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1. MKT 498 Week 3 Team
Assignment Target Market
and Competitive Advantage
Paper
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2. MKT 498 Week 3 Team Assignment Target Market and Competitive Advantage Paper
Select the product or service from the Integrated Marketing Discussion in Week
Two.
Write a 1,600- to 2,000-word paper for which you first research the current
customer base, buyer behavior, demographics, psychographics, lifestyle,
geographic area, benefit segmentation, and user segmentation for the product or
service your team is studying.
Share your research information in your Learning Team forum so that all team
members can use it for this paper. Part of your individual grade for this team
paper will include the facilitator’s evaluation of the sharing that takes place
between you and your team members in your LT Forum. (3 points)
Identify the ideal target market for your Learning Team’s selected product or
service, based on your research. In your paper, include the following:
Provide a specific description of the target market, which should be measurable,
accessible, sustainable, differentiable, and actionable. (2 points)
Include the total marketing budget. This is when the cost of acquisition is not
greater than 10% of the product’s retail price or one month of an annual
service. (2 points)
Estimate the size of the market and estimated penetration percentage, and
describe how you came up with those estimates. (2 points)
Provide justification for your answers.
Determine a competitive advantage analysis in which you:
Identify the key attributes of the selected product or service for the target
market you have identified, including both rational attributes and emotional
attributes like color, style, or status. (2 points)
Identify at least three competitors for your product or service;
then determine the unique competitive advantage that your selected product or
service has for your target market when compared with each of those three
competitors. (2 points)
Format your paper consistent with APA guidelines.