For each decision Round you must make two decisions regarding the marketing of your Red Ocean product.
First, you should define the budget allocated to marketing activities. This budget will mainly be used to purchase advertising space: TV, internet, billboards, press, etc. It is aimed at building and maintaining the awareness of customers for your product. An important measure is your “share of voice”, i.e. the ratio obtained by dividing your own marketing budget by the total marketing budget of all marketed brands, including yours. You will most likely generate higher awareness levels for your product if your share of voice is higher than that of your competitors. Refer to the Market Studies chart described in the section Benchmarking for more information on competitive activities.
Secondly, you will also have to determine which customer segment(s) will be exposed to your advertising. The three segments are: 6-21 Year Olds, 22-35 Year Olds and 36+ Year Olds. For example, if you have modified a product with technical characteristics which correspond mainly to the 6-21 Year Olds segment, then you will most likely want to allocate the majority of your marketing efforts to these consumers. In order to do so, you need to locate the cell that corresponds to that segment and enter the percentage of marketing resources you plan to allocate to that segment. Of course, the total segmentation strategy must add up to 100%, otherwise you will get an error message.