Once a marketer has a thorough understanding of customer needs and the marketing environment, s/he...

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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 paperMUST 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 visitthe 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 attachedTemplate

005_udl6jk-u0wnmie5.docx 005_v9l6jk-cbr3lhua.docx

Robert · Accepted Answer

Name
Running Head: INTRODUCTION TO MARKETING
PAGE  
1
Introduction to Marketing
Name
Institution
Course
Introduction to Marketing
Date
Abstract
Market strategy can make a great difference when trying to reach customers. This paper discusses Quaker Oatmeal market strategies through segmentation, differentiation and positioning, value positioning, as well as positioning statement.
Introduction to Marketing
Introduction
Marketing is crucial in creating awareness of products in any organization. A marketing strategy gives an organisation the chance to concentrate its resources in order to utilize opportunities fully. This has the potential to increase sales and build a competitive advantage in the market (Ferrell & Hartline, 2010).
Segmentation
Market segmentation is the method of dividing potential market into various harmonized groups of customers. Consumers in the market vary greatly and segmentation is a powerful tool in understanding their needs. Segmentation separates large market groups into smaller manageable segments to allow efficient distribution of products and services. Quaker Oatmeal products would benefit greatly from segmentation. Various segmentation bases can suit cosmetic products to reach effectively the target client as discussed below (Ferrell & Hartline, 2010, p. 167).
Bases of Market Segmentation
Psychographic Segmentation
This segmentation is based on the lifestyle of customers. In this case, individual attitude, interest, opinion, activities and value assist in dividing them into small groups (Ferrell & Hartline, 2010, p. 178).
Behavioural Segmentation
Behavioural segmentation analyses consumer behaviour towards a particular product or service. These behavioural characteristics include benefits sort, usage level, brand loyalty, readiness to purchase and secondary factors that activate purchase of a product like rewards or holidays. It also analyses user status like potential buyer, first-time or regular customer (Ferrell & Hartline, 2010, p.

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...

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