Marketing Strategy Targeting and Segmentation

Marketing Strategy Targeting and Segmentation
Description
Marketing Strategy–Part 2
Unit 6 Assignment Parts 1 and 2 are due now in this unit.
Critical elements of successful marketing occur through identifying market segments, targeting the right customers, and developing a value proposition and positioning. According to Kotler et al. (2022), companies should focus on consumers they have the greatest chance of satisfying.
Your complete Unit 6 Assignment should include a 4- to 5-page informative essay (with additional title and reference pages) consisting of Parts 1 and 2 using correct grammar, spelling and current APA format and citation style. First, read the following scenario.
Scenario
This is a graphic depiction of a cone shape. Pizza in a Cone*
In 2020, Toni of Toni’s Pizza* launched a new concept of eating pizza — pizza in a cone! Instead of eating pizza in its traditional form, the pizza dough is eaten like an ice cream cone. The cones are made through a patented device created by Toni. This technique allows consumers to eat pizza on the go with one hand. Therefore, the pizza does not drip with grease or sauce. The cones are personalized with whatever fixings the consumer desires. Market research indicated this product would be a huge success. The organization even started franchising the concept in 2021. Nevertheless, the company has had lackluster sales. Toni believes they need to do a better job targeting the right customers, segmenting the market, and repositioning the product.
*Disclaimer: The organization and any characters and brands depicted in this exercise are fictional. Any resemblance to real organizations, individuals, or brands is purely coincidental. This exercise may include actual companies and brand names solely for instructional purposes; this exercise is not associated with any such existing company or brand name. All trademarks remain the property of their respective owners.
Part 1–
Checklist:
Describe the concept of targeting.
Create a customer persona for the pizza cone using target segments.
Research segments using the process of demographic, geographic, psychographic, and behavioral segmentation.
Propose three sectors with the greatest growth prospects, most profitable customers, and most promising opportunities for the cone pizza using scholarly research.
Part 2–
Checklist:
Create a value proposition using the pizza cone’s functional, psychological, and monetary value.
Prepare a customer value analysis to reveal the company’s strengths and weaknesses relative to various competitors.
Describe the concept of positioning.
Address three points of difference (POD).
Address three points of parity (POP).
Develop a strategy for creating a sustainable competitive advantage. Provide support for your strategy.
Prepare a positioning statement for the pizza cone.

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