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BSBMKG401 Profile the market Assignment

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Reference no: EM133049098

BSBMKG401 Profile the market

PART A - REVIEW QUESTIONS

1. In your own words, explain the following terms in relation to Marketing. Please remember to reference.
a) Criteria
b) Positioning
c) Targeting strategy
d) Distinctive needs
e) Demographic descriptions
f) Prospective users
g) Psychographic descriptions
h) Marketing plan
i) Australian Bureau of Statistics (ABS)
j) Australian Marketing Institutecode of conduct

2. An important step in any marketing plan is segmenting the market.

a) In your own words, explain the term ‘Segment the market'?
b) What are the six (6) general criteria for segmenting?
3. Why would a business need to identify the "target market"?
4. If you had several positioning strategies how would you choose which one to use in the market place?
5. Once you have identified the "target market", how would you "profile" the target audience?
6. Feedback is one of the most effective tools used in many areas of business, including marketing.
A) Why is it important to listen to feedback from your target market?
B) What implications could there be if there was no adjustment made after detailed feedback was passed on to a company?

PART B - CASE STUDY - Aztec Rose

What is the Brand Manager role?
Are brands important in your industry?
Does Aztec Rose have a marketing strategy statement?

Question 1:

From the information provided, and from other sources you locate in your research, prepare a segmentation study of the Australian swimwear market. Your study should consider each of the 4 main segmentation dimensions:

a) Geographic (coast/inland, city/country, warmer/colder climates)
b) Demographic (gender, age, family or individual income, occupation
c) Psychographic (outdoor/indoor lifestyle, sporty/passive, fashion conscious)
d) Behavioral (frequent buyer/occasional buyer, quality/price buyer).

Question 2:

From the descriptions given and your own observations of the company's web site, analyse the positioning of the Aztec Rose brand. Your analysis should include:
a) A short statement of the brand's personality-how would you assess it against terms such as ‘modern', ‘fashionable', ‘sophisticated', ‘youthful', ‘colorful', ‘sporty', ‘quirky' and so on
b) A price/quality assessment
c) A competitive comparison against other brands targeting the same or similar customer groups.

PART C-PROJECT

You are required to develop a Market Positioning Strategy for one of the following organisations located in Australia:

1. An Internet Service Provider (ISP)

OR

2. A Mobile Phone Provider

Please choose a real provider already in the Australian Market.

You need to identify and explain:
• Identify the 5 sources of information that you used to segment and profile the market.

• Market Segmentation
o Identify 3 target groups
o Identify customer's characteristics for each target
o Estimate the consumer market potential using the 4 dimensions, geographic, demographic, psychographic and behavioural.

• Strategic Marketing and Targeting
o Select the most appropriate strategy, market aggregation, single-segment concentration or multiple-segment targeting for the Industry chosen in order to achieve a successful product/brand positioning in the market.

• Positioning Strategy
o Consider the 5 factors: competition, customers, company, repositioning and the marketing mix and present a positioning strategy for the industry chosen

Reference no: EM133049098

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