Last night, Assistant Professor of Marketing and Project Executive with Fox Management Consulting, Becca Zinn, shared her insights with students on how to segment their market and develop the best value propositions for their customers.  This IEI workshop was called “Market Segments & Value Propositions,” which took place in the IEI lab at 4:30 p.m.

Throughout the workshop, Becca explained why it is most important to focus on the segment market by grouping them into categories, including geographic, demographic, psychographic, behavioral and benefits sought.  Segmentation benefits both the buyer and the seller.

Professor Zinn shares, “If you want to be effective to market to a particular segment, you need to break down the segment into sub-segments or multiple segments (millennials).”

Students learned that relationships with customers take time. For example, to be successful, you need to understand your customers in order to match them with your business. Once you understand your customer, you then need to understand your benefits to the customer and what you have to offer.

After Professor Zinn’s PowerPoint presentation and discussion, students broke into groups and worked on determining and applying what they learned with an activity Becca had designed. She then went to each group to speak with the students about their plans.

The PowerPoint presentation from last night’s workshop will be posted on the IEI website. If you are someone who is participating in the BYOBB competition, it would be in your best interest to take a look at the presentation and reach out to Professor Zinn with any questions if you were unable to attend the workshop.