{"id":48295,"date":"2022-10-27T09:37:54","date_gmt":"2022-10-27T09:37:54","guid":{"rendered":"https:\/\/www.essaybishops.co.uk\/fall2022-mkt301-35w-team-assignment\/"},"modified":"2022-10-27T09:37:54","modified_gmt":"2022-10-27T09:37:54","slug":"fall2022-mkt301-35w-team-assignment","status":"publish","type":"post","link":"https:\/\/www.essaybishops.com\/essays\/fall2022-mkt301-35w-team-assignment\/","title":{"rendered":"FALL2022- MKT301- 35W- TEAM- ASSIGNMENT"},"content":{"rendered":"<p>1<br \/>\nFALL2022- MKT301- 35W- TEAM- ASSIGNMENT 1<br \/>\nSEGMENTATION\/ TARGETING\/ POSITIONING (STP):<br \/>\nTHEME AND AMUSEMENT PARKS<br \/>\nThis first team- assignment is worth 10 points.<br \/>\nIts grading will be based on three criteria:<br \/>\n1 Content refers to the treatment of the topic logically and analytically. This is the substance, the<br \/>\n&#8220;what&#8221; of the paper; what you had to say about the topic, what you presented in defense of your<br \/>\nposition, and what your analysis revealed about thought processes and grasp of the material you<br \/>\ngrappled with. Content also refers to the use of the concepts taught during past classes.<br \/>\n2 Organization is the way your paper is presented, including both the overall organization and the<br \/>\narrangement of sub-parts. These include relevant title and subheadings; introductory material,<br \/>\nwhere needed; connective and transitional links; and what used to be called \u201crhetoric\u201d: the skillful<br \/>\narrangement of the pieces for maximum persuasive impact on the reader.<br \/>\n3 Mechanics refers to the use of Spelling and Grammar check, the use of Standard English, the<br \/>\nbasics of sentence structure and punctuation, and effective and sensitive word choice usage.<br \/>\nThis assignment must use the following format when submitted:<br \/>\n\u2022 FONT size: 12 (Times New Romans ONLY for both headings and body of assignment)<br \/>\n\u2022 FONT color: only black<br \/>\n\u2022 1.5 spaced content<br \/>\n\u2022 Very important: A MINIMUM OF 4 pages is requested (6 pages maximum)<br \/>\n2<br \/>\nINTRODUCTION<br \/>\nThis team- assignment allows you to demonstrate your knowledge of the Segmentation, Targeting,<br \/>\nand Positioning (STP) strategies, which are essential for successful marketing. As a result, the<br \/>\nassignment addresses the critical thinking skills of concept application and strategy formulation,<br \/>\nthe marketing functional area skills of STP, written communication skills, as well as your own<br \/>\npersonal idea generation and creativity skills.<br \/>\nBy working in a team, you will use the information provided and additional information located<br \/>\non your own to create a unique theme park design and formulate a complete STP strategy for it.<br \/>\nThe market can be domestic or global and the theme park is a physical location.<br \/>\nCase Objective &#8212; Develop a theme park idea (3 different attractions) with a precise target market<br \/>\nthat will be successful in the real world.<br \/>\nCase Background &#8212; A variety of theme park information links are listed below. In addition, your<br \/>\nstrategic marketing goals are supported by the reference article titled, \u201cSuccess Factors of Theme<br \/>\nParks: An Exploratory Study\u201d by Birgit Pikkemaat, and Markus Schuckert, from a 2007 issue of<br \/>\nthe Tourism journal.<br \/>\n3<br \/>\nList of References:<br \/>\n***http:\/\/en.wikipedia.org\/wiki\/Amusement_park<br \/>\n***https:\/\/en.wikipedia.org\/wiki\/List_of_amusement_parks<br \/>\n***https:\/\/www.alltopeverything.com\/most-popular-amusement-parks-in-the-world\/<br \/>\nhttp:\/\/www.themeparkreview.com\/<br \/>\nhttp:\/\/www.themeparks-us.com\/<br \/>\nhttp:\/\/www.screamscape.com\/<br \/>\nhttps:\/\/www.travelandleisure.com\/attractions\/amusement-parks\/best-amusement-parks-in-the world<br \/>\nhttps:\/\/vacationidea.com\/ideas\/best-amusement-parks-in-usa.html<br \/>\nhttps:\/\/familyvacationist.com\/amusement-parks-for-kids\/<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"m9uzcpjiOL\"><p><a href=\"www.theparkdb.com\/blog\/an-introduction-to-indoor-entertainment\/\">An Introduction to Indoor Entertainment<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;An Introduction to Indoor Entertainment&#8221; &#8212; The Park DB\" src=\"https:\/\/www.theparkdb.com\/blog\/an-introduction-to-indoor-entertainment\/embed\/#?secret=vgtpc6mkA7#?secret=m9uzcpjiOL\" data-secret=\"m9uzcpjiOL\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><br \/>\n***https:\/\/www.businessperspectives.org\/images\/pdf\/applications\/publishing\/templates\/article\/as<br \/>\nsets\/3633\/im_en_2010_4_Gothelf.pdf<br \/>\nhttps:\/\/slideplayer.com\/slide\/7113227\/<br \/>\n***https:\/\/www.academia.edu\/2202581\/A_perceptual_mapping_approach_to_theme_park_visito<br \/>\nr_segmentation<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"pNKiNPdTNF\"><p><a href=\"daxueconsulting.com\/china-worlds-largest-amusement-park-industry\/\">New amusement parks in China open as tourism turns to domestic destinations<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;New amusement parks in China open as tourism turns to domestic destinations&#8221; &#8212; Daxue Consulting - Market Research and Consulting China\" src=\"https:\/\/daxueconsulting.com\/china-worlds-largest-amusement-park-industry\/embed\/#?secret=FdGKLecsdh#?secret=pNKiNPdTNF\" data-secret=\"pNKiNPdTNF\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><br \/>\nSzu-Ju Lin, Chao-Hua Li, and Ching-Sing You (2012). Consumer behavior and perception of<br \/>\nmarketing strategy for amusement parks: A case study of Taiwan. African Journal of Business<br \/>\nManagement, Vol. 6(14), pp. 4795-4803.<br \/>\nhttps:\/\/citeseerx.ist.psu.edu\/viewdoc\/download?doi=10.1.1.981.5761&#038;rep=rep1&#038;type=pdf<br \/>\nMilman, A., Tasci, A.D.A., and Wei, W. (2020). Crowded and popular: The two sides of the coin<br \/>\naffecting theme-park experience, satisfaction, and loyalty. Journal of Destination Marketing &amp;<br \/>\nManagement.<br \/>\nhttps:\/\/www.ncbi.nlm.nih.gov\/pmc\/articles\/PMC7485498\/<br \/>\nTheme Parks Get Back on Track.<br \/>\nhttps:\/\/www.oracle.com\/industries\/food-beverage\/sports-entertainment\/theme-park-trends\/<br \/>\nAs Consumers Feel Comfortable again, Amusement Parks Could be in Line for a Busy<br \/>\nSummer<br \/>\nhttps:\/\/morningconsult.com\/2021\/06\/30\/amusement-parks-pent-up-demand\/<br \/>\nTheme Park Marketing &amp; Industry Trends Shaping 2023.<br \/>\nhttps:\/\/linchpinseo.com\/trends-in-the-theme-park-industry\/<br \/>\n4<br \/>\nThe science behind the Disney magic!<br \/>\nhttps:\/\/mpk732t12016clusterb.wordpress.com\/tag\/perceptual-mapping\/<br \/>\nA Guide to Theme Park Target Market<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"wp2LZIViYF\"><p><a href=\"mapchise.com\/blog\/a-guide-to-theme-park-target-market\/\">A Guide To Theme Park Target Market<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;A Guide To Theme Park Target Market&#8221; &#8212; Mapchise\" src=\"https:\/\/mapchise.com\/blog\/a-guide-to-theme-park-target-market\/embed\/#?secret=C3eZe5dpYC#?secret=wp2LZIViYF\" data-secret=\"wp2LZIViYF\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><br \/>\n5<br \/>\nINSTRUCTIONS<br \/>\nHere are the specific steps to complete the STP of a Theme Park:<br \/>\nFIRST, develop a unique THEME PARK IDEA and name it by combining\/modifying existing<br \/>\ntheme park attractions and creating entirely new features. Use the table below and background<br \/>\nlinks above to guide your ideas.<br \/>\nDescribe THEME PARK IDEA in detail with 1 page of content.<br \/>\nTypes of Theme Park Fun YOUR<br \/>\nTheme Park<br \/>\nChoices<br \/>\nTarget Market Customers &amp;<br \/>\nPositioning<br \/>\nRIDES &amp; AMUSEMENT<br \/>\n(Disney, 6 Flags, Kings Island, Busch<br \/>\nGardens)<br \/>\nADVENTURE &amp; ROLE-PLAY<br \/>\n(Universal, H-Potter, Disney)<br \/>\nMUSIC &amp; ENTERTAINMENT<br \/>\n(Freestyle, Hard Rock)<br \/>\nSPORTS &amp; ATHLETICS<br \/>\n(ESPN\/Disney, Sports Camps)<br \/>\nPARTICIPATION &amp;<br \/>\nINTERACTIVITY<br \/>\n(LegoLand, Disney, Museums)<br \/>\nEDUCATION<br \/>\n(Colonial Williamsburg, SeaWorld,<br \/>\nAquariums, Zoos, Planetariums,<br \/>\nMuseums, Disney)<br \/>\nOTHER<br \/>\n(Global\/Foreign Themes,<br \/>\nNew\/Original Ideas, etc.)<br \/>\n6<br \/>\nSECOND, Segmentation of the market.<br \/>\nThe first step of the STP marketing model is the segmentation stage. Segmentation refers to the<br \/>\nprocess of dividing your audience into smaller groups based on certain characteristics. This process<br \/>\nallows you to group your individual audience members into similar groups so you can better<br \/>\ncommunicate your products, features, and benefits that may be most relevant to them.<br \/>\nYour goal is creating various customer segments based on specific criteria and traits that you<br \/>\nchoose. The four main types of segmentation include:<br \/>\n1. Geographic segmentation: Dividing your audience based on country, region, state, province,<br \/>\ncity, climate, terrain, urban\/suburban\/rural, city size\/ population density<br \/>\nGeographic segmentation would be most helpful for:<br \/>\na) small\/local businesses choosing to engage in local marketing only<br \/>\nb) major retailers selecting new location for market expansion\/development<br \/>\nc) international brands\/firms selecting new countries\/regions for their market expansion<br \/>\nd) firms operating in diverse countries with multiple distinctive regions<br \/>\ne) highly logistically dependent firms (manufacturers, wholesalers, transport)<br \/>\n2. Demographic segmentation: Dividing your audience based on age, gender, income,<br \/>\neducation level, occupation, family size, family life stage\/cycle, religion, ethnicity, etc. It<br \/>\nanswers the question of who your buyer is.<br \/>\nIt is a very common segmentation approach because it is simple, easy to understand, low cost, and can be constructed quickly and precisely from government sources, such as Census<br \/>\ndata. Demographics may provide a good starting point to segmentation, if we can combine<br \/>\nseveral of the segmentation variables. To give us more information about a particular<br \/>\nsegment.<br \/>\n3. Behavioral segmentation: Dividing your audience based on how they behave and interact<br \/>\nwith your business: What they buy, how often they buy, what they browse, etc. Which<br \/>\nproducts do they buy, which brands they prefer, how price sensitive are they, how brand<br \/>\nloyal are they, what are their attitude toward the product\/service.<br \/>\nCommon variables:<br \/>\na) Key benefits sought<br \/>\nb) Level of brand loyalty<br \/>\nc) Degree of price sensitivity<br \/>\nd) Volume of purchases = heavy or light users or non-consumers<br \/>\ne) Occasion = seasonal, special occasion versus everyday purchase<br \/>\nf) Buyer readiness stage (or stage in their customary journey)<br \/>\ng) User status<br \/>\nh) Usage rates<br \/>\n4. Psychographic segmentation: Dividing your audience based on why your buyer buys (e.g.,<br \/>\npriorities, personality traits, and beliefs and values)<br \/>\nPsychographic variables include personality traits, lifestyles, people\u2019s activities, interests,<br \/>\nand opinions (AIO), values, and mindsets. In other words, we are seeking to understand the<br \/>\n7<br \/>\nconsumer as a person first. What motivates them, what interests them, what they value, and<br \/>\nso on?<br \/>\nIt is typically much deeper and more insightful than either geographic or demographic<br \/>\nsegmentation, but without a relevant connection to consumer behavior it lacks usability for<br \/>\nmarketers.<br \/>\nYou need to ensure that the resulting segmentation structure is suitable for targeting, position, and<br \/>\nmarketing mix.<br \/>\nWhen you split consumers into market segments, final segments must be:<br \/>\na) Clearly identifiable \u2013 we know the type of consumer who is in each segment (that is, the<br \/>\ncharacteristics that have resulted in them being classified into that segment)<br \/>\nb) Easy to measure \u2013 we can measure the size and growth rate of the segment<br \/>\nc) Large enough to be profitable \u2013 the likely sales and revenue will be sufficiently profitable for our<br \/>\nfirm<br \/>\nd) Mutually exclusive \u2013 consumers tend to logically fit into one segment only<br \/>\ne) Unique behavior \u2013 from a marketing perspective, consumersin each segment act relatively differently<br \/>\n(in terms of purchases), relative to the other segments identified<br \/>\nf) Reflective of consumer behavior \u2013 the segments provide clear insight into how these consumers<br \/>\nbehave with purchasing and\/or their response to marketing mix tactics<br \/>\ng) Workable as target markets \u2013 reachable through communications, we have the<br \/>\ncapacity\/resources\/access to channels, etc.<br \/>\nh) Informative \u2013 segments should provide the marketer with helpful (and even predictive) information<br \/>\nabout the consumers in the market<br \/>\ni) Strategic fit \u2013 segments that work well in our strategy and business objectives<br \/>\nj) Logical and easy to communicate \u2013 the segments make sense to us as a business, and they are easy<br \/>\nto communicate to relevant staff and management<br \/>\nIdeally, most businesses would be best to look at 3 to 5 segments when dissecting their markets.<br \/>\nIf we only have one segment, then we have not engaged in market segmentation, as this is the<br \/>\nentire market.<br \/>\nIn your case, you must have 3-4 segments and target 2 segments.<br \/>\nTHIRD, step two of the STP is targeting the market for your unique theme park. Your main goal<br \/>\nis to look at the segments you have created before and decided which segments you created during<br \/>\nthe segmentation phase are worth pursuing. Your ideal segment(s) is (are) one that is actively<br \/>\ngrowing, has high profitability, and has a low cost of acquisition.<br \/>\n1. Size: Consider how large your segment is as well as its future growth potential.<br \/>\n2. Profitability: Consider which of your segments are willing to spend the most money on your product<br \/>\nor service.<br \/>\n3. Reachability: Consider how easy or difficult it will be for you to reach each segment with your<br \/>\nmarketing efforts.<br \/>\n4. Difference: There should be a measurable difference between any two segments. The lack of it leads<br \/>\nto unnecessary duplication of efforts.<br \/>\n8<br \/>\n5. Benefits: Different benefits attract different segments.<br \/>\nWhen selecting your target segment(s), do not forget that everything you consider fits with your<br \/>\ntarget customers and their needs.<br \/>\nWhat is the target marketing strategy used:<br \/>\na) Undifferentiated (mass) marketing<br \/>\nb) Differentiated (segmented) marketing<br \/>\nc) Concentrated (niche) marketing<br \/>\nd) Micromarketing<br \/>\nDescribe TARGETING in detail with TWO (2) pages of content.<br \/>\nFOURTH, determine, describe, and chart the best DIFFERENTIATION, POSITIONING &amp;<br \/>\nPERCEPTUAL MAP STRATEGY for your unique theme park. Think about the meanings in the<br \/>\nmind of consumers that will differentiate you from two competing theme parks. Use the<br \/>\n\u201cpositioning bases\u201d to determine how your theme park can achieve a desirable position in the target<br \/>\nconsumer\u2019s mind (e.g., closest to the \u201cideal\u201d). After the Positioning Strategy is determined, chart<br \/>\nthe \u201cPerceptual Map\u201d that illustrates your theme park\u2019s brand space in the target consumer\u2019s mind,<br \/>\ncompared to two competing theme park brands.<br \/>\nWhile segmentation and targeting are about customers, positioning is about your product from the<br \/>\ncustomer&#8217;s perspective. You can consider positioning as the bridge that connects your product with<br \/>\nthe audience. This is the stage where you perform competitor analysis, figure out your value<br \/>\nproposition, and communicate that to your customers.<br \/>\nBased on what your brand stands for, you can position your product in several ways. If you are in<br \/>\nthe luxury market, you can appeal to the \u2018desire for prestige\u2019 among customers by positioning<br \/>\nyourself as a status symbol. Or, if you fall in the budget category, you could differentiate yourself<br \/>\nby offering more benefits to your target at a lower cost than your competitors.<br \/>\nDescribe DIFFERENTIATION AND POSITIONING in detail with TWO (2) pages of content.<br \/>\nGetting to the Right Position<br \/>\nArriving at the best positioning and differentiation strategy involves a process. The goal of the<br \/>\nprocess is to design an identity that both confirms the value of the product, service, or brand in the<br \/>\ncustomer&#8217;s mind and explains why and how the offering is better than the competition. To reach<br \/>\nthat goal, marketers typically follow a positioning process comprised of the following five steps:<br \/>\na) Confirm your understanding of market dynamics<br \/>\nb) Identify your competitive advantages<br \/>\nc) Choose competitive advantages that define your market &#8220;niche&#8221;<br \/>\nd) Define your positioning strategy<br \/>\ne) Communicate and deliver on the positioning strategy<br \/>\nStep 1: Confirm Your Understanding of Market Dynamics<br \/>\nAt the start of the positioning process, you need a firm understanding of your target market.<br \/>\n9<br \/>\nStep 2: Identify Your Competitive Advantages<br \/>\nA competitive advantage is some trait, quality, or capability that allows you to outperform the<br \/>\ncompetition. It gives your product, service, or brand an advantage over others in purchasing<br \/>\ndecisions. There are different ways to differentiate your product\/service:<br \/>\na) Product differentiation (durability, reliability, repairability)<br \/>\nb) Service differentiation (convenience, delivery, installation)<br \/>\nc) Channel differentiation<br \/>\nd) People differentiation<br \/>\ne) Image differentiation<br \/>\nCompetitive advantage may also come from:<br \/>\na) Price: Something in your production process or supply chain may make it possible for you<br \/>\nto provide comparable value at a lower cost than competitors.<br \/>\nb) Features: You may provide tangible or intangible features that your competitors do not:<br \/>\nfor example, more colors, better taste, a more elegant design, quicker delivery, personalized<br \/>\nservice, etc.<br \/>\nc) Benefits: You may provide unique benefits to customers that your competitors cannot<br \/>\nmatch. Benefits are intangible strengths or outcomes your customer gets when they use<br \/>\nyour offering. For example, time savings, convenience, increased control, enjoyment,<br \/>\nrelaxation, more choices, feeling better about oneself, etc.<br \/>\nCreate a list of the things that make you different from competitors in positive ways. Then identify<br \/>\nwhich of these factors are also competitive advantages: the influential factorsthat help you perform<br \/>\nbetter in the marketplace and cause customers to choose your product, service, or brand over other<br \/>\noptions.<br \/>\nAs a rule, it is relatively easy for competitors to undercut your pricing or match your features, so<br \/>\nit is difficult to maintain a consistent competitive advantage in either of these areas. Market-leading<br \/>\nproducts, services, and brands are most likely to differentiate based on benefits\u2014the intangible<br \/>\nstrengths and outcomes that are harder for competitors to match.<br \/>\nYou do not necessarily need a long list of competitive advantages, but your list should be<br \/>\nsubstantive: it should include the things that truly create distance between your offering and<br \/>\ncompetitors. Dig deep to identify the intangible benefits your customers experience\u2013or intangible<br \/>\nbenefits they could experience\u2014from your offering that make it different and better than the<br \/>\nalternatives.<br \/>\nStep 3: Choose Competitive Advantages That Define Your Niche<br \/>\nYour list of competitive advantages represents a set of possible positioning strategies you could<br \/>\npursue for your product, service, or brand. The next step is to examine how these factors fit into<br \/>\ncustomer perceptions of your broader competitive set. Your goal is to pick a positioning approach<br \/>\nthat gives you a unique and valued position in the market that competitors are not addressing.<br \/>\nA perceptual map is a great tool for this step. Perceptual maps create a picture of how different<br \/>\ncompetitors are positioned in the market, based on the key criteria that strongly influence customer<br \/>\ndecisions.<br \/>\n10<br \/>\nMarketers use these sorts of perceptual maps to identify gaps in the market; these ones represent<br \/>\nopportunities to fill a niche in the market that isn&#8217;t being addressed.<br \/>\nAn alternate approach for you is to list two most important competitors and their competitive<br \/>\nadvantages. Then, add your own offering and competitive advantages to the list. Based on the<br \/>\nalternatives available to customers, think about where there are gaps between what customers want<br \/>\nand value most and what they can get from the choices available today. Identify where your<br \/>\ncompetitive advantages can help you fit into these gaps, since they will be the most promising<br \/>\npositioning approaches for you.<br \/>\nStep 4: Develop Your Positioning Strategy<br \/>\nStrong positioning uses your most promising competitive advantage to carve out the niche you<br \/>\nwill fill better than anyone else. Your positioning strategy takes this competitive advantage to<br \/>\nexplain what distinguishes you from the competition. Perhaps you deliver an emotional benefit<br \/>\nthat your target audience doesn&#8217;t get anywhere else (haunted castle attraction).<br \/>\nYou can follow any one or a mix of the following positioning strategies:<br \/>\na) Category-based positioning\u2013 determines how are your products or services better than the existing<br \/>\nsolutions on the market.<br \/>\nb) Consumer-based positioning\u2013 aligns your product\/service offering with the target audience\u2019s<br \/>\nbehavioral parameters.<br \/>\nc) Competitor-based positioning\u2013is a straightforward approach to prove you are better than competitors.<br \/>\nd) Benefit-based positioning\u2013 benefits that customers will get from purchasing your product\/service.<br \/>\ne) Price-based positioning\u2013 distinguishing based on the value for the money people get when purchasing<br \/>\nyour product\/service.<br \/>\nf) Attribute-based positioning\u2013 Competitors, price, and benefits aside, this calls for zeroing in on a<br \/>\nunique selling proposition that makes your product or service stands out from the rest.<br \/>\ng) Prestige-based positioning\u2013 proves that your products supply a certain boost in status to those who<br \/>\npurchase.<br \/>\nStep 5: Communicate and Deliver on Your Positioning Strategy<br \/>\nCommunicating your positioning strategy begins with creating a positioning statement. Your<br \/>\npositioning builds on a competitive advantage, and it is essential for you to deliver on the<br \/>\nexpectations your positioning sets in customers&#8217; minds. You should design your positioning<br \/>\nstrategy to endure over time, while recognizing that it can and should be adjusted from time to<br \/>\ntime to reflect changes in the competitive set, your target segment, market trends, and so forth.<br \/>\nIf your positioning is based on being an ideal \u201clifestyle\u201d fit for your target audience, for example,<br \/>\nyou need to demonstrate how your offering is attuned to the needs and experiences of this audience.<br \/>\nThis includes evolving as your target segment evolves. If your positioning is based on &#8220;owning&#8221;<br \/>\nan important benefit like delight, then you should explore all the ways you can deliver that benefit<br \/>\nbetter than any competitor who might try to imitate you.<br \/>\nAll the different factors that you considered before should have made it easy for you to identify<br \/>\nyour niche. There are three positioning factors that can help you gain a competitive edge:<br \/>\na) Symbolic positioning: Enhance the self-image, belongingness, or even ego of your customers.<br \/>\nb) Functional positioning: Solve your customer\u2019s problem and provide them with genuine benefits.<br \/>\n11<br \/>\nc) Experiential positioning: Focus on the emotional connection that your customers have with your<br \/>\nproduct, service, or brand.<br \/>\nThe most successful product\/service positioning is a combination of all three factors.<br \/>\nThe marketing mix provides the set of coordinated tools you use to execute on your positioning<br \/>\nstrategy. You might think of your positioning strategy as the tune you want your target segment to<br \/>\nhear. The marketing mix is how you orchestrate and harmonize that tune, making it a memorable,<br \/>\npreferred choice for your target customers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>1 FALL2022- MKT301- 35W- TEAM- ASSIGNMENT 1 SEGMENTATION\/ TARGETING\/ POSITIONING (STP): THEME AND AMUSEMENT PARKS This first team- assignment is worth 10 points. Its grading will be based on three\u2026<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6926,6925,6924,1387,6928,667,6923,6922,6927,6610],"tags":[6940,1400,613,142,6934,1394,6938,6935,6933,6937,6939,6941,222,6930,6936,133,6929,6886,6931,6932],"class_list":["post-48295","post","type-post","status-publish","format-standard","hentry","category-assignment-help","category-assignment-writing-help","category-dissertation-help","category-dissertation-writing-service","category-healthcare-assignment-help","category-nursing-essay","category-research-essay-help","category-research-paper-writing-service","category-write-my-essay-for-me","category-write-my-essay-online","tag-affordable-dissertation-writing-service","tag-best-custom-essay-writing-services","tag-best-dissertation-writing-services-uk","tag-best-online-essay-writing-services","tag-cheap-custom-essay-writing-services","tag-custom-research-paper-writers","tag-custom-research-papers-writing-service","tag-essay-writer-websites","tag-essay-writing-service-quality-cheap","tag-free-research-paper-writing-service","tag-help-me-write-a-research-paper","tag-i-need-help-with-my-dissertation","tag-online-research-paper-writing-service","tag-professional-dissertation-writing-service","tag-quick-essay-writing-service","tag-research-paper-writing-service-cheap","tag-service-writing-my-essay-write-custom","tag-someone-to-write-my-paper","tag-top-rated-dissertation-writing-services","tag-top-uk-dissertation-writing-services"],"_links":{"self":[{"href":"https:\/\/www.essaybishops.com\/essays\/wp-json\/wp\/v2\/posts\/48295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.essaybishops.com\/essays\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.essaybishops.com\/essays\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.essaybishops.com\/essays\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.essaybishops.com\/essays\/wp-json\/wp\/v2\/comments?post=48295"}],"version-history":[{"count":0,"href":"https:\/\/www.essaybishops.com\/essays\/wp-json\/wp\/v2\/posts\/48295\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.essaybishops.com\/essays\/wp-json\/wp\/v2\/media?parent=48295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.essaybishops.com\/essays\/wp-json\/wp\/v2\/categories?post=48295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.essaybishops.com\/essays\/wp-json\/wp\/v2\/tags?post=48295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}