Question: To summarise how we got to this point and provide context for the activity:
Organisations scan macro and micro environments to identify trends and market 'gaps' that could present an opportunity to develop new products. To aid in assessment of a potential opportunity, marketers engage in the segmentation, market targeting, differentiation and positioning process. The output being a defined target market(s) and a clear value proposition which highlights the point of differentiation underpinning ‘why' the product is superior, and perceptually ‘positions' the product as desired in the minds of the target market. The marketing mix (Product, Price, Placement and Promotion) represents the controllable variables that marketers combine to communicate the value proposition, achieve the desired perceptual positioning, and fulfil the target market needs.
Chosen New Product for Individual Case Study: ____Nintendo Switch console
A product is a bundle of utilities offered to consumers to satisfy their needs. When developing a product it must be thought of on 3 levels; the Core (basic need that the product will satisfy), Actual (includes decisions regarding branding, product attributes, packaging, labelling, quality, style and design), and the Augmented level (benefits that aren't necessary for the product to function, but provide added value for the consumer).
Using the Table below, your task is to apply this concept to the chosen New Product for your Case Study submission. Be sure to incorporate specific New Product information from your secondary sources as evidence ofhow relevant aspects at each level contribute to delivery of the value proposition, and position the product as superior in the mind of the target market:
Level Evidence of use in positioning
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Core:
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Actual elements:
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Augmented:
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