Analyse the theory and research and apply it

Reference no: EM133504411

Question: Start your research with your textbook (Sharp, 2017) and then access peer-reviewed journal articles and suitable websites (e.g. government statistics). Discuss the options with your assessment partner and decide what option(s) is would be best for marketing your product. You may have ideas of your own to justify your choices but these ideas need to be supported with theory from your textbook, journal articles or reputable websites.

Consider whether you are going to segment and target a specific group, or mass market. To do this:

Research Market Segmentation (Chapter 6, Sharp, 2017)

- Demographic

- Geographic

- Psychographic

- Behaviour/ Usage

Research aspects of Target Marketing (Chapter 6, Sharp, 2017)

- Mass Marketing/ Undifferentiated Marketing

- Target marketing: Deciding which segments to target

- Concentrated/ Focused Marketing: Focusing marketing strategies on one segment

Analyse the theory and research and apply it to your product.
Are you going to segment and target a specific group, or mass market? Note that some marketing plans focus only on a specific segment that will be targeted for maximum growth.
If this is the case, you will need to outline this segment and justify why this one has been chosen.
If you have decided not to focus on a specific segment (Mass Marketing), you will need to justify this decision instead.
Using the information you have gathered, and the conclusions you have made above, use the following guide to structure your submission.

Cover page
Name of assignment, unit number and name, your name and student ID, tutor's name, due date, word count.
Introduction
General statement about why it is important for marketers to consider the segmentation when they are planning.
Identify what you will be focusing on in this essay: Segmentation, targeting and/or mass marketing.
Identify and briefly describe the product you will be using in this essay.
Paragraphs
Each paragraph should have at least one reference (citation) that relates to theory and is from a peer reviewed source.
You may wish to combine your target market theory and justifications in your segmentation paragraphs. However, how you decide to structure your essay is your choice.
Conclusion
Concise overview of the key information in the body of your essay.
Identify, from your perspective, after considering all information and ideas, how your strategies achieve your objectives.
References
You must have at a minimum 4 different peer-reviewed sources, and one source must be your textbook. The required referencing style is APA (American Psychological Association),

Reference no: EM133504411

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