What bases of segmentation you have used and why

Assignment Help Marketing Management

Reference no: EM133606238

Assignment: Strategic Marketing

Instructions for assessment

The mode of assessment: A written report on the design of a marketing strategy and implementation plan for a new or improved product or a service of your choice underpinned by academic and professional literature. The proposed product must be marketed by an existing, well-known company.

Length: 3500 words.

Your report should include the following sections

Part I: Introduction and Product/Service Description

A brief description and rationale for introducing the new or improved product or service that is the focus of your report.

Part II: A Critical Analysis of the Market Context

Include a brief analysis of the market:

1. Key market trends (e.g. growth trends)

2. Who are the key competitors and how are they positioned?

3. Summarise the current customer attitudes/behaviours in this market

4. Identify the main issues / opportunities you think are relevant including social and/or ethical issues (if relevant)

Part III: Segmentation, Targeting and Positioning (STP)

1. What base(s) of segmentation you have used and why?

2. Include size, geodemographic, psychographic etc.

3. Summarise the profile and persona of your target marketand, if not a completely new product, how is the target market different from the segment(s) targeted in the past?

4. Include a statement that identifies why your target market should buy your improved product or service- i.e. what benefits it now offers and what problems it solves?

Part IV: Your Recommended Extended Marketing Mix (given your analysis above)

Traditional marketing mix elements:

1. Product (include, for example branding and packaging and service quality)

2. Pricing Strategy

3. Promotional Strategy including Digital Media

4. Channel or Distribution Strategy

Services marketing mix elements (where appropriate):

1. Process

2. Physical evidence (e.g. including essential and peripheral evidence, servicescape etc.)

3. People (including role of customer in the value creation process as well as employees and/or relationship marketing challenges)

Part V: A discussion of Implementation Issues

This section should discuss issues related to implementation such as co-ordination between different departments and the role of internal marketing, as well as resources and capabilities required to implement your chosen marketing strategy.

Reference no: EM133606238

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