For many marketing firms, marketing strategy and the marketing mix starts with the Product. Over time, the conceptualization of the Product has come to mean that the marketer is selling an experience or a means to solve a problem when they sell a product. The Product offerings value comes from the ability to deliver benefits to customers the help to meet the goals of the marketing organization. Thus, the Product fills an important role in marketing strategy.
For many firms, segmenting, targeting, and positioning are essential aspects of firm marketing strategy. Effective implementation of the market may be perceived as a key to firm success. In terms of the Product, explain the rationale behind this process and relate it to the bigger (strategic) marketing picture. How does segmenting, targeting and positioning help to achieve the goals of the marketing-oriented firm? Explain and use examples to illustrate.