Create your own marketing strategy for it.
• 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:
o Introduce at least two (2) competitors and explain their current positioning in the market (what do they promise to deliver?)
o 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.
o Based on this differentiation, explain your value proposition and develop a positioning statement.
• Describe the function of marketing and demonstrate its importance to the overall success of the organization
• Illustrate the environmental forces that effect marketing
• Explain how companies can position their products for maximum competitive advantage in the marketplace
• Demonstrate investigative/research skills
• Demonstrate a systematic approach to the application of relevant marketing tools to a variety of situations
• Demonstrate information processing skills
Product: Laundry detergent
5 pages with 4 references.
• 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:
o Introduce at least two (2) competitors and explain their current positioning in the market (what do they promise to deliver?)
o 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.
o Based on this differentiation, explain your value proposition and develop a positioning statement.
• Describe the function of marketing and demonstrate its importance to the overall success of the organization
• Illustrate the environmental forces that effect marketing
• Explain how companies can position their products for maximum competitive advantage in the marketplace
• Demonstrate investigative/research skills
• Demonstrate a systematic approach to the application of relevant marketing tools to a variety of situations
• Demonstrate information processing skills
Product: Laundry detergent
5 pages with 4 references.
