AssignmentName: / Unit 2 Individual Project
Deliverable Length: / 4-5 pages
Details: / Once a marketer has a thorough understanding of customer needs and the marketing environment, s/he needs to develop a marketing strategy.
It is time to put your research skills to good use using your textbook andarticles from the library’s full-text databases.
Clickherefor the research requirements and guide for this assignment.
Continue working with the product/service chosen in Unit 1.
Create your own marketing strategy for it.
- Define and explain what segmentation is, and discuss different segmentation bases you could use for your product/service.
- 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.
- Develop a value proposition for your product/service 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/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.
- Based on this differentiation, explain your value proposition and develop a positioning statement.
Please submit your assignment as a Word document in APA format using the attachedTemplate.
Grading Criteria
Definition of the segmentation bases / 30
Description of each of the target markets / 30
Analysis of 2 competitors and their positioning / 20
Analysis of competitive advantages / 25
Development of value proposition and positioning statement / 20
Grade for Unit 2 Individual Project / 125
Objective: / Describe the function of marketing and demonstrate its importance to the overall success of the organization
Illustrate the environmental forces that effect marketing
Explain how companies can position their products for maximum competitive advantage in the marketplace
Demonstrate investigative/research skills
Demonstrate a systematic approach to the application of relevant marketing tools to a variety of situations
Demonstrate information processing skills
IMPORTANT:
Product to choose – Kit Kat Bars in USA
Use at least 3 articles from this link -
And, if necessary, from this link -
Suggested search terms: marketing strategy; competitive advantage; demographics AND target AND market; segmentation AND target AND market; positioning AND marketing AND strategy