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11/8/2020

Pearson Branching

Simulation: Segmentation, Targeting, Positioning

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RESULTS REPORT Date:8 November 2020 Segmentation, Targeting, Positioning Holden Evan, Inc. is a large multinational consumer goods company. It has recently acquired Smoothsayer, a beauty cream for women, which offers several health benefits at a significant cost of $300 per jar. As Marketing Manager, your task is to target Smoothsayer to appropriate market segments, and define suitable positioning statements for it.

Holden Evan, Inc. is a large multinational consumer goods company. It has recently acquired Smoothsayer, a beauty cream for women, which offers several health benefits at a significant cost of $300 per jar. Smoothsayer fights skin aging in the short term (by reducing significant wrinkles) and in the long term (by providing UV protection). Product testing has shown that the product can slightly reduce acne as well. As Marketing Manager, your task is to target Smoothsayer to appropriate market segments, and define suitable positioning statements for it.

Before marketing Smoothsayer beauty cream, you must determine the target demographic for this product. To do this, evaluate the overall market and divide it into segments that will help you define your target audience. Gender is one segmentation variable you will use. Choose two more segmentation variables that will help you to effectively analyze the market for this product. You chose gender, age and skin care habits as your segmentation variables. This was a good choice because all of these variables are relevant when marketing an anti-aging beauty cream.

Now that you have divided the market into segments, what should be your next step?

Identify the market segment or segments to target. As your next step, you chose to select the market segment or segments to target. This was the correct choice, since you need to identify your target market before you can position your product or create a marketing campaign.

To identify the market for your product, you need to decide how many market segments to pursue. Select an approach that has a good chance of being effective.

Target two market segments at once, designing separate offers for each. https://pe-xl-prod.knowdl.com/content/atm_sims/mk_02.html

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You chose to target two market segments at once, designing separate offers for each. This was a good choice, since reaching out to more demographics can result in greater sales.

Now you need to narrow down each of the segments that you chose, in order to find the best target market for Smoothsayer beauty cream. Start by identifying the primary market for the product. First, what gender are you marketing to?

Female You correctly identified the market for Smoothsayer beauty cream as female.

Now that the primary target market's gender has been determined, what is the best target age group?

Middle-aged and older adults (age 35 and up) You chose an age range of 35 and up for the primary target market. This was the best choice for a product that contains anti-aging and wrinkle-reducing ingredients.

Which user type is the best fit for the primary target market?

Daily users of beauty cream You decided that the primary target market would be consumers who use beauty cream every day. This was the best choice, since daily users are more likely to buy the product.

You have chosen a subset of the 35-and-up age bracket as your primary target market segment. What is the other segment you want to target?

20-24, daily beauty-cream users You chose daily beauty-cream users in the 35-and-up age range as an additional market. This was the best choice, since this demographic would benefit the most from the product's anti-aging and wrinkle-reducing qualities and would be frequent users of the product.

In order to promote Smoothsayer, you need to decide how to distinguish it from its competitors. What is a good number of key product differences to promote? There may be more than one good choice here.

https://pe-xl-prod.knowdl.com/content/atm_sims/mk_02.html

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Two You chose to promote two key differences to distinguish Smoothsayer from its competitors. This was a good choice. Many marketers recommend positioning a product on more than one differentiator to clearly distinguish from competing products.

You are focusing on two product attributes when promoting Smoothsayer. Which product attributes do you want to promote?

Smoothsayer is high-quality and anti-aging. You chose to promote Smoothsayer as being anti-aging and high quality. This was a good choice to appeal to older consumers.

Bearing market share in mind, what is the best way to position Smoothsayer in the marketplace? Select a positioning strategy based on the information in this positioning map.

"Go ahead and splurge. Your skin will thank you." To position Smoothsayer relative to the competition, you chose the slogan "Go ahead and splurge. Your skin will thank you." This positioned the product as offering more for more, which was correct according to the positioning map.

What is the best reason for your choice?

Smoothsayer is more expensive than its competitor, but gives higher value for money. You justified your chosen slogan on the grounds that Smoothsayer was more expensive but gave higher value for money. This was the correct choice.

https://pe-xl-prod.knowdl.com/content/atm_sims/mk_02.html

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