1. When strategizing segmentation for the suburban markets, M&M Meat Shops will first need to look at demographics. They have already formed a specific target market focusing on Generation X women (35 years +), and where these consumers are geographically located, which in this case are the suburbs. This strategy however fails to incorporate the needs and wants for this market. To better create value, M&M Meat Shops will need to focus on geodemographics, which combines the demographic, geographic and lifestyle characteristics of the target market. Focusing and narrowing in on these lifestyles, M&M Meat Shops will look at the spending habits, trends, time constraints, and preferences of these targeted consumers.
2. M&M Meat Shops needs to consider what changes are occurring to their market segments when moving into an uptown location. These changes will help them create a new target market. The differences in the uptown locations compared to the suburban locations are more homeowners, an increase in disposable income and greater value put on the quality of the products and the physical appearance of M&M Meat Shops in that specific location. From these differences we can conclude that the same segmentation strategies cannot be implemented in both uptown and suburban locations because needs and wants differ amongst market segments.
3. M&M Meat Shops needs to use a combination of segmentation approaches because it is a more effective way to identify all possible target markets for their products. From the different markets created, they are then able to select which market segments will provide greatest ecominic return. Using multiple segmentation methods will grant M&M Meat Shops the advantage to deliver products that specifically cater to their target markets needs thus creating value for their consumers.
4. After comparing the Canadian MOSAIC to the US MOSAIC, M&M Meat Shops found some key differences and similarities. Some...
Please join StudyMode to read the full document