are the manager of the company, what segment method will you choose to make sure that the services of your company will fit the needs of the respective market?

Bench used segmentation by personality (and profession) in coming out with different fragrances in the past. They classified women into five groups: energetic, romantic feminine, experimental, elegant charming and fresh. What method did Avon used?

Your potential market is your actual market.

After segmenting the market, the entrepreneur must conduct a proper and critical evaluation of every segment.

It is not a requirement for an entrepreneur to segment the market.

Market segmentation applies only to small entrepreneurial ventures.

All the information you need for your segment is publicly available.