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Assignment - Markets Segments and Decision Making
Task - The next stage of the marketing audit is for you to consider the market for your organisation and evaluate the opportunities and threats that exist for your chosen organisation. NB: if you have a number of markets it is a good idea to focus on just one.
Incorporating theoretical concepts into your discussion and with the use of other theoretical sources and secondary research, please discuss the following:
1. Briefly describe the industry market for your organisation and evaluate current trends in:
3. Macro environment (PESTLE factor)
2. Outline and examine to major market segments for your organisation and identify your primary, and secondary target markets.
3. Discuss the level of involvement your primary segment is likely to have towards your organisation in terms of the decision making.
4. Describe the nature of competition in your industry. Explain and analyse your organisation's place in the market by comparing and contrasting its strengths and weaknesses to your main competitor.
5. Taking into consideration the primary segment, their level of involvement and the competition, create a positioning map for the market place.
You need to select an Australian based organisation or you could select an International organisation but it needs to have a presence in Australia. (I.e. Apple is acceptable since you can purchase their products in Australia. Ensure that you review the Australian market and consumers.)
Given that companies usually have a wide product offering that may cater to different market segments, it is encouraged that you focus on 1 product / service to streamline your analysis.
Also, you need to select a B2C market so that you can profile your target markets effectively.
This assessment task will assess the following learning outcome/s:
- be able to find relevant and important information about organisations, their industries and marketplaces from secondary sources.
- be able to evaluate the key marketing aspects of segmentation, targeting and positioning (STP) and be able to analyse an organisation's approach to STP.