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Please complete part 1 and part 2 in seprate documents

Please complete part 1 and part 2 in seprate documents

Question Description

Part 1(300 words)

  1. Say you’ve got a friend who is an entrepreneur. She’s making the best software, wine, or whatever, that the world has ever seen. She is certain that everyone will like her new product, so she thinks your idea about segmentation is not necessary. How can you convince her and help her with her business.
  2. Discuss how you might obtain data to segment visitors to your city’s public parks, by day of week and time of day? What would you expect to find?

part 2 (350 words)

Activity: Why do you think market segmentation is important and what impact could it have on a company? Does a successful company need to segment at all? Identify four different products that represent market segmentation based on demographic, geographic, psychological, and behavioral features and discuss how each product’s advertising reflects this segmentation.

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