You have selected what you believe is an ideal

Type:Individual ProjectUnit:Understanding Your New Target MarketDue Date:Mon, 5/30/16Grading Type:NumericPoints Possible:100Points Earned:0Deliverable Length:1,000–1,200 wordsView objectives for this assignmentGo To:Assignment DetailsScenarioLearning MaterialsReading AssignmentMy Work:Online Deliverables:SubmissionsLooking for tutoring? Go to SmarthinkingCollapse All | Expand AllCollapse All | Expand AllAssignment Details Assignment DescriptionWeekly tasks or assignments (Individual or Group Projects) will be due by Monday, and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time.You have selected what you believe is an ideal market segment to pursue with your advertising and public relations strategy. You believe that targeting this segment will reach your specific marketing objectives, ultimately meeting the bank’s long-term strategic goals. The bank president wants to make sure that the new segment is the best one available by determining if they are relevantly different than the present customer base.Using the bank scenario as a guide, discuss the following:Compare and contrast the similarities and differences regarding the needs, wants, and psychographics of your current and new market segment.Create and describe the key messages from a branding perspective that you wish to deliver to the new market segment that will provide the greatest impact.Explain why this message will appeal directly to the new market segment.Discuss whether digital or traditional approaches will provide the best promotional channels for your new target market, and explain why.Identify 2 communication channels that will reach your specific target segment, and explain why these are appropriate for your specific target segment.