During a trip to Japan, you were introduced to an exclusive and delicious type of beef: Wagyu. *Wagyu' refers to a Japan

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During A Trip To Japan You Were Introduced To An Exclusive And Delicious Type Of Beef Wagyu Wagyu Refers To A Japan 1 (85.39 KiB) Viewed 37 times

During a trip to Japan, you were introduced to an exclusive and delicious type of beef: Wagyu. *Wagyu' refers to a Japanese beef cattle breed and its tender, highly marbled meat is gradually becoming more popular in other countries, far beyond Japan. A quick search on Google tells you that Wagyu is being served in a few restaurants in Bahrain too, but you believe that the market is far from saturated. To substantiate this hunch, you are going to apply what we learned during our Marketing Management course and determine whether selling Wagyu beef in Bahrain yourself would be a viable endeavour. Your first step will be to determine and develop your value proposition. Determining and developing your value proposition 1. a. First, you are going to identify and outline 2 market segments that operate in this fragmented market. Make sure to document the i) psychographics, ii) demographics, iii) geographics, and iv) the segments' behavioural patterns of these 2 market segments. Substantiate each of the segments that you have identified by referring to both a piece of qualitative data and a piece of quantitative data that you have come across during your market research 250 words max. per market segment, excluding data; 750 words max. in total, excluding data b. Next, you will target 1 segment toward which you will be directing your marketing efforts. Argue why you believe your resources are best spent targeting this market segment 250 words max. 2. Describe what the (i) core product is that you will be offering. (ii) the actual product, and iii) the augmented product. 250 words max. 3. Write a positioning statement. Use the following format: “To (target segment and need] our [brand) is (concept) that (point of difference). Explain the rationale behind your formulation. Refer to Maslow's Hierarchy of Needs to explain on what need(s) you will focus. 250 words max, excluding the positioning statement