Marketing Methods: It's Popcorn Time

The purpose of this paper is to explain what marketing methods other businesses such as, Amazon, Starbucks, and Home depothave used. We will then see how and why IPT should use Segmenting, Targeting, Positioning, and differentiation. We must keep in mind that IPT is a small business and does not possess the same financial status as these other companies. We must find a way to implement these marketing methods with IPT's current financial status in mind.

First we need to understand what market segmentation is. Audience Dialogue defines segmentation as, "A marketing technique which involves grouping audiences into segments, and treating each segment separately for promotional purposes." (Glossary of Media Research Terms, 2005) The segments are usually found from survey data, using a technique such as cluster analysis. Key issues such as demographics, geographics, behaviors, and psychographics should all be taken into consideration if you want your business to succeed. Demographics determine key aspects from age to occupation. Geographic's determine key aspects from states to countries. Behaviors determine key aspects from product knowledge to responses. Psychographic determines key aspects from lifestyle to personality. In order to find these key factors, IPT or any other business, must analyze the needs and wants of its market segment before determining our own niche. Since IPT is a small business, we will need to find a way for it to target its market in the least expensive way as possible. There are a few ways IPT could do this. The first one IPT could utilize is watching competitors to see how they perform their marketing. If IPT finds their marketing effective then IPT could also use this type of marketing. Another cost effective way is researching publications. This will take some time but IPT will be able to see the disadvantages and advantages that each company has made over time.