Mkt500 Marketing Management-Assignment #1 - Market Segmentation and Product Positioning for ‘Kidistation’

Assignment #1 - Market Segmentation and Product Positioning for ‘Kidistation’

Dr. Brian J. Mc Cue

MKT500 Marketing Management

January 29,2012

Market Segmentation and Product Positioning for ‘KidiStation’

Very often, companies shape their market segmentation using the results of market research and analysis. Market segmentation research is not designed to shape the market. Rather, it reveals underlying divisions in the market and characteristics of the market segments that can be used for effective and profitable marketing. In order to be successful in today’s market, an organization must have a clear plan on what their market segment is and how they will position their product so that it may be successful. This paper examines the market segmentation approach and product positioning strategies for ‘KidiStation’, a new handheld learning and gaming system for kids which would be launched by Imaginext Electronics, a leading software manufacturer specializing in electronic learning toys.

Marketing Objectives

Imaginext objective is to become the preferred leader in the children’s electronic learning toys industry, and the company mission of developing high-quality, innovative educational products that will enrich children's development, from birth to preteen, through fun and smart play. Imaginext will be launching its new product ‘KidiStation’ which will tap into the very profitable and fast growing segment of educational learning toys and gaming. Imaginext is ideally positioned to take advantage of the market opportunity, and include an excellent new product offering in form of KidiStation, a new addition as part of its product portfolio. The marketing objectives for the first three years of Imaginext are discussed below

* Execute a targeted integrated marketing campaign to reach more than 2 million customers

* End of Year 1 – Achieve a U.S. sales of more than 75,000 units

* End of Year 3 – Achieve a U.S. sales of more than 250,00 units...