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Once a marketer has a thorough understanding of customer needs and the marketing environment, s/he needs to develop a marketing strategy.
It is time to put your research skills to good use using your textbook and articles from the library’s full-text databases.
Click here for the research requirements and guide for this assignment.
Continue working with the product/service chosen in Unit 1.
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:
- 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.
Your paper MUST include a reference list. All research should be cited in the body of the paper. In-text citations and corresponding references should be included in your paper. For more information on APA, please visit the APA Lab. The body of the paper should be 2-3 pages in length – starting with a brief one paragraph introduction and ending with a short conclusion. The entire submission will be 5-6 pages in length.
Please submit your assignment as a Word document in APA format using the attached Template.
| Grading Criteria | |
|
Definition of the segmentation bases |
20 |
|
Description of each of the target markets |
20 |
|
Analysis of 2 competitors and their positioning |
10 |
|
Analysis of competitive advantages |
20 |
|
Development of value proposition and positioning statement |
15 |
|
Grade for Unit 2 Individual Project |
85 |
|
Grading will be based on Content, Application, Research, Mechanics (APA format, spelling grammar, punctuation) and Style – (Organization, readability, using your own words). Please click here to view MKTG205 Grading Rubric. This rubric is a guide on how to earn points. |
Please submit your assignment.
For assistance with your assignment, please use your text, Web resources, and all course materials.
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