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Mobile Manufacturing Inc.
Memorandum
Mobile Manufacturing Inc.
Date: February 27th, 2018.
From: Marketing Manager
Subj: Targeted market segments for the new product
To: General Manager
The purpose of this memo is to address the issues concerning the marketing of the new product launched by MM, explain what target market is used and why the market was a focus of attention to sell the product.
The market segment selected for this new product is job holder individuals. That is because the functions of the product align with the needs of people that have a full-time and will need their phones at all times for professional use. These people have to check and respond to their emails and get connected to people. They also need to ensure that their phone has the functionality to link them to their family and is not just a work phone. For that, this new product addresses their needs by providing them with built-in applications for emails and also has applications for other social media.
Another factor worth noticing here is that these employed people need their phones for an extended duration of time and might not have the resources to charge their phone every now and then. For that matter, the new product will be ideal for them, and they can use their phone for at least the time they are at work without having to charge it. The target market needs a lot of space in its phone and needs a high-speed device. In that regard, they will be a promising market segment for the new product and are expected to generate a high amount of revenue.

The market is located in any commercial area where employers are situated. Although these people are also present in the residential localities but since their employment needs are the reason they fall within the target market net, the commercial side of the geography will be a better representative of their location. One of the factors that psychologically matter a lot for these customers is their sense of satisfaction and the idea that their company cares for them. If that perspective is maintained by the service provider, it can become a pretty lucrative market CITATION Edi14 l 1033 (Editorial Board, 2014).
Since these people need their phone for professional activities, even the slighted things that might not make a difference for residential customers will be crucial for this market. For instance, how quickly the phone responds when it is bombarded with emails and phone calls. Or how well the phone performs if it is being used to do multiple things at a time. Also, specific features and application compatibility that can be trivial for other customers might actually be the entire product for the customer in this case CITATION Cou18 l 1033 (Coursebuilder, 2018).
For any new product, aiming the right target is essential and one of the factors that represent if the market is right or not are the behavioral characteristics of the market. These are important because how the customers in the domain behave defines the path of growth of the new product. For instance, if the target market is not prone to innovation and wants anything that follows the same patterns like the old product so that they continue using it, it means that any innovation will be discouraged by these customers CITATION Cou181 l 1033 (Coursebuilder, 2018). For this new product, most of the features will remain the same, but everything is more efficient than ever. That is why these people are expected to embrace and appreciate how the outlook and features were made better.

References
BIBLIOGRAPHY Coursebuilder. (2018). earning From Experience: Aiming at the Right Target. Retrieved February 27, 2018, from Coursebuilder Website: http://coursebuildercontent.careeredonline.com/Assets/60000/55514.pdf
Coursebuilder. (2018). Lessons From Experience: Tracking the Skippers. Retrieved February 27, 2018, from Coursebuilder Website: http://coursebuildercontent.careeredonline.com/Assets/60000/55506.pdf
Editorial Board. (2014). Marketing Management (Vol. 1). Schaumburg: Words of Wisdom, LLC. Retrieved February 26, 2018