Market Analysis.
Added on -2019-09-13
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Market AnalysisCharts will help explain size, shape & trendsThis will demonstrate you understand the market forces that impact your marketing plan RecommendationsGreat research leads to great competitive analysis and consumer insight SWOT... Your specific product’sStrengths (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 aconsumer 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 situationthen 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?
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