Identify each customer segment’s specific wants and needs.

  • Describe the target customer for the product/service in terms of relevant characteristics that impact the marketing strategy, including location (how it should be reached) and buying habits.
  • Identify each customer segment’s specific wants and needs. Explain why they buy your company’s product or service, or a competing product or service.
  • Justify how well your product/service satisfies customer wants and needs. Identify any wants and needs that are not met by your product/service.
  • Analyze the position of your product/service in relation to the competition. Identify the main competitors. Explain how your product differs in terms of features, function, quality, price, availability, brand image, and the like. Explain why this differentiation is important to your customers.
  • Describe the source of competitive advantage for your product. Evaluate how sustainable is this source of advantage.
  • Assess the long-term sustainability of the source of differentiation and competitive advantage.

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