iPhone Product Analysis

Quiz2

 I-PHONE PRODUCTS

1. Reflect upon your favorite product and/or service. Then collect marketing examples from each of these companies (SPRINT, AT&T, VERIZON, T-MOBILE).

2. Select your interest of the product or service. Who are the market leaders for their chosen product or service? What niche have they identified for their product/service? Is their product or service going to be a leader, follower, or challenger to well-established products or brands?

3.Imagine your project company as a marketing consultant has hired you. How do you describe their market? Please use segmentation variables, which are classified as demographic, psychographic, or behavioral in nature, as shown in Figure 7.2. (Details In "STP" file, attached)

4.  Please provide a detailed description of the typical customer in terms of key demographic, life style, geographic an product use behaviors (Details In "STP" file).

5.  Choose one targeting strategy from 4 types (Details In "STP" file).

6.  Please write your group project company’s positioning statement.  In this case, write VERIZON’s positioning statement only.

1.  Segmentation

In addition to needs, marketer’s use one or more segmentation variables to segment consumer markets.  Segmentation variables can be defined as dimensions that divide the total market into fairly homogeneous groups, each with different needs and preferences. Imagine you have been hired by your project company as a marketing consultant. How do you describe their market? Please use segmentation variables which are classified as demographic, psychographic, or behavioral in nature, as shown in Figure 7.2.

2.  Develop Segement Profiles

After segments are identified, marketers should develop profiles or descriptions of the typical customers within a segment. Please provide a detailed description of the typical customer in terms of key demographic, ifestyle, geographic an product use bevaiors.

3.  Targeting Strategy

Targeting is to choose a target strategy to follow. A fundamental decision must be made as to whether the firm will pursue a single large segment or focus on meeting the needs of multiple, smaller markets.  Choose one targeting strategy from 4 types below.

1. In an undifferentiated targeting strategy, the marketer assumes that people have similar needs, and an attempt is made to appeal to a broad spectrum of people.  An example of a firm that follows a somewhat undifferentiated targeting strategy is Wal-Mart. Efficiency occurs because of enhanced economies of scale.  But in today’s day and age, following a purely undifferentiated strategy is risky; markets are fragmenting and for most products, needs are not similar enough to justify this technique.


2. Instead, the more common practice is to follow a differentiated targeting strategy in which the firm develops one or more products (and marketing strategies) for each of several customer groups.  A differentiated strategy might also involve marketing a single product differently to different segments, by changing marketing communications to appeal to each targeted group.


3. Firms that focus their efforts on a single segment use to follow a concentrated targeting strategy. One or more products may be promoted to the segment.


4. Finally, a firm may choose to follow a custom marketing strategy which is explained in more detail on the following slide. : Tailoring specific products to individual customers.

4.   Positioning statement

Positioning statements typically include the segment(s) to which the product is targeted, the most important claim (differentiator) to be attributed to the product for the targeted. segment(s), and the most important piece of evidence that supports the claim made about the product. Please write your group project company’s positioning statement.