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Differentiation and Brand Positioning - Essay Example
Pages 3 (753 words)
Differentiation, Branding and positioning Name: Institution: 1) If you were developing a research design, what behaviors, demographics and lifestyle components would you include? And why? Was Saxonville’s approach appropriate for the task? In today’s business world, a person seeking to start a business will need to evaluate a number of issues in the market…
This information is highly crucial to a business since it assists to give it an overall breakthrough and to plan itself well. If I was developing a research design, I would ensure that I include these components in my design in order to ensure that I handle all the required issues. While considering the demographics, I would tackle such factors as age of the targeted population. Evaluation of the age component is indeed crucial since; different age groups will have different needs and wants. Taking for instance, most of the individuals in the young generation are interested in the latest technology. Therefore, in order to know where to position itself, a business will need to evaluate the age of the population. Another issue that I would evaluate under demographics is gender. This is because; a business will have to decide whether to target the female group or the male group. Other demographic factors that I would evaluate include; the income and ethnicity. Assessment of the ethnicity is mainly relevant to the business since it helps in segmentation of the market. This is because; different ethnic groups will have different preferences and choices which might affect the overall demand market. ...