Segmentation, Targeting, and Positioning for the Strategic Business Unit, Hyperloop
In this assignment, your target market will be Japan for implementing Virgin hyperloop. Remember that your marketing strategy must directly cater to the needs and the attitudes of this specific group
Step 1
Using the following format for this assignment, identify your target market using as many bases of segmentation as possible. List your specific target market as follows:
Base of Segmentation 1 (Geographics)
<variable 1>
<variable 2>
Base of Segmentation 2 (Psychographics)
<variable 1>
<variable 2>
Base of Segmentation 3 (Behavioral)
<variable 1>
<variable 2>
Base of Segmentation 3 (Demogrphics)
<variable 1>
<variable 2>
Remember that specificity is very important. You may have as many relevant variables under each base of segmentation as you want, but you must have at least one. The more bases of segmentation and the more variables you use, the more specifically identifiable the target market becomes.
Now provide one to two paragraphs that justify this specific target market. You can use such things as the mission statement and values of the organization, information that you’ve identified from your situational analysis, and, of course, additional research. You are required to provide and cite at least one quality source using APA 7 that shows evidence supporting the value of this segment as a target market.
Step 2
Now, discuss how this product will be positioned relative to competitors in the minds of consumers. Remember to be as specific as possible, justifying this positioning using information you have developed on your competitive and environmental analyses of this) while still considering the identity of your target market
