Business Memo Assessment 2022

Running head: BUSINESS MEMO
BUSINESS MEMO
Name of the student
Name of the university
Author note

BUSINESS MEMO1
To: ::::::::::::::::::::::::::::
From: :::::::::::::::::::::::::::::::
Date: :::::::::::::::::::::::::::::::::
Subject line: Conceiving an idea on the target market of MM’s new product
Opening
It is to bring to your notice that our organization, MM, is planning to introduce a new proposition
in the market. Therefore, it is necessary to identify the target population that might be considered
by our business. In this regards, the purpose of the memo is to conceptualize and recommend the
most suited target market for our business.
Discussion
The business is proposing a new offering for which we are considering the target market
assessment with the purpose of positioning the propositions effectively. The target customers
will be divided between four criteria- demographic, geographic, psychographic and behavioral.
Demographic characteristics of the target market
The demographic segmentation of the target customers will be people within the age group of
23- 38 years, the millennial population. The primary target market will include both male and
female customers and are job holders with an annual salary ranging from $50,000- $75,000.
The organization will also target the customers with minimal educational qualification of a
university graduate. The assessment of the demographic characteristics supports an organization
in idealizing the most suited customer base while developing an idea on the age, gender, income