(Answered) Bulldefine and explain what segmentation is and discuss

Management Studies

• Define and explain what segmentation is, and discuss different segmentation bases you could use for your product/service.

• Based on your segmentation, describe each of the target markets that you would seek to reach. Explain why they will be the most profitable for your product/service.

• Develop a value proposition for your product/service through differentiation and positioning. Include the following:

• Introduce at least two (2) competitors and explain their current positioning in the market (what do they promise to deliver?)

• Discuss possible competitive advantages your product/service can use to differentiate itself from these competitors (product, services, channels, service, people or image) and select which one(s) to use to build your positioning.

• Based on this differentiation, explain your value proposition and develop a positioning statement.

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