- Field: Business & Finance - Marketing
There are 3 parts to this forum: Segmenting the Market, Target Marketing, Products and Prices. •Part 1 - In 2 well-written paragraphs, distinguish between these terms: market segmentation and target marketing. Define each concept and provide several insightful examples of each. •Part 2 - In 2 well-written paragraphs, explain the following statement which refers to the concept called product positioning : "Sometimes a firm can achieve a key differential advantage by simply emphasizing how its offering satisfies existing consumer demand/desires and needs better than its competitors." ◦Write 1 comprehensive paragraph, in your own words, defining the concept of product positioning (advantages). ◦Write 1 comprehensive paragraph, citing an example of a company, a product, and a positioning strategy that is NOT found in the textbook. •Part 3 - In 2 well-written paragraphs, explain this comment which is referring to the concept called managing the product life cycle: "Sometimes demand patterns must be modified for consumers to perceive a firm's product differentiation as worthwhile." There are 3 different major choices in what can be "modified" with 7 sub-choices. ◦Write 1 comprehensive paragraph for each of the 2 choices you made that defines the specific concept. ◦Provide at least 1 real-world example for each concept. This assignment requires at least 10 paragraphs to sufficiently answer the questions.