Assessment item 3
Length: 2000 words (without reference list and report format)
APA Reference style ( mainly use text book for the reference) - Elliott, G., Rundle-Thiele, S., & Waller, D XXXXXXXXXXMarketing (au) 3e.
For Assessment Three you are required to complete a target marketing exercise for the organisation that you work for or an organisation you are familiar with. Target marketing is the topic that you studied in Week 5, it is described and discussed in Chapter 6 of your text book, and it comprised the three sequential stages of market segmentation, market targeting and positioning. ( I have attached chapter 06 )
Please note: The organisation you choose for assessment three will be the organisation you MUST write about in assessment four so please read ahead to ensure you have made the co
ect choice before deciding on your organisation of choice.
Part A - Segmentation
Discuss the various ways an organisation can segment their audiences (i.e. using behavioural, demographics, geographic etc). Critique the relative advantages and disadvantages of each of the four segmentation variables. Support your response with various theoretical approaches used when segmenting consumer markets. Use at least two academic resources other than your text.
Part A should be approximately 1000 words and is worth 15 marks
Part B - Targeting
Define a target market. Identify and describe a primary and secondary target market for your organisation. Please use the “consumer profile” template to help present your argument, using the heading of segmentation variables as identified above. Justify your decision based on the selection criteria (see page 205 of your text book Elliott, Rundle-Thiele & Waller, XXXXXXXXXXI have attached chapter 06 including page 205)
Part B should be approximately 550 words and is worth 9 marks
Part C - Positioning
Positioning (be sure to explain concepts with theory)
a. Identify and explain how your organisation has been positioned. Create a perceptual map to help support your response (see resources folder for a template). Evaluate this position in the marketplace (i.e. positive/negative)
. make a recommendation for a new positioning statement. Explain why you made this recommendation by linking it back to your segmentation consumer profile
Part C should be approximately 450 words and is worth 8 marks
Referencing and communication skills are important and worth 3 marks
Rationale
This assessment is designed so that students will:
· be able to define and describe the complexity and diversity of markets and marketing's response to it;
· be able to interpret and apply marketing concepts and models to the market place;
· be able to have skills in researching and communicating ideas about industries, markets and marketing strategy; and
· be able to analyse real-life business situations by comparing and contrasting the theoretical concepts in marketing theory
Marking criteria
Criteria: The various skills to be assessed
Fail (0-49)
Pass (50-64)
Credit (65-74)
Distinction XXXXXXXXXX)
High Distinction (85 – 100)
Analysis and application of Segmentation theory based in research and applied to a clear context
0-15 marks
Unsatisfactory work, a lack of research, limited insight and/or application weak review of segmentation concepts. No advantages or disadvantages discussed. No academic resources references.
Satisfactory work, mainly descriptive but lacking in a detailed research and analysis and thus only a relatively basic segmentation processes. Limited application to context, only some advantages and disadvantages identified.
A well-reasoned discussion of market segments, advantages and disadvantages critiqued and applied with good research from academic and industry sources.
A comprehensive theoretical discussion of market segments. Advantages and disadvantages explicitly critiqued and supported by very good research from academic and industry sources.
A comprehensive and insightful theoretical discussion of market segments. Advantages and disadvantages explicitly critiqued and supported by outstanding research using academic and industry sources.
Target Market
Identification and justification of relevant target market to chosen segments
0-8 marks
No primary or secondary target market identified and no selection criteria examined
Target market defined. A primary and secondary target market stated. A basic consumer profile completed some description of these markets and no justification. No selection criteria examined
Target market defined. A primary and secondary target market described and a justified selection of a primary and secondary target market. A logical consumer profile applying the criteria of the identified target markers. A justified selection criteria applied.
Target market defined. Very good research to describe the primary and secondary target markets. A comprehensive theoretical discussion linking the selection to the criteria.
A well justified selection of target market with application clear and insightful.
Target market defined. Outstanding research to describe the primary and secondary market. Well justified selection of target market and application is realistic and explicit. A well justified and comprehensive theoretical discussion linking the selection to the criteria.
Positioning Statement
0-8 marks
No analysis of cu
ent market positioning, no or advantage’s or disadvantage’s discussed, no application of recommendations for a positioning statement provided, no perceptual map.
Limited analysis of the cu
ent market positioning including advantages and disadvantages. Recommendation for market positioning statement is made and perceptual map, but not clearly applied to segmentation
Good description of how of why cu
ent positioning is made.
Recommendation for a market positioning statement and perceptual map that is clearly linked to segments
Detailed explanation of how and why cu
ent positioning is made.
Recommendations for a competitive market positioning statement and perceptual map that is logically applied to segments
Thorough analysis of how and why cu
ent positioning is made.
Recommendation of an explicit, realistic sustainable and competitive market positioning statement and perceptual map that is logically applied to segments
Referencing and communication
Use of APA 6th style
Report has tables, images, labels, and professional formatting
0-4 marks
Numerous e
ors in presentation, grammar
Major e
ors or absence of APA referencing style and application
Presentation in a report format, but with some inco
ect formatting, grammar
Many style and application e
ors APA referencing
Good presentation in a report format, reasonable grammar
Style or application e
ors in use of APA
Very good presentation in a report format, mostly co
ect grammar
Only minor e
ors in use of APA referencing
Excellent presentation in a report format, co
ect grammar
E
or free referencing using APA
Presentation
Assessment Three is to be presented as a report. Therefore an executive summary and a table of contents should precede the main body of your report. Use headings and subheadings where appropriate, and use illustrations if they will help to communicate your ideas.
At the end of your report include a list of references and any appendices if required. The additional report format will not be included in the total word count.
How to create a consumer profile
Segmentation
tool
Details of Customer
Profile
Jenny
Geographic
Density, u
an,
topography
Canbe
a subu
s
Demographics
Age, ethnicity,
marital status,
children, income,
occupation,
education
Jenny is Australian, she works as a
and manager, she lives in a
free standing house, she has an average income of $78,000 per year,
she is ma
ied, total household income before tax is $185, 000 per
year, with mortgage repayments at $2000 a month, no children
(yet), 26 years old, Anglican, holds a Bachelor degree in Marketing-
she is considering doing a Masters soon
Behavioural
Usage rates,
occasions,
and
loyalty
Jenny seeks excitement and new tasks; she wants to be free to try
new things, she likes to make friends and be part of a group, she
enjoys shopping, but limits her purchase behaviour and avoids
impulsive buying and is
and loyal- she thinks birthdays are very
important and puts a lot of thought into the presents she buys
others. They have a car, but Jenny likes to walk or ride her bike.
Psychographics
Lifestyle
Roy Morgan Values
Jenny is “Socially aware” (Elliott et al. 2012 p191)
Refers to a pattern of responses from people who are community
minded and socially active
Focus on innovation and learning
Lead users
Heavy readers of newspapers and magazines that contain
information not presented in the mainstream media
Light consumers of commercial TV
Include a
picture-
makes it
more
personal
Include the
segmentation
variables-
with the key
areas
identified From the
data you
have
esearched
and
analysed-
describe
your
“average”
consumer
someTitle
CHAPTER 6
Markets: segmentation,
targeting and positioning
Learning objectives
After studying this chapter, you should be able to:
explain the
oad concept of a ‘market’
understand the target marketing concept
identify market segmentation variables for consumer and business markets,
and develop market segment profiles
select specific target markets based on evaluation of potential market segments
understand how to effectively position an offering to a target market in relation
to competitors, and develop an appropriate marketing mix.
Elliott, G., Rundle-Thiele, S., & Waller, D XXXXXXXXXXMarketing (au) 3e. Retrieved from http:
ebookcentral.proquest.com
Created from csuau on XXXXXXXXXX:23:15.
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Target marketing and
marketing Target
Australian retailers have been doing it tough as they struggle to come to terms with the
challenging global economic environment, combined with the continued strong growth
of online shopping. There are conspicuous exceptions, such as the large supermarket
chains — especially Coles and Woolworths, which seem to be relatively immune from
these ‘macro- environmental’ threats. In addition, there are retailers, such as JB Hi-Fi,
whose cost structures and business models allow
them to compete successfully on price against local
and online retailers.
For many established retailers, however, the pos-
ition is less rosy. In particular, traditional depart-
ment stores such as David Jones and Myer face
a seemingly perpetual challenge to remain com-
petitive with their high cost structures, combined
with diminished levels (and public perceptions) of
customer service. In particular, the cost to provide
‘traditional’ department store customer service is
clearly prohibitive in the face of discounted prices
offered by ‘big box’ retailers like Harvey Norman
and Bing Lee, and the familiar discount department
stores like KMart and Big W.
However, even among the discount department stores, the news is not all good. Kmart
has pushed its prices down and introduced a house
and for most products. Big W and
Target have both sustained damage from this new approach. Like all retailers, Big W
was stung by discounting in the home entertainment segment, and Target is ‘viewed
neither