*** MODULE #3 SEGMENTATION, TARGETING & POSITIONING (STP) THEME PARK CASE ***
(Group/Individual Project; 40 Points; DUE by email Sunday July 20th @ 11:59pm)
This assignment allows you to demonstrate your knowledge of the chapter 8 Segmentation, Targeting, and Positioning (STP) strategies, which are essential for successful marketing. As a result, the assignment addresses the critical thinking skills of concept application and strategy formulation, the marketing functional area skills of STP, written communication skills, as well as your own personal idea generation and creativity skills. A one page synopsis of the “STP Logic” is posted to the course website in Module #3 and also handed out in class.
Working in groups, partnerships, or individually, you will use the information provided and additional information located on your own to create a unique theme park design and formulate a complete STP strategy for your theme park. The market can be domestic or global and the theme park can be a physical location, a virtual online location, or a combination of the two.
The assignment is presented as a “case study” to help structure your decisions and project activity.
Case Objective — Develop a theme park idea with a precise target market that will be successful in the real world.
Case Focus — Determine the best FIT between two strategic marketing dimensions:
- The theme park (product/service) idea, design, and features (chapter 11 new product innovation) – “supply”
- The potential theme park target market consumers and mental brand perceptions (chapter 8 STP) – “demand”
The specific steps to complete the STP Theme Park Case Assignment are as follows:
- Format … Use ONLY MS Word, 12 pitch Times font, 1” margins, double-spaced, subheadings for each step below.
- First (10pts) … Develop a unique THEME PARK IDEA and name by combining/modifying existing theme park attractions and creating entirely new features. Use the table below and background links above to guide your ideas. Describe THEME PARK IDEA in detail with 1 page of content (min), using either paragraph or bullet-point format.
- Second (15pts) … Select and describe the best TARGET MARKET PROFILE (chapter 8) for your unique theme park. Think about how the value provided by the park overall, as well as each individual attraction, will appeal to specific consumer characteristics. The target market must include ALL FOUR of the “segmentation bases” from chapter 8 and the profile should address specific “descriptors” for each “segmentation base” – not just general characteristics. For instance, “demographics” have descriptors of age, gender, race/ethnicity, income, occupation, etc. The other three “segmentation bases” each have specific “descriptors” that should be profiled as well. Remember, the target market is a precise profile of the customers who have the best fit with the theme park idea – not a list of the types of consumers who can attend (everyone can attend if they choose).
- a) Demographic b) Geographic (global) c) Psychographic (lifestyle) d) Benefits/Usage (behavioral).
Describe TARGET MARKET PROFILE in detail with 1 page of content (min), using either paragraph or bullet-point format.
- Third (15pts) … Determine, describe, and chart the best POSITIONING & PERCEPTUAL MAP STRATEGY (chapter 8, STP Logic, and Module #3 supplemental links) for your unique theme park. Think about the meanings in the mind of consumers that will differentiate you from competing theme parks, based on the perceived product/service category and brand ranking within the category. Use the “positioning bases” to determine how your theme park can achieve a desirable position in the target consumer’s mind (e.g., closest to the “ideal”). After the Positioning Strategy is determined, chart the “Perceptual Map” that illustrates your theme park’s brand space in the target consumer’s mind, compared to other competing theme park brands.
Describe POSITIONING & PERCEPTUAL MAP STRATEGY in detail with 1 page of content (min), using either paragraph or bullet-point format – including illustration of “Perceptual Map.”
"Is this question part of your assignment? We Can Help!"