8 questions to a marketing project

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 which includes wine bar, lounge, cinema and restuarant. For those white collar worker who tnds to not have too many oppotunities 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 an another advantage of ‘being close’. So that these people do not need to drive far. Moreover, white collar people tends to have relatively high demond for wine and going to bars, which can also to an attraction to them.

Multi-segment targeting: seperate 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 restuarant. We can see the advantage and sepcialities 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 elemnt, which attracts a lot of tourism in the world. iPic theater can also be a nice place to go for tourists to go. (since iPic theater will be the first and only one viariable functioning theater in Shanghai.) The ‘Moderness’, which is also a significant elemnt od iPic theater will attract those tourists who came to Shanghai for its ‘moderness’.

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

‘ultimate relaxation that right next to you’ segment : who do not have much time to go out.

‘modern placa to have fun’ segment: cusumers are initailly drawn for tourists who came to Shanghai for its ‘morderness’

Rule: Use 1-7 words for naming each segment - PUT THE NAME ON TOP OF EACH SEGMENT DESCRIPTION. I should see the name of the segment, and then the description.

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

a. Include a photo and name of each PA

b. Describe of each PA’s life.

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

4. 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.

Outcome: Innovation

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

5. 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.

TIP: Make sure to define your terms and supplement your diagram with your rationale, if it will help us understand your evaluation. For example: “Quality” is too vague.

TIP: Look at your means-end chain work to help you select the most important characteristics.

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

TIP: Your positioning map should help you see opportunities for innovation, as should your LS segmentation and archetypes’ stories.

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

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