Describe market segmentation and target marketing in a case scenario

Case Scenario: The product is a portable multimedia center, to be marketed in the U.S., called “Media Popup” and made by the startup company Porttron, Inc. The multimedia center is a glossy compact 10ʺ×12ʺ entertainment box. It includes a screen with optional additional screen extension that pops out of the right side; a computer keyboard that folds down; four surround-sound mini-speakers that can be adhered to any hard surface with the stick strips at the back of each speaker; and a subscription to streamed movies, music, and videos for 2 years — all for $499. It is available in three different colors (black, silver, and white

You are a marketing assistant at Porttron, Inc. tasked with providing a business memo (i.e., an internal company document) to the U.S. executive management team of Porttron, Inc. concerning the checklist items provided below.

Write a minimum 500-word original business memo. In a concise manner, describe to executive management the data you will analyze to determine a potential market for this product. State your purpose in the opening paragraph and provide sufficient information to explain the required items. Finally, provide a concluding paragraph to summarize your suggestions.

Checklist:

Identify either a consumer or business market.

Describes a minimum of four (4) bases each for segmenting the market for at least one market (see Chapter 8).

Identify four (4) segmentation descriptors (e.g., if a company chose usage-rate segmentation they might decide between heavy and light users).

Explain your rationale for the four (4) segmentation descriptors for at least one market.

Describe a minimum of 4 factors of the target market.

Identify a marketing mix (product, place, promotion, price) for the product.