questions

Project Ipic theater

TEM: Shanghai

1. Identify two lucrative segments (LS) for your BPS in your TEM

Provide a description using lifestyle, attitude, interests, opinion and behavior information.

Concentrated Targeting: focusing on a specific market of people have big workload (white collar workers), who do not have too much time of having fun. This variable functioning theater includes wine bar, lounge, cinema and restaurant. For those white collar worker who tends to not have too many opportunities or time to go out, this will be the one place that they can get together and have fun. Also, Shanghai is a pretty big and modern city, this theater will be located in the middle of the city center, which has another advantage of ‘being close’. Therefore, these people do not need to drive far. Moreover, white collar people tend to have relatively high demand for wine and going to bars, which can also be an attraction to them.

Multi-segment targeting: separate the market into groups of ‘too busy customer’ and ‘nothing to do customer’. Since the mean idea of iPic Theater is variable, which includes cinema, bars and restaurant, we can see the advantage and specialties can fits different type of people. First is white-collar worker, as discussed above, who would need one place to have the most relaxation. The second group of people could be the tourism. As we known that Shanghai is not the biggest economic city in China, but also contains many Chinese historical elements, which attracts a lot of tourism in the world. iPic theater can also be a nice place to go for tourists to go. The ‘Moderns’, which is also a significant element of iPic theater will attract those tourists who came to Shanghai for its ‘modernist’.

2. Create a descriptive name for each segment to help us quickly understand the motives or behavior of each segment.

‘Ultimate relaxation should be a descriptive name that right next to your segment. This name would be used by those who do not have much time to go out. As the name suggest, it can help us understand the motives as well as behavior of the segment, which is meant to give people without much time a relaxing place, where there can go and relax after a tiresome period.

‘Modern place to have fun’ segment: costumers are initially drawn for tourists who came to Shanghai for its ‘morderness’. As the name suggest, it can help us understand what the place is all about. For those seeking to visit modern places in Shanghai can search for the name.

3. Produce a persona or archetype (PA) for each segment

Include a photo and name of each PA

Ultimate relaxation persona

Modern place persona

Describe of each PA’s life.

Bothe the life of each persona is modern. They both involve modern life.

Include brands of other products and services that help us understand each PA’s preferences, priorities, and the PA’s purchase and use behavior.

In these case, other brands of products and services, which help us understand each PA’s preferences, priorities, and the PA’S purchase and use behavior include drinks and massage services for relaxation segment. On the other hand, for modern place segment some of the brands of brand include tour guide services and refreshments drinks. These brands of products and services would help us understand each PA’s preferences, priorities and the PA’s purchase and use behavior.

Extra Credit:For each LS, create a perceptual map with at least five competitors from your cone of competition. TIP: You will have two perceptual maps because your two LS would see the competitors differently.

Holidays	Travel Distance 1=close, 5=far	Culture difference 1=similar, 5 different
U.K	1	4
Canada	1	1
India	5	5
Australia	5	2
Brazil	2	3

Note: You are creating an innovated or locally adapted BSP (IBSP) based on your LS perspective, using a positioning map.

Therefore, some of the competitors to Shanghai tourist sites are Brazil, Australia, India, Canada as well as United Kingdom.

The reader notes you start out with a demographic - white collar worker. We should not see that, instead we should see: we should see the segments' attitudes, interests, opinions and behavior, along with unmet needs and conflicts. Could you remove all unnecessary material - including the assignment instructions and just revise it so that we see what we need to see? Thank you!

Outcome: Innovation

1. From each of your LS perspectives in your selected EM, evaluate 3 competitors plus your current BPS. Create a positioning map, using 5 characteristics that matter the most to each LS. It may help to use an Excel spreadsheet and the radar charting option, to show each competitor’s relative advantage or disadvantage of these key characteristics. Score each competitor on each characteristic using a scale of 1 to 5, with 5 being best.

If you have positioning/image data that is quite complex will has not been analyzed previously, then a radar chart is a good place to start sorting through the data and is often a better approach than a traditional perceptual map. Radar chart comes in very handy to quickly summarize the data. The radar chart shows all product attributes for the brands only .This allows you to quickly compare the brands on all attributes at once, in order to get a sense of where they stand out and how they compete against each other, as well as get a good understanding of what the brand is about.

2.. Identify two innovations or local adaptations to your BPS that provides a more compelling positioning or USP, with the LS in mind.

There are various innovations for BPS, but the most innovations that provide a more compelling position in my selected lucrative segments include ergonomics and aesthetics-design. For relaxation segment ergonomics would provide a more compelling position since this type of lucrative segment is mainly involved in providing comfort facilities to those seeking relaxing places. On the other hand, modern place segment would use an aesthetics-design. This is mainly due to the fact that tourist is based on seeing the environment as you tour places.

3. Describe the adaptations or innovations and their benefits, particularly how they enhance or change the means-end chain

Innovation may be linked to positive changes in efficiency, productivity, quality, competitiveness, and market share, among other factors.

Product innovation:

It consists of changes in product attributes with a change in how the product is noticed by consumers.

Process innovation:

It consists of changes regarding the product or the service production process. It does not necessarily have an impact on the final product but produces benefits in the production process, generally increasing the productivity and reducing costs.

4. Show the innovations – you may use graphics or draw elements (rough drawings are fine)

Innovation has the ability to add value to company’s products, differentiating it, even momentarily, in the competitive environment. Innovation is even more important in markets with plenty of commodities, such as the ones presenting a high level of competition and whose products are roughly equivalent between competitors. Those who innovate in this context, either doing incremental or radical, product, and process or business model innovations are at an advantage over the others.

Innovations are important because they allow companies to access new markets, increase revenues, perform new partnerships, learn new knowledge and increase the value of their brands.

It looks like you copied the assignment and added some commentary perhaps, but did not do the work