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Discuss the type of segmentation strategy

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Reference no: EM13864586

1. SELECTING A PRIMARY TARGET MARKET

a. Describe the target market(s)

b. Discuss the type of segmentation strategy you used (undifferentiated, differentiated, concentrated) and why you chose that specific strategy.

c. You should provide a brief comment of support on why you did (or did not) select a particular market segment.

2. DECIDE ON DISTRIBUTION CHANNELS

a. Discuss the availability of existing channels for your product if any exist.

b. Describe the plan for distribution of your product offering, citing why you will (or will not) be using current channels. How will you alter existing channels? What is your strategic reasoning for your selection of distribution channel(s).

3. DEFINE YOUR POSITIONING PLAN

a. Determine the current customers' perspectives of this type of product (if possible). If a start-up venture, determine what your potential customers think of the concept. Use perceptual mapping or research to guide your analysis.

b. How will you position your product? What image do you hope to project?

4. DESCRIBE YOUR PRICING PLAN

a. Building on the information in the positioning statement, what is your pricing strategy for new products? Describe your psychological pricing strategy.

b. What is the basis for your pricing plan (market-based, competition-based, cost-based, etc.)?

c. Provide your pricing specifics for each distribution channel and/or each target market segment.

Reference no: EM13864586

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