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Produce a graphic representation of your segmentation strategy for your new, fictitious product. Include any niche or subgroups in your graphic depiction that you think might be effective. Also,...

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  • Produce a graphic representation of your segmentation strategy for your new, fictitious product. Include any niche or subgroups in your graphic depiction that you think might be effective. Also, include in your graphic representation a brief summation of the needs of each segment.
  • In addition to this graphic depiction, write a 1,000-word essay that outlines strategies for creating or increasing brand equity for your branded product. Include:
    • One strategy for targeting marketing efforts to each segment
    • One strategy for positioning your product for each segment
  • For each of the strategies, explain why they would be effective. Include specific examples and appropriate citations/support from the literature for your findings.
  • Evaluate the effectiveness of the current marketing mix for the brand you selected for your Project. Does the marketing mix meet goals of forming consumer brand relationships? Include in your evaluation whether the marketing mix includes the right mix of P’s.
Answered Same DayNov 16, 2019

Solution

David answered on Nov 30 2019
109 Votes
1
2
Part 1 - Marketing Plan
(
Market
Segmentation
Demographic
*
Male and
f
emale
*
A
ge
more than 20 yrs.
*
I
ncome
of the
people
Geographic
*Domestic and

global market
*
More than 200 countries
Behavioral
*

C
ustomer's needs
*S
ubsequent reaction
of the
needs
Psychgraphic
*

I
nterests
of the people
*V
alue, and activities of the people
)Graphical Representation of Segmentation Strategy
Segmentation Strategy
The segmentation strategy is generally decided to target the market easily and effectively in order to identify the right customers for marketing and selling the products or services. Organizations create effective strategies based on the market segmentation in order to motivate customers to be part of the company (Capraro, Broniarczyk & Srivastava, 2003). However, identifying a market segment is not enough for an organization to formulate because of the challenges, like competition, different cultural environment, and other internal problem. These conditions must also be identified by the organizations to take the benefits of the market segment at the global level.
Further, a new product/service that can fall within the DHL and DHL
and can be considered as ‘Sales Services’ in which it can provide B2C and B2B, as well as C2C sales services via its website. DHL, an international provider of solutions for an almost infinite number of logistics needs of the customers of different industries and residential people, with the mission of simplifying customers’ lives and making a positive contribution at the global level (Fifield, 2012). With the services of the parcel and eCommerce, freight transportation, supply chain solutions, and express services of the DHL, sales services can also be a useful service for this organization in the market in order to increase the base of the customers and profits, as well as taking competitive advantage compared to the competitors.
The sales services of this company should be related to connecting buyers and suppliers in order to provide a platform for the individuals, SMEs, and the large enterprises. In this service, DHL can connect sellers and buyers anytime and anywhere for a range of products or services. It can provide one-stop-shop for all requirement of the people either they are customer or business professionals (Hitt, Ireland & Hoskisson, 2012). Therefore, in the segmentation strategy, the market is segmented into the demographics, geography, psychographic, and behavioral for the sales services of the DHL. Now, this segmentation strategy for the sales services of the DHL can be described as below:
Demographic: In the demographic strategy, DHL can focus towards different groups of customers, such as age, income, gender, and life cycle stage (Lamb, 2009). These are mass market that can be targeted by the DHL for the sales services at the global level.
Geography: In geographic segmentation, the sales services of the DHL can be considered about the international market to fulfill the needs of the individuals, business professionals, and large enterprises involved in different types of activities, such manufacturing, exporting, importing, etc.
Psychographic: In psychographic segmentation, DHL can focus towards interests and value, and activities of the people. In this segment, most of the people need to conduct their business success in new markets (Lamb, 2009). Therefore, they can be considered in this segment for a successful initiative.
Behavioral: In the behavioral segment, the sales service of the DHL can target on the customer's needs and subsequent reaction to those needs or towards the purchase or sell of intended services.
Strategy for Targeting Marketing Efforts
    In order to increase
and equity for the sales services of the DHL, a specific strategy for the targeting marketing should be considered effectively and efficiently to perceive the company’s services by the people relative to the competition. In this strategy, DHL can conduct advertisements for the demographic segment to aware people about the sales services of the DHL. Further, in the geographic segmentation, DHL can adopt distribution and communication channels at the global level to satisfy needs of the individuals and business professionals (Rosenbaum & Wong, 2010). The strategy that can be considered by the DHL in psychographic segmentation is the most profitable opportunity to the people to connect with the company and fulfill all needs and expectations. At last, in the behavioral target market, this company can consider market research to know their requirements and expectations.
Strategy for Positioning the Sales Service
    The positioning of the sales service of DHL can help to take competitive advantage in the global market. For the positioning of the DHL sales service in the demographic segment, it can use competitive price strategy for the sales and services to the target people to achieve more benefits than the competitors. Further, in the geographic segment, the DHL can position the sales and services as a
and name in the market that can attract more people to interact with the company (Small Biz Connect, 2014). Moreover, in the psychographic segmentation, the sales service can be positioned as creating respective environment in the market to fulfill all activities of the people and their interests. At last, in the behavioral segment, the DHL sales service can be positioned with the help of making services easy and reliable.
Effectiveness of the Strategies
    Target Marketing Strategies: The advertisements in the demographic segment would be effective because it can increase awareness in the market. Advertisement can easily establish the sales and service market in a short time period. Further, the distribution and communication strategy of geographic segmentation can provide assistance and solution of the customers without any big problem (Smith, 2011). Moreover, the most profitable opportunity is also effective for the company because it can help to save time and money of the individuals and professionals. The market research is effective in because of getting actual data and environment that how target customers.
    Positioning Strategies: The competitive price strategy can be effective because it can attract more people to join for the sales services and reduce financial lose. The
and name would be also effective to position sales and services due to already presence of the company in courier services and strong trust of the people and companies for the services. Moreover, the respective strategy can increase confidence and value of the customers and companies that can make them potential users of the sales and services (Smith, 2011). The easy and reliability of sales and services can also be effective because it can help to make a strong relationship between the...
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