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Week 2 Assignment
Put yourself in the position of an entrepreneur who is developing a new propelled, robotic snowblower, similar to a robotic vacuum cleaner, to introduce into the market. Develop the segmentation, targeting, and positioning strategy for marketing the new product. Be sure to discuss:
What is your overall target strategy (concentrated, differentiated, undifferentiated or micromarketing) and why are you choosing that strategy.
What segmentation methods mentioned in STEP 2 of the segmentation, targeting and positioning process described in the text will you use (demographics (age, income, gender, marital status, children in the home, etc.), geographics, psychographics, etc.) and why will you use them?
NOTE: You only have to explain which of these you’ll use. You’ll actually describe them in the next part. For instance, if you state in part 2 that you are segmenting based on age and income, then in part 3 you’ll describe the actual age and income range for your target market.
Describe your target market – describe the target like it is someone that you know. I want a well-defined description of the target market using the segmentation methods you listed in part 2.
Why the target market(s) is/are attractive? Based on the 5 descriptive criteria mentioned in STEP 3 of the segmentation, targeting and positioning process described in the text, explain why you selected this/these target(s) versus others.
Be sure to tie back to the textbook section on evaluating attractiveness.
What is the positioning strategy – how will you position your product versus all of the competitors… and why will you do this? Check out STEP 5 of the segmentation, targeting and positioning process described in the text for more and even consider creating a perceptual map.
Remember to go into detail to explain WHY you are giving the answers to each part of this assignment!
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