Assignment One

Running Head: MARKET SEGMENTATION and PRODUCT POSITIONING

Assignment 1 Market Segmentation and Product Positioning

Joan M. Badger

Dr. Linda Harris

Bus 500 Marketing Management

January 18, 2012

Introduction

According to Iacobucci, (2010), marketing is defined as a trade involving a firm and their consumers. The future for marketing potential can be categorized to include: goods, services, experiences, events, people, places, information, idea, industries and companies. Marketing is important because it symbolize a country’s financial system, customer satisfaction, increase profits and customer relationship management. This is accomplished by analyzing how decisions impact others by utilizing the marketing structure which is comprised of the five C’s - (customer, company, context, collaborators, and competitors), STP- (segmentation, targeting and positioning), and the four P’s - (product, price, place and promotion) (pp. 2-7). We will be evaluating this structure throughout this quarter.

Assignment one has asked us to make a strategic market analysis utilizing the second component of marketing structure segmentation, targeting and positioning. The student is required to prepare a research plan to support the product and service for your marketing plan to the United States market and to state your marketing objectives (Assignment 1 Scenario, 2010). Business Dictionary, (n.d.), defines marketing research involves identifying and measuring a specific markets characteristics and its size. Marketing objectives are a group of goals set by a business when promoting its products or services to potential consumers that should be achieved within a given time frame. Our objective correlates to an unfavorable internal characteristic that the industry does not do well, but can control. Thus, our marketing objective is increasing geographical diversification and creating products or services according to customer need. Market...