Conduct a Segmenting and Targeting of the US Market and Product Positioning (STP)
The company for this project is Canadian Solar (https://www.canadiansolar.com/)
The next step in developing your strategic analysis report involves segmenting, targeting, and positioning (STP).
Segmenting refers to breaking the market down into homogenous groups.
Targeting refers to selecting the customer group or groups that you will focus your marketing efforts on. The appropriate segmentation variable is dependent on the needs and wants of customers.
These decisions are directly tied to your value proposition and require extensive marketing research on the customers. Once the segmentation variable is determined and the target markets selected, you need to develop a positioning strategy, which refers to the way you want the customer to view the product or service relative to the competition.
Describe the market research you would conduct to analyze and segment the US market. Explain how you would select your target markets and explain the process of positioning the company’s products or services relative to the competition.
Deliverable: By the end of Week 9 detail your STP in a six-page document. This will ultimately form part of your strategic analysis report. Submit your document to your teams study group.
Your overall STP is important, because it will create a foundation for the refinements you will make in the next step, where you will compete and submit your strategic analysis report.