For your first assignment, I want you to come up with the total market size for fidget spinners in North America. If you don’t know what a fidget spinner is, check out this rockstar: https://www.youtube.com/watch?v=bunBgEDc8Kc.
I want you to come up with two potential market segments (check the book chapter on segmentation if you need a bit of background). Tell me about the market segments you have created and list the decisions you made to come up with your market size. Tell me the total market size for each segment. Tell me how much of EACH of those segments you could expect to capture with each of these two specific products:
To repeat: you will give an approximate market capture for each of the two products in each of the two markets, so you will give me four estimates in total.
Lastly, how would you convince people in each segment to buy those products? Write a short pitch for each, addressed to each market segment.
Please include references for any websites or information sources you use. You don’t have to reference your text.
I just answered a question to clarify the process. I answered it like this, hopefully this clears things up
For the assignment you need to:
- come up with two different customer segments for fidget spinners
- tell me how you came up with those segments (with references as required)
- Tell me how big the market size is for each of those segments in North America
- Tell me how much of those markets you can expect to capture with each of the two products I gave you (with some rationale as to why you think that)
- Write short pitches for those products to each of the two markets