Lovelock07 Tif

6. What are the different ways to segment a consumer market? Does it make sense to use more than one segmentation variable? Why or why not?

This model is important for anyone making marketing decisions. It ensures the marketers consider the whole buying process rather than just the purchase decision.

* Market segment: Group of consumers who respond in a similar way to a given set of marketing efforts.

* Determinant attributes- product or service features that are important to the buyer and where competing brands may differ.

Imagine you are part of a strategic planning group at a large corporation that is considering developing a new proposed product. The marketing director has asked your team to do a competitive market analysis to determine the product’s potential success. The analysis will focus on your primary competitor in the product’s market.

6. Competitor analyses – discuss key competitors and their key strengths, weaknesses and are they major threats to the firm - briefly explain.

| (TCO 3) The process of segmenting a market and selecting specific segments as targets is the link between the various buyer's needs and

This is where all of your conceptual discussion comes true in the marketplace. What does your product look like? Where are you selling it? How are you communicating with your consumers? What price signals are you sending? How do you service the customer through the decision process and post purchase?

Define the bases of segmentation used to segment consumer and/or organizational markets (the rows in your grid)

In conclusion, positioning is a strategic way of selling products geared towards the desires of wanting, needing, owning and obtaining something great. Positioning is how a company presents and differentiates itself, and its product, from competition in order to gain and keep prospective buyers. So it is safe to say that positioning is a strategic way in winning the hearts and minds of consumers for their confidence, and their

It is critical for an organization to identify both current and potential competitors within the industry. A full competitive analysis will allow the companies understand its competitors internally and externally. Our company TCI did a thorough competitive analysis in order to exploit our competitors and understand their strategy to gain a competitive advantage. This allowed our company to strategically maneuver throughout each quarter by predicting our competitor’s next move allowing us to establish a dominant position within the market. The concept of learning and understanding my competitors in the work place that I may pursue will be essential. I have to understand my competitors and potential competitors to strategically create a competitive

In essence, the positioning statement represents the means in which the company promotes itself within the market and the industry. The positioning statement is created to help the company sell more products, by better appealing to the customer segments and promoting the products and services. In other words, it is a marketing tool.

specific elements of your Positioning Strategy by writing down how each applies to your business in

The segment that is chosen should be clearly demarcated to nullify doubts on which section of the market, the firm’s

Identify and describe the company’s competitors, as well as analyzing relevant information such as market share or number of customers in relation to your chosen business. Discuss and report on the opportunities and threats that this creates?