Part 2: Target Customers and Segmentation, and Positioning
Global problem: Availability of a clean, reliable water source in areas of intense water pollution and drought not requiring trips to water sources.
Destination market: Northern California
Instructions: Using this information answer the following questions in essay/report format.
Target Customers and Segmentation
Who are your target customers?
Describe what specific benefits the target customers are seeking and explain how the determinant attributes of your products are fulfilling those benefits
Once the potential segments are derived, discuss what criteria for evaluating the segment attractiveness have been used to select the final/chosen segment(s). Clearly substantiate the criteria that you have chosen and use available statistics on market size, market growth etc. (link this with potential market growth with analysis on destination market in Part 2 later)
How will you target the chosen segment(s) and what targeting strategy will be used and why?
Positioning for your product?
Develop a perceptual map using the key determinant attributes that are important to your customers for making purchasing decisions
Discuss the perceptual map and determine whether the product is currently at the ideal point
If the product is at the ideal point, what would be your positioning strategy and why?
If the product is not at the ideal point, what would be your repositioning strategy and why?
Either way, come up with a positioning statement. The positioning statement should include the target audience, the category in which the brand competes, the point of difference or differentiation, and the convincing proof that the brand delivers what it promises.
GLOBAL PROBLEM AND MARKETING OPPORTUNITIES
You will first identify a global problem that your group would like to address. For example:
- Air pollution, water crisis, electricity, or basic sanitation
- Food safety and traceability,
- Depletion of non-renewable natural resources (e.g. fossil fuel),
- Deforestation, land degradation and soil fertility,
- Education and learning, or Internet Access,
- Marine conservation,
- Sustainable consumption and production (e.g. agribusiness and food processing),
- Vision, public health and disease control, and any other novel ideas, etc.
Second, you will choose a destination market where this particular “localized” global problem is more acute and therefore offers a market opportunity. You will need to assess and ensure that your product and/or service is affordable to the target customers in that market and that the market potential is large enough, profitable and sustainable.
Third, you will now decide on the product and company to be the focus for your project. You will need to submit your proposal by the second meeting of class. See project proposal at the end of this document or on the blackboard. The deadline for the project is indicated on the syllabus.
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