Week Four Reflection

This past week in HONB 200-02, the class only met once due to inclement weather conditions, however in that one class time we discussed the importance of segmenting and targeting markets for business marketing decisions. The class watched an episode of Shark Tank in which the product being pitched to the sharks, called Bambooee, is a reusable, eco-friendly towel that was created to replace paper towels.

We as the students were then given an assignment to create a print advertisement for this product based off of a random target market that was selected out of a hat. We each researched our selected target markets on a website called Claritas, and from this we were able to learn the age group and ethnicity that typically falls under the said market, as well as the market's demographics and lifestyle/media traits. The market that I selected was White Picket Fences. This market typically involves a younger family mix, which refers to those in upper-middle class that are married with children. Regardless of  whether the said families are just beginning to settle down and raise children or are approaching the stage in which their children are fully moved out of the house, this market segment encompasses them all. Those that are defined as being a part of the White Picket Fences category are more likely to enjoy reading, watching sports, and working on various craft projects. 

In order to address this specific target market in my Bambooee print advertisement, I made sure to emphasize the "going green" aspect of the product, especially reiterating the fact that for every roll of Bambooee purchased, a tree is planted. I purposely did this due to the fact that this segment involves an upper-middle class lifestyle in terms of financial income. Because of this, I believe that there would be a higher chance that those considered to be a part of this segment would willingly pay the higher price for a paper towel that is better for the planet, as opposed to regular towels that are immediately thrown away. This differs from less fortunate financial situations, whereas a family that is struggling to make ends meet would be more likely to not care what type of paper towel they buy as long as it's the cheapest option. When there is even a little extra income to go around in a household then this can make all the difference in terms of the products they choose to buy.

Furthermore, I made an effort to emphasize the fact that the Bambooee product is perfect for cleaning up all types of messes and spills, especially those made by children, pets, and crafts/projects. Considering the market segment that I was focusing on, I envisioned many upper-middle class households as having children and/or pets that often create messes and spills, as well as being involved in crafts and other at-home projects that need to be cleaned up upon completion. 

Upon learning the ways in which various target markets can be segmented, and the categories that they can fall under based on certain characteristics, I have gained a better sense of knowledge in terms of going ahead with the marketing plans for my team's SMART project, the Bed Bug. I plan on further researching the assortment of market segments that customers for our product could be a part of, and from then on, focusing on developing ways in which we as a group can reach out to these said groups through advertisements and media. In this past week, our group has created three different concept solutions, along with three different logos, that we will work together to refine and finalize. Once these are finalized, we will decide which one (or which combination of aspects from multiple concepts) will be our official solution.