Segmentation Targeting Positioning of Sport Car

Satisfactory Essays
Using a product or service of your choice; illustrate the process of STP.

Mass marketing – Examples, ware rare?
Segmentation- (in few sentences)
> Segmentation is needed to find own segment, niche, and opportunity > Segmentation is needed to locate the best target group. > Formulated best marketing decision

Targeting- (in few sentences) 3 main approach (HF5415 B8)
 Concentrated

 Differentiated

 Undifferentiated (Mass Marketing)

Positioning- (in few sentences)
 Is established brand name in consumer mind
 Helps build the brand image
 Creates cogent reason why target market should buy a product.

Product Choice, specification and reason why? (Product is: SPORT CAR)
 Not for every one
 Need for STP
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 Points of Parity
• Category points of parity. Sport Car brand can offer lifelong guarantees luxury as much comfortable as Lexus and engine performance as much high as Ferrari.
• Competitive points of parity. If brand will be able to offer all advantages of own marketing mix in lower price or in more suitable conditions then competitors then it should be win strong and perhaps unbeatable competitive position.
 Positioning maps

High price * A

Low quality High quality *B Low price
Brand in consumer mind is locate on the A point. In consumer perception firm is characterise by high price and high quality. If firm is inspirited to move to B point need to reduce price. That can be achieved by cost reduction. It is passable by cost leadership. However that strategy can also lead to reduced in quality (at least in customer perception). If firm however is willing to improve quality level and price for product, the differentiation strategy is most approvable
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