Today we looked at segmentation and targeting, market segmentation looks at the competitor landscape and consumer segmentation looks at consumer landscape.
In our seminar we were given a made up case study about a coffee shop called 'Hot Coffee, Cool Clothes'. We had to read through the case study and discuss how the company could improve and possible change their markets as they weren't being very successful. We made comments about how they had the coffee shop and clothes all in the same room and how that could make the clothes smell and also it would be difficult to relax if people are walking around you looking at the clothes, so we thought that it would be better if they had split the rooms into two. The company did a silly idea of doing very little market research as they only really spoke to friends who are likely to be biased which created most the problems the company had.
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