Business and Management
Submitted By lizy27
The purpose of this paper is to create a marketing strategy using women as target market. Two competitors and their positioning will be analyzed to develop an efficient marketing strategy. Explanations for segmentation base, target markets, positioning and competitive advantages will be provided for better perception.
Marketing Strategy for Shield Self Defense System
To be able to develop a good marketing strategy it is imperative to define the target market, analyze competitor and their positioning, understand competitive advantages, and to develop a value proposition and statement.
Definition of the Segmentation Bases
Geographic segmentation which is about were possible consumers reside or place of employment (area, city size). Demographic segmentation is market segmentation accomplished by taking in to account several demographic factors such as; gender, race, age, income, birth era, and occupation. Psychographic segmentation is in relation to potential consumer’s personality, life style, values, and needs. Behavioral segmentation is about apparent attitudes or actions by prospective consumers such as; where they purchase from, how often they purchase, and the reason of the purchase (Kerin, 2011).
Description of Each of the Target Markets Target market is group of possible consumers that share common characteristic and needs, thus, business’s uses those findings to create strategies for marketing purpose. One of the target markets that would be profitable for the self-defense training is women of all ages, especially the ones that work away from their home. Women are the main victims of sexual abuse, domestic and violence; therefore, they could be potential consumers of the self-defense training. Another profitable target market could be people that live in areas with a high crime rate.
Analysis of Two Competitors…...