Segmenting, Targeting, & Positioning Strategies
This assignment is based on the concepts addressed in chapter 8 and focuses on segmentation. Choose which target market strategy you will use and say why (provide your rationale). Also discuss all applicable bases/factors that can be used to segment the market for example demographic, psychographic, etc. Please substantiate your pointers. Also develop a profile of your target market. In essence do a description of your target market. You can have a primary target market and also a secondary target market (if you will focus more on one particular group but will also sell to other groups). Also conduct research in order to estimate the size of your target market. Part B: PositioningPlease construct a perceptual map. First, select 2 factors/variables one for the X axis and one for the y axis that you would like to use to evaluate your company/brand. Then, select 4 competitors with whom to compare your company using the chosen factors/variables. Based on your perception, please position all companies (your 4 competitors and your company) on the perceptual map. Please provide a summary of your perceptual map.