Task: Create your own marketing strategy for a product/service.
Problem:
1) Define and explain what segmentation is and discuss different segmentation bases you could use for your chocolate bar.
2) Based on your segmentation, describe each of the target markets that you would seek to reach. Explain why they will be most profitable for your product chocolate bar.
3) Develop a value proposition for your product chocolate bar through differentiation and positioning. Include the following:
- Introduce at least two (2) competitors and explain their current positioning in the market. (What do they promise to deliver?)
- Discuss possible competitive advantages your product chocolate bar can use to differentiate itself from these competitors (products, services, channels, service, people or image) and select which one(s) to use to build your positioning
- Based on this differentiation, explain your value proposition and develop a positioning statement