Market Analysis and Competitive Strategy

The assignment involves conducting a market analysis, creating a SWOT analysis for a specific product, and developing a Segmentation, Targeting, and Positioning (STP) strategy. The STP strategy includes identifying the category, segmenting it, targeting a specific segment, and positioning the product to appeal to that target audience. Additionally, the assignment requires recommending a price strategy based on an analysis of the current situation and competitive products.

Market Analysis
Charts will help explain size, shape & trends
This will demonstrate you understand the market forces that impact your marketing plan
Recommendations
Great research leads to great competitive analysis and consumer insight
SWOT … Your specific product’s
Strengths (3), Weaknesses (3), Opportunities (3) and Threats(3)
Segmentation, Targeting & Positioning (STP)
– What is the category? How is it segmented? (Don’t confuse segmentation with targeting.)
– ID the target segment your product competes in. Explain your choice.
– Name the target segment & develop a consumer profile describing your ideal consumer.
– What is your positioning strategy? (Product attributes, market leadership, value etc.)
– Describe 4 elements of your positioning strategy: core user, frame of ref, POD, RTB
– POD: Points of Differentiation; RTB: Reason to Believe
– Perceptual map of brand vs. key competitors (optional)
Price Strategy / Recommendation (start with current situation then recommend proposed plan)
– Pricing strategy (e.g. competitive? Parity? etc.). “Retail” price points? Other pricing elements?
– How does your product pricing compare to competitive products?
– Rationale (internal & external factors) behind your recommendation?