Marketing Project

Marketing Project Paper details: Assessment Task 1: Marketing Project Scenario or background information The outcome of this assessment is a market positioning strategy report regarding a product or service of your company of choice. The product or service should be either one that is slightly different to that already offered by the company or a completely new product or service for the company. To assist with the development of the market positioning strategy, you will need to identify and use a marketing plan for the company that provides the product or service. This plan will provide you with key information such as marketing objectives that you will need when completing the assessment. The project work that you complete as part of developing your market positioning strategy must be written up in report format that includes all the information as set out in the assessment requirements below. Your assessor will provide you with a template for the reports and you must ensure that you use this format. Requirements Part A: Market segmentation For Part A of this assessment you must develop a market segmentation report: 1. Include a description of the product or service you have chosen. 2. Broadly describe the market for this product or service, including market potential. 3. Describe the segmentation criteria that you will use and why you have chosen these criteria. You should also detail how your choice of segmentation criteria links to relevant information about segmentation in the company marketing plan. 4. Document sources of information that you will use for segmenting and profiling markets. Include references for all the sources of information that you use; for example, website references and the title and publishing date of reference sources such as journals or annual reports. 5. Describe each possible market segment for the product or service you have chosen and in terms of the segmentation criteria that you have identified for use. 6. Review each of the market segments with regard to whether they meet the criteria for effective segmentation, e.g. are they measurable, actionable, etc. 7. Identify new segmentation criteria where you have evaluated that segments do not meet the criteria for effective segmentation. 8. Identify at least three market segments that you consider have the most potential based on your research. Part B: Identification of target market For Part B of this assessment you must develop a target market report: 1. Describe the total market for the product or service, e.g. total sales, etc. 2. Provide an evaluation of the attractiveness of each of the segments you have identified, for example, growth rate or profitability, does if fit with marketing objectives. 3. Describe each of the target markets you have selected in terms of the segment descriptors. 4. Explain the range of strategies applicable to each segment including effective advertising or distribution strategies and effective and suitable targeting strategies. 5. Identify suitable strategies for each segment and in accordance with strategies in the company marketing plan. SGA590 Identify the market Workbook Part C: Consumer profile For Part C of this assessment you must develop a consumer profile (no more than 2 pages for each profile) for your target market. 1. Your profile must use standard statistical terms and/or descriptive terms used in media selection. 2. Outline demographic and/or psychographic descriptions. 3. Include a description of attitudes to the product or service. Part D: Market positioning For Part D of this assessment, you must develop a marketing positioning strategy report: 1. Describe at least 4 positioning strategies that an organisation can choose to follow and are relevant to your target markets. 2. Identify options for positioning strategies based on marketing requirements as identified in the company marketing plan and your selected target markets. 3. Outline a marketing mix based on the positioning of your product or service. Criteria ? Criteria within each section of the report that is Part A – Part D were satisfactorily addressed. This means that adequate research and analysis were conducted evidenced by written responses which satisfy the question or request in each section. Word Limit: (Approx. 1500 words).