Question

Assignment Specifications Task Criteria: There are two parts to this assignment. Part 1 – Analysis of Mini Case (must demonstrate understanding of the theories or concepts in the case and their applications. Part 2 – Critical Thinking. Must demonstrate critical thinking skills to develop a valid discussion and with supporting evidence to your chosen product and target markets. Details of task requirements: Part 1: Mini Case (video) Analysis of Market Segmentation, watch “Grilled Burger” ad and answer 2 questions below. A. Explain the concept of Market Segmentation and describe at least three target markets on the “Grilled YouTube video” B. Explain the concept of “Positioning” and discuss “Grilled Burger” positioning strategy on the video.

Answer 1

A) Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics. The segments created are composed of consumers who will respond similarly to marketing strategies and who share traits such as similar interests, needs, or locations.

Market segmentation makes it easier for marketers to personalize their marketing campaigns.Market segmentation also reduces the risk of an unsuccessful or ineffective marketing campaign.

When marketers divide a market based on key characteristics and personalize their strategies based on that information, there is a much higher chance of success than if they were to create a generic campaign and try to implement it across all segments.

Target markets of grilled burger ad : Teens , young adults , children

B) Positioning refers to the place that a brand occupies in the minds of the customers and how it is distinguished from the products of the competitors and different from the concept of brand awareness .

It refers to the process of establishing the image or identity of a brand or product so that consumers perceive it in a certain way.