Ask Business Management Expert

Segmentation and Product Proposition

In the previous unit, you explored the role of market research in marketing strategies. One role of market research is to determine customer receptivity to new products. In this unit, you examine whether your new, fictitious product is right for your target market by going into more detail in STP strategies.

Many strategies are available within the umbrella terms of segmenting and targeting, including the following:

• Differentiation: Targeting different groups of customers and using different strategies for different groups (e.g. computer retailer places newspapers advertisements for home users, professional magazine advertisements for business professionals and small businesses).

• Concentration: Serving one of several potential segments of a market (e.g. computer retailer targets only businesses and ignores home users).

• Atomization. Breaking down the market to the smallest detail, often to the individual customer.

Strategies should be chosen based on their appropriateness or functionality for the brand proposition being developed. It is also important to have a good understanding of organisational capabilities when selecting strategies. Of the strategies just listed, for example, one is effective for organisations with only limited resources, whereas another is best employed by organisations marketing high-cost items. Do you know which is which? Your Readings and research will yield this necessary information as you create a segmentation, targeting and positioning strategy with your colleagues.

To prepare for this Individual Assignment:

• Building on the learning from previous units, review the Readings and research articles online regarding how market research informs segmenting, targeting and positioning.

• Review Agarwal et al. (2010). Consider the cross-cultural and cross-national models of perceived quality. These relate more to services, but could these themes resonate with products as well?

To complete this Individual Assignment:

Create segmentation, targeting and positioning strategies for your new, fictitious product (The product idea that I have chosen and I think would be a fit to the Middle Eastern region is a personalized sportswear and tennis shoes. The idea came to me after I saw the great success that Coca Cola had when it introduced the personalized Cans having names on them, Adidas can introduce personalized sportswear with names on them. The Tennis Shoes could also have a clear pocket from its side, This fictitous product that falls within the Adidas brand that was identified in Unit 1. For this Individual Assignment, include the following:

• Produce a graphic representation of your segmentation strategy for your new, fictitious product. Include any niche or subgroups in your graphic depiction that you think might be effective. Also include in your graphic representation a brief summation of the needs of each segment.

• In addition to this graphic depiction, write a 1,000-word paper that outlines strategies for creating or increasing brand equity for your branded product. Include:

o One strategy for targeting marketing efforts to each segment

o One strategy for positioning your product for each segment

• For each of the strategies, explain why they would be effective. Include specific examples and appropriate citations/support from the literature for your findings.

• Be sure to include specific examples and support your postings with evidence from the Readings and other current literature from the UoRL Library and other credible sources. Consult the Harvard Referencing Style Guide for proper citation and referencing information.

Business Management, Management Studies

  • Category:- Business Management
  • Reference No.:- M91183546
  • Price:- $35

Priced at Now at $35, Verified Solution

Have any Question?


Related Questions in Business Management

Name a company that addressed a recent ethical problem in a

Name a company that addressed a recent ethical problem in a positive way. Also, explain how or if this positively affects us as a community?

When it is appropriate to use the trade-off process what

When it is appropriate to use the trade-off process. What conditions apply, and the technical evaluation criteria that might be used?

Need help with a essay with the following phrase for

Need help with a essay with the following phrase for analyzing : " Capitalism is at the heart of how people and organisations are managed in contemporary society" May i ask for a better explanation of the question? Also ...

How could these three tenets of the auburn creed be used to

How could these three tenets of the Auburn Creed be used to motivate others: "I believe that this is a practical word and that I can count only on what I earn. Therefore, I believe in work, hard work." "I believe in educ ...

How can these two tenets of the auburn creed by used in

How can these two tenets of the Auburn Creed by used in addressing teamwork issues: "I believe in honesty and truthfulness, without which I cannot win the respect and confidence of my fellow men." "I believe in the human ...

Discuss the advantages of having and interacting in a

Discuss the advantages of having and interacting in a diverse workplace. Consider the wide range of ideas and perspectives that a range of team members bring to a team, that are of differing ages, ethnic backgrounds and ...

Parmigiano-reggiano global recognition of geographical

Parmigiano-Reggiano: Global Recognition of Geographical Indications What historical factors have helped support the consortium's claims for the geographic specificity of Parmigiano-Reggiano and Parmesan? What are the eco ...

Communication planthis communication plan will be a roadmap

Communication Plan This communication plan will be a roadmap on how the new division will best be able to communicate with Biotech's corporate headquarters, suppliers, other divisions, and internally. This should lay out ...

Discuss strategies to obtain feedback from a customer and

Discuss strategies to obtain feedback from a customer and clients when working in sales.

Describe different networking methods and the advantages

Describe different networking methods and the advantages and disadvantages of them?

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As