Segmentation & Opportunity Analysis DB

In order to develop a strong marketing plan to

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Unformatted text preview: PM Published Hi Cynthia, The point that you bring up regarding identifying your competition in a given area as a result of segmentation is very valid. By narrowing a focus area an organization can create a more specific and focused action plan. "Identifying who your competitors are and understanding the approach they take in the market can help you to develop and sustain a competitive advantage" (Unknown. 2013). Creating a competitive advantage can help a business to sustain success. Great points. Nadir Reference: Unknown. (2013). Identifying Competitors. In Retrieved March 7, 2013, from (Post is Unread) Thread: Post: 24 of 30 Segmentation & Opportunity Analysis RE: Segmentation & Opportunity Analysis Posted Date: Status: March 6, 2013 11:00 PM Published 5/22/13 10:13 AM Collection Author: Nadir Hasan Hi Kristen, Cheerios is a great example of marketing segmentation. Although it could be sold to anyone those with high cholesterol would be a great segment to market the cereal to. Cheerios is one of those rare cereals that both children and adults enjoy. That is to segments cheerios could define before they decide to develop their marketing plan. Opportunity analysis is one of the vital parts of creating a business plan. If you can define the markets demand then you could fill that demand. Very informative post. Nadir (Post is Read) Thread: Post: Author: Segmentation & Opportunity Analysis RE: Segmentation & Opportunity Analysis Nadir Hasan Posted Date: Status: March 6, 2013 12:45 AM Published In order to develop a marketing plan you first have to discover who you are marketing to. Market segmentation is defined as “the process of dividing an entire market up into diferent customer segments” (Rick Suttle. 2013). Market segmentation consists of a group of consumers who have similar wants and needs. It is very important to clearly define your target market. If you can define your market you have a better chance at meeting the needs of that market. For example, compan...
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This note was uploaded on 02/08/2014 for the course BUS 504 taught by Professor Robinchase during the Fall '12 term at Post.

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