MKT501 WK 1 Responses. Business & Marketing Essay paper

Respond to Jessica and Jonathan with 135 words per person with references.
Jessica King #1:
Analyze one student's analysis of and rationale for the product target market profile. Critique the selections
The specific product that is being selected for this assignment, will be the creation of a financial literacy software program. The program will create a simulation which walks users through the financial literacy concepts. Using the US framework and VALS type assessment I was able to identify three potential consumer types. The three target potential consumers which were identified were innovative, achievers, and strivers. Each of these types directly benefit from financial literacy as these segments strive for empowerment and improvement. I would target these segments because they offer an opportunity to provide a service that is needed within society. Financial literacy unfortunately is void in the educational system, and many people are not prepared in the real world. Three possible places to advertise to these audiences will include direct to consumer through a website that uses SEO marketing, social media , and strategic partnerships with educational software programs like Kaplan.

Jonathan Breuhl # 2:
Analyze another student's discussion of customer profiling. Share ideas or techniques that can be used in communicating the product message with the target.
The service I plan on marketing is the use of Logistics and Program Management Consulting service for construction equipment. As Markgraf (n.d.) explains that the goal is to offer consumers a product the need and provide that service to satisfy those needs. This type of service can be beneficial to both federal or local government officials to manage their fleet of vehicles and equipment used in maintaining their own customers. This can also be applied to the civil sector companies who rent equipment to construction companies on a continuous basis.
The three type of VALS Types based on characteristics listed on the “US Framework and VALS™ Types” (n.d.) which this service will most directly apply to would be the Thinkers, Achievers an Survivors. The thinkers seek benchmarks to conduct business. As well as planning and researching for input prior to making decisions and acting on that information. Program Management will appeal to the Achievers group who are goal oriented and would be open to the established Program Manage processes. Lastly this would apply to the Survivors who are known for being risk adverse and are cautious as well as emphasize preservation.
References:
Markgraf, Bert. (n.d.). What Is the Role of Market Segments in Marketing Strategies? Small Business - Chron.com. Retrieved from http://smallbusiness(dot)chron(dot)com/role-market-segments-marketing-strategies-51988.html
US Framework and VALS™ Types (n.d.) Retrieved from: http://www(dot)strategicbusinessinsights(dot)com/vals/ustypes.shtml
Thanks,