Example: Your own energy drink brand
The requirements for your paper are: Segmentation
o Hint: when choosing your segmentation types, be sure you consider the product’s key features and benefits –who is most likely to use or benefit from it. Consider if this is a “need” or a “want” product as that can also support its own segment.
o First, pick at least 2 segmented groups from these choices from our reading: demographic, psychographic, generations, geographic, geodemographic, benefits, and usage.
o Next, provide a brief rationale for each group you chose and describe the key traits of the chosen segmentation – consider what features or benefits are likely to appeal to them – clearly justify your choices. ?
Approach to Positioning
o First, from the available choices outlined in our reading, choose the approach positioning that most effectively correlates to your product or service.
o Then justify your choice by explaining your rationale behind the approach you chose.
o Next, discuss the marketing objective(s) you are trying to achieve with your product (increase profits, reduce inventory, gain market share, develop brand awareness, increase category demand, encourage repeat purchases).
o Then explain the communication objective(s) your positioning approach will have that supports the marketing objective. ?
Budget
o When determining what communications budget to establish, you must consider your objective(s) discussed in the “Approach to Positioning” portion of the assignment. Using the available budget types in the course readings, choose one based on your marketing objective(s), communication objective(s) and positioning approach.
o Be sure to explain your choice of budget and illustrate it supports the objectives and approach.
This section will be 2-3 pages double-spaced (excluding cover and reference pages), APA formatted pages, Times New Roman font, 12 point.