Section 2 - Segmentation, Targeting & Positioning a) Explain how the market for the new yoga franchise could and should be segmented for consumer (B2C) AND business (B2B) markets. b) Discuss targeting methods that could be used for the B2C market and who you would primarily target with this new product in terms of characteristics including demographics, behavioural, benefits sought and lifestyle. C) Explain what is meant by the term "positioning' and suggest how the new yoga franchise would be positioned in the consumer market. (900 words) (30 marks) (LO3)Hot Hot Yoga Product Explain how products are developed to sustain competitive advantage - consider the market and competition here Place Explain how distribution is arranged to provide customer convenience - where will the franchises be established? Where will sessions take place Price Explain how prices are set to reflect an organisation's objectives and market conditions Promotion Illustrate how promotional activity is integrated to achieve marketing objectives - the communications mix including social media. Analyse the additional elements of the extended marketing mix: People How important are the staff to brand purpose and brand image (even if they are not all customer facing?) Physical Evidence What significance will the visible elements of the brand take to ensure positioning and consistency? Process Think of packages for membership here for example corporate or consumer plus how do customers book, etc? (900 words) (30 marks) (LO4 & L05)\f