Put yourself in the position of an entrepreneur who is developing a new product to introduce...

Put yourself in the position of an entrepreneur who is developing a new product to introduce into the market.

Briefly describe the product. Then, develop the segmentation, targeting and positioning strategy for marketing the new product. Be sure to discuss (A) the overall strategy(B) Characteristics of the target market (C) Why that target market is attractive, and (D) the positioning stratedy. Provide justification for yout decision.

Expert Solution

As per the views the new product is a self-propelled, robotic lawn mower, similar to the robotic vacuum cleaner that is on the market today. On the basis of details of business process as follow-

Overall strategy- Segment the market into those consumers who own homes with lawns and those who do not. Segment those with lawns into geo-demographic markets to identify the segments most likely to see value in such a new product. Focus marketing efforts is the most likely, television advertising, Internet banner ads etc and newspaper inserts is specifically on those segments.
Characteristics of the target market- The target market includes middle- to upper-middle-class households with no children and at least 20 square feet of lawn to mow.
Why that target market is attractive- These households likely can afford the product, do not have children to mow the lawn as a chore, and possess enough lawn space to justify the purchase for the sake of ease and convenience
Positioning strategy- The product positioning should use both value and salient (self-propelled, does not need supervision, senses the boundaries of the lawn automatically and saves energy because it stops when it finishes mowing) attributes.

keosha answered 10 months ago

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