Mastering Market Segmentation for Microwaveable Asian-Inspired Rice Bowls

Abstract

MKT 3330 – Advertising and Promotion Segmentation Assignment [Instructor Name] Due March 7, 2022, by 6PM Using what we discussed in class, the book, and on our PowerPoints for Chapter 6, please complete the following exercise and place your final product in the Turnitin Assignment Box named Market Segmentation Exercise. Discussion: As we have discussed in Chapter 6, many firms choose to take an STP (Segmentation, Targeting, and Positioning) strategy to improve the quality of their advertising and marketing. Segmentation allows the firm to divide the market into distinct groups based upon demographics, geographics, and psychographics, while Targeting allows for the firm to select which segments (markets) they wish to serve. Finally, Positioning allows for the firm to choose a value proposition and brand promise to the consumer, most usually a feature of the product or service that they offer which they can do better than any other competitor. Problem: You are a member of a marketing team that has been assigned to apply the STP Process for you firm’s new product, a microwaveable rice bowl with flavors inspired by Asian countries (Korea, Japan, China, etc.). The rice bowls each have a meat (chicken or beef) and a distinct flavor representing different countries and regions (Szechuan, Bulgogi, Katsu) throughout Asia. Your job is now to apply the STP Process to identify 1) distinct market segments, 2) target markets, and 3) a positioning strategy. Please write at least one-page, double-spaced, 12-point font, one-inch margins in response to this assignment. You may write more if necessary. The assignment is due by 6PM on Monday, March 6th in the Turnitin Assignment Box named Market Segmentation Exercise.