Use the following two resources to find out about a novel invention - the Human Hamster Wheel Standing Desk. You will use this invention as the subject for your Market Segmentation, Target Markets and Product Positioning learning challenge (and you may already have used it for the Marketing mix learning challenge if you chose to do it):
Segment the market and identify appropriate target audiences and positioning for a product.
Document and share your learning experience by posting a blog entry.
Learn from your peers regarding how they would develop a segmentation plan and positioning for this product.
Value of this exercise
Now that you've learnt about the importance of market segmentation, target markets and product positioning, you will:
Apply a segmentation approach to the potential market for a real-world product,
Select key target markets for the product and identify the unique characteristics of these target markets,
Use these approaches to develop positioning statements and key messages for each target market and positioning / key messages for the overall marketing strategy, applying theory to a real world product.
Learn from your peers about their perspective - how they plan to segment the market for this product.