Q Week 3. Mkt. Strategy: Segmentation, Targeting & Positioning Chapter 7 Chapter Preview: This chapter looks further into key customer value-driven marketing strategy decisions-dividing up markets into meaningful customer groups (segmentation), choosing which customer groups to serve (targeting), creating market offerings that best serve targeted customers (differentiation), and positioning the offerings in the minds of consumers (positioning). Takeaways: Define the major steps in designing a customer value-driven marketing strategy: market segmentation, targeting, differentiation and positioning. Discuss how companies differentiate and position their products for maximum competitive advantage. Read in the Textbook: Chapter 7. Customer Value-Driven Marketing Strategy. Assignment: One (1) page. Imagine that you work in an upscale international hotel that caters to guests from around the world. Discuss what you would serve at breakfast, lunch or dinner buffet. Research what consumers eat in at least one country from every continent. The goal is to have a wide variety to satisfy all of the guest's tastes based on their cultures. What food would you include in your buffet? Assignment: One (1) page. Comment on geographic segmentation. How are restaurants creating and localizing their menu items and advertising efforts to fit and position the needs of individuals in your hometown? Assignments Due: Tuesday, 3/14@ 11:59pm. No assignments will be accepted after due date. Class Discussion Board for Marketing Strategy. Please discuss the following exercise on this discussion board. Responses are due on Tuesday, 3/14@ 11:59pm. ''Developing a Marketing Mix'' This activity will be focused on the strategy and marketing mix for a proposed new chain of Italian and pizza restaurants. The strategy being considered by the firm's investors is listed below. 1st. Offer a unique range of high-quality pizzas. 2nd. Use unusual ingredients (with choices such as oysters, kangaroo, avocado). 3rd. Create innovative and unique pizza tastes. 4th. Set new standards for pizza restaurants. Discussion Questions 1. Discuss an appropriate marketing mix for the selected strategy. You should use the 4Ps, but ensure that your marketing mix will effectively deliver the proposed strategy. 2. Do you think that this new pizza chain, as you have constructed it, will be successful? Why?