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.
Use Chocolate Bar and 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.