Describe market segmentation and target marketing in a case scenario

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Describe market segmentation and target marketing in a case scenario. Using the information on the target market you learned from your reading, original research on the Internet, and the various learning activities provided, read the scenario and respond to the checklist items in a business memo format. 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 Portaltron, Inc. The multimedia center is a glossy compact 14″×10″ 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 (red, black, grey, and white). Business Memo: You are a marketing assistant at Portaltron, Inc. tasked with providing a business memo (i.e., an internal company document) to the U.S. executive management team of Portaltron, 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. Describe a minimum of four (4) bases each for segmenting 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. Describe a minimum of 4 factors of the target market. Identify a marketing mix (product, place, promotion, price) for the product. In a minimum of 2 pages (500 words) in a Microsoft® Word® document, write the business memo using the current APA format and citation style. Submit your paper to the assessment Dropbox. Disclaimer: This exercise may include actual companies and brand names solely for instructional purposes; this exercise is not associated with any such actual company or brand name. All trademarks remain the property of their respective owners.