Using Honda Motors Company
Within your Market Segmentation and Product Strategy report, include the following:
Analyze the target market segments in relation to Honda CR-V.
Identify the market segments (at least 2) you believe would be effective to target for Honda CR-V.
Explain how the product serves the wants and needs of each target segment.
Evaluate the growth potential of the product within each target segment.
Evaluate the effectiveness of the company's current marketing strategy being used within each target segment.
Provide examples of how the strategy is and is not effective.
Based on your analysis, recommend an alternative strategy that would better position the product for each target segment.
Explain the types of challenges the company is likely to face in trying to reposition the product and change customers' perceptions of the product.
Explain the importance of branding/positioning in an effective marketing strategy.
Support your recommendations with marketing theories, models, or principles.