Assignment: Segmentation, Targeting, and Positioning
Overview: After completing the lessons in this module, you should be familiar with the rationale and common methods of marketing segmentation, targeting, and positioning. This assignment will give you the opportunity to practice applying these concepts to real-life types of situations, such as those you might encounter in your future career as a marketing expert. For this short paper assignment, you will research the positioning strategy of an existing brand's product. You will choose a product from an existing brand, preferably one that you are well familiar with (this can be the brand/product you have chosen for your final project), and research the product or brand to write a short paper.
Directions: Specifically, be sure to address the following critical elements in your paper:
o Identify the brand you have chosen and explain its origin.
o Describe the vision of the founder.
o Explain why the marketing team decided to produce the product the way they did, and why they did or didn't include some features. How did they know customers would like it?
o Identify the segmentation method the marketing team used.
o Explain how the brand decided which one of the segments to target for marketing and selling their product.
o Assess what the brand offers that differentiates it from competitors to position itself differently while offering the same class of products.
o Evaluate whether the positioning strategy you addressed in the previous question succeeded or failed. Elaborate on the reason for success or failure. You can use as many educated guesses for this question as you like; you should follow sound reasoning.
Format your assignment according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.