When you are finished with Lesson 5-1, you will be able to:
- Describe how markets can be segmented by geographic location, demographic characteristics, psychographics, product usage, and benefits derived.
- Explain how to evaluate market potential and calculate market share.
- Log into your Google Drive account.
- Navigate to your Digital Marketing folder.
- Inside of the Unit 2 folder, create a new folder titled Lesson 5. Everything you create in Lesson 5 will be stored in this folder.
- Obtain a copy of the notes handout.
- Read Lesson 5-1 on pages 182-188.
- As you read, utilize this presentation to help you fill in the missing parts on the handout.
- Obtain your partner from your instructor.
- Discuss with your partner why geographic segmentation is important to marketers. You will be required to focus on four specific industries, products, and/or services and consider how consumers’ geographic location influences business decisions. You will be required to identify three different geographic locations to establish the importance of geographic segmentation.
- Create a Google Slides presentation titled Geographic-(Your Initials) and move it into your Lesson 5 folder. In your presentation, you will be required to showcase the four different industries, products, and/or services you chose. Within each of those, detail how you would market to each of the three segments you identified.