Developing marketing strategy involves segmenting

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Reference no: EM132254026

Marketing: Cement Industry

The first step in developing a marketing strategy involves segmenting, targeting, and positioning (STP).

Segmenting refers to breaking the US cement market down into homogenous groups. Targeting refers to selecting the customer groups(s) that you will focus your marketing efforts on. The appropriate segmentation variable is dependent on the needs and wants of customers. These decisions are directly tied to your value proposition and require extensive marketing research on the customers. Once the segmentation variable is determined and the target markets selected, you need to develop the positioning strategy, which refers to the way you want the customer to view the product relative to the competition.

Describe the market research you would conduct to analyze and segment the US cement market. Explain how you would select your target cement markets, and explain the process of positioning Cemex's cement products relative to the competition.

Detail your STP strategy in a three-page paper (net), not including the cover page, references, graphs, or tables/figures. Support your arguments using a mix of scholarly and reliable nonscholarly sources. All sources need to be cited using APA formatting; both within the text and in the reference list. The paper should be organized using headings and subheadings to improve its readability.

Reference no: EM132254026

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