Reference no: EM131443055

1. Segment the market for the product, identifying at least five market segments for the product. Segments must be identifiable, sizable, reachable, and homogeneous. That does NOT mean to list the markets by these five characteristics. These five characteristics should pertain to every single segment. In the example of Diet Cola, segments may be women of all ages, single women, people with certain dietary restrictions, people who want a low calorie cola drink, etc. Each of those segments is identifiable, sizable, reachable, and homogeneous.

2. Of the five segments identified in the previous question, which market segment is the marketer primarily targeting? This question is not asking about the strategy - it's asking for you to select ONE of the segments you identified in the previous question and then profile and describe that segment. In the example of the market segment of single women for Diet Coke, the market segment ranges in age from about 25 to age 60. Research shows that younger people are drinking fewer carbonated beverages so that age range may be older. They probably have income of $20K to $75K a year (to be able to easily afford the product), are aware of caloric intake, and live in urban areas (where it's more affordable for the manufacturer to develop distribution channels).

3. How is the marketer positioning the product against the competition in the minds of target consumers? Include examples of how the marketer is positioning the product. Note that positioning happens in the minds of customers and is influenced by the marketer's messaging. How would the customer describe the selected product compared to competitors' product offerings? In the example of Diet Coke, how does Coca Cola help position the product? How would customers describe the product compared to competitor Diet Pepsi? Or the low-calorie cola drinks targeted to men (Coke Zero and Pepsi Maxx)?