Question: Please analyze the question and subsequent paragraph below and write-down your answer on the Blackboard. Question: What steps or segmentation mix Gloria Jeans Coffees might
Please analyze the question and subsequent paragraph below and write-down your answer on the Blackboard. Question: What steps or segmentation mix Gloria Jeans Coffees might have considered and implemented for effective market segmentation strategy before entering and getting established into Pakistans market as niche and differentiated product. Explain with illustrations to support your arguments. Steps in the Segmentation Process: 1.Needs-Based Segmentation: Group customers into segments based on similar needs and benefits sought by customers in solving a particular consumption problem. 2.Segment Identification: For each needs-based segment, determine which demographics, lifestyles, and usage behaviors make the segment distinct and identifiable (actionable). 3.Segment Attractiveness: Using predetermined segment attractiveness criteria (such as market growth, competitive intensity, and market access), determine the overall attractiveness of each segment. 4. Segment Profitability: Determine segment profitability. 5. Segment Positioning: For each segment, create a value proposition and product-price positioning strategy based on that segments unique customer needs and characteristics. 6.Segment Acid Test: Create segment storyboard to test the attractiveness of each segments positioning strategy. 7.Marketing-Mix Strategy: Expand segment positioning strategy to include all aspects of the marketing mix: product, price, promotion, and place. Source: Adapted from Roger J. Best, Market-Based Management, 6th ed. (Upper Saddle River NJ: Prentice Hall, 2013).
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