â?¢Define and explain what segmentation is, and discuss different segmentation bases you could use for your product/service.
â?¢Based on your segmentation, describe each of the target markets that you would seek to reach. Explain why they will be the most profitable for your product/service.
â?¢Develop a value proposition for your product/service through differentiation and positioning. Include the following:
â?¦Introduce at least two (2) competitors and explain their current positioning in the market (what do they promise to deliver?)
â?¦Discuss possible competitive advantages your product/service can use to differentiate itself from these competitors (product, services, channels, service, people or image) and select which one(s) to use to build your positioning.
â?¦Based on this differentiation, explain your value proposition and develop a positioning statement
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Unit 2 Individual Project
Date of Submission
This paper presents the marketing strategy for a new product NutriDrink from Squash Inc. to position company as a leader in new innovative beverages with a healthy twist and to capture the growing market in this product segment. The paper presents an analysis of the target markets for the product, the competitor positioning, the competitive advantages of the product, and its value proposition and positioning statement.
Creating Marketing strategy for NutriDrink Product
Creating effective and efficient marketing strategies for products is one of the most challenging things to undertake. A marketing strategy for a product often determines the success or failure of the product to perform in the market (Wood, 2010). It often outlines the tactical plans and the strategic directions that entail marketing a product and its subsequent success. NutriDrink is a new nutritious green iced tea bottled beverage produced by Squash Inc. a company dealing in beverage production, marketing and distribution. This paper presents a marketing strategy for the new product NutriDrink.
Definition of the Segmentation Bases
Segmentation is the identifying and categorizing buyers of a product in a market into subsets of buyers that have similar behavior in their buying patterns, have similar needs and are most likely to purchase the product offering (Wood, 2010). This segmentation allows a business enterprise to better understand their customers and their needs and through the segments be able to adopt strategies that satisfy each segments needs and wants. In order for these market segments to be feasible, they need to be identifiable, have unique needs, accessible, durable and substantial in terms of customer volume (Wood, 2010).
The segmentation bases for the new beverage NutriDrink are students and consumers who live a busy life, the health conscious market segment, and consumers from who live in hot areas. The drink is also mainly targeted to individuals aged between 13-45 years of ...
The expert examines assessing marketing opportunities and strategies.