Describe this innovative idea and which segmentation

Question

You are starting up your own company that will launch a new innovative idea (could be a product/service). Answer the following questions.

1. Describe this innovative idea.

2. Which segmentation technique you would be using to segment the market? And why?

3. Which targeting strategy you would be following? And why?

4. Who would be your main competitors?

5. Which differentiation and positioning strategy you would be following? And why?

6. What would be your positioning statement?

Answer 1

Consider that you are starting up your own company which will launch a latest innovative idea (could be a product or service). Answer the given questions. Q1. Illustrate the pioneering idea. Q2. Name the segmentation method you would be employing to segment the market? And explain why? Q3. Name the targeting strategy you would be following? And illustrate why? Q4. Who would be your major competitors? Q5. Name the differentiation and positioning strategy you would be following? And illustrate why? Q6. Explain what would be your positioning declaration?