Note : Answers should be computerized and in Details - Please do not copy and Pa

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Note : Answers should be computerized and in Details - Please do not copy and Paste

Note: This Assignment accounts for 5% of the student's final grade. Idea Scale: You are starting up your own company that will launch a new innovative idea (could be a product/service). Answer the following questions. ?. Describe this innovative idea (1mark). 2. Which segmentation technique you would be using to segment the market? And why? (2mark) s. Which targeting strategy you would be following? And why? (2marks) . Who would be your main competitors? (1marks) s. Which differentiation and positioning strategy you 4 would be following? And why? (2marks) 6. What would be your positioning statement? (2marks)

Explanation / Answer

Answer:

Innovative Idea: Online education services to girls for the class of K-10 to K-12

Segmentation technique: Segmentation technique will be used based on the segment of girls in the category of K-10 to K-12, so that girls can get the desired education service and explore uplift in their life. Factor segmentation will be the appropriate segmentation technique that will be used for this innovative idea.

Targeting Strategy: Focus on concentrated targeting strategy will be used for his because; we would like to focus on the girls segment for the K-10 to K-12 segment for educational services. We have expertise in K10 to K12 segment of education and we want to explore online to girls, so that they will be benefited.

Main Competitors: The main competitors for our business will be the existing players who support the education services to the students in the given marlet. However this is a new innovative idea, so currently we do not have any player who is offering this online education services in our local market. Thus global players could be a potential competitors for our business.

Differentiating and positioning strategy: Differentiated marketing and multi segment targeting will be the appropriate strategy for this business. The positioning strategy will be used to position the business in the market so that the business gets the growth path. Thus differentiation and position strategy will be useful for the business to bring it on the success path and will explore more students for the business.

Positioning Statements: the positioning statements for the new business will be such that the business will survive in the market and the target consumers (girls) will have enough awareness and influenced so that they will prefer to explore this business.

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