Why do you think market segmentation is important and what impact could it have on a company?

Why do you think market segmentation is important and what impact could it have on a company?

Part 1: Read Chapter 3. Segmentation. and write a brief summary on a chosen topic.

Also, provide a graduate-level response to each of the following questions:

1. Say you’ve got a friend who is an entrepreneur. She’s making the best software, wine, or whatever, that the world has ever seen. She is certain that everyone will like her new product, so she thinks your idea about segmentation is not necessary. How can you convince her and help her with her business.
2. Discuss how you might obtain data to segment visitors to your city’s public parks, by day of week and time of day? What would you expect to find ?

Part1: needs to be 500+ words and also in APA format, please cite all references properly.

Part2:Activity: Why do you think market segmentation is important and what impact could it have on a company? Does a successful company need to segment at all? Identify four different products that represent market segmentation based on demographic, geographic, psychological, and behavioral features and discuss how each product’s advertising reflects this segmentation.

The assignment is to answer the question provided above in essay form. This is to be in narrative form and should be as thorough as possible. Bullet points should not to be used. The paper should be at least 1.5 – 2 pages in length, Times New Roman 12-pt font, double-spaced, 1 inch margins and utilizing at least one outside scholarly or professional source related to marketing management. The textbook should also be utilized. Do not insert excess line spacing. APA formatting and citation should be used.

Part2: 1.5 to 2 pages in length, cite all references and in APA format.

Note: Textbook is attached for this assignment.