Principle of Marketing

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 and articles from the library’s full-text databases.

Click

here

for 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.

Your paper MUST include a reference list. All research should be cited in the body of the paper. In-text citations and corresponding references should be included in your paper. For more information on APA, please visit the APA Lab. The body of the paper should be 2-3 pages in length – starting with a brief one paragraph introduction and ending with a short conclusion. The entire submission will be 5-6 pages in length. 

Please submit your assignment as a Word document in APA format using the attached 

Template

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Grading Criteria

Definition of the segmentation bases

Description of each of the target markets

Analysis of 2 competitors and their positioning

Analysis of competitive advantages

Development of value proposition and positioning statement

Grade for Unit 2 Individual Project

Grading will be based on Content, Application, Research, Mechanics (APA format, spelling grammar, punctuation) and Style – (Organization, readability, using your own words). Please click here to view MKTG205 Grading Rubric. This rubric is a guide on how to earn points.

 

Please submit your assignment.

For assistance with your assignment, please use your text, Web resources, and all course materials.

Unit Materials

 

Product is chocolate