Compare and contrast the similarities and differences regarding the  needs and psychographics of your current and new market segment.

Compare and contrast the similarities and differences regarding the  needs and psychographics of your current and new market segment.

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.

Please submit your assignment.