In less than 1,000 words (including tables and figures) provide an analysis of the current segmentation, targeting and positioning (STP) strategy of a product or service of your choice (other than the example of Toyota).
You should support your points with appropriate evidence and relevant academic literature. (eg. Journals, Brochure, websites, image of packaging, product images etc.)
Please structure your assignment with the following headings:
1. Product/service positioning statement
Write a one to two-sentence description of the attributes and benefits that are attractive to target consumers for an offering you are particularly familiar with (eg. Swatch watch or a Samsung Galaxy) Explain how these attributes and benefits and different from competitors.
For example: [Product A] provides [target consumers] with [one of two attributes] that distinguishes it from [competitor’s] that offer [attributes/benefits of the competing products services].
2. Target market segment description
Describe the target market segment summarizing the defining characteristics of the segment (for example demographic, psycho graphic, geographic, behavioral or other). Support points with evidence.
3. Product/service Positioning Map
Draw a product positioning map. Explain your reasons why the attributes/benefits included in your opening positioning statement are important for the target segment and reflected on your positioning map. Describe how the company providing/selling the product/service.is using its marketing mix (MM) to influence consumers’ perceptions of a product/services position relevant to competition. Use references and other sources of information (e.g. product review websites, newspaper articles or blogs) to support your claims.
Title Page is needed.
