Reference no: EM13163967 , Length: 2000 Words
Case Study Questions and Answers.
Individually or in pairs, you will be allocated a business by your trainer (you may select another business but you must first check this with your trainer )
This Case study task requires students to identify a product, service or business and describe the general market of that product or service. The objective is to profile a market or market segments in accordance with a marketing plan and to develop market positioning strategies. This involves identifying viable market segments and profiling target consumers, and then defining the target market in more detail and developing strategies to position products and services.
Students will apply marketing theory and principles to their answers and discussion.
Your trainer will allocate a product, service or business, or you may wish to choose other - some suggestions below.
- Chocolate bar
- Snack bar
- Breakfast cereals - eg Cornflakes
- Bottled water - eg Pump
- Takeaway food - eg Subway
- Coffee shop - eg Hudson's / Gloria
- Education - Cambridge
- Beer - eg VB
- Hotel - F1
- Fitness centres - eg Fern-wood or Contours
- Wine
- Bicycle
- Tea
- Coffee -
- Soft Drink - Coke
- Hairdresser
- Clothes
Based on your nominated product, service or business, (market offering) MO, answer the following questions.
1. Identify and briefly describe your MO, identify and describe the main characteristics and attributes.
2. Identify the general category / market for your nominated MO.
3(a) Segment the general category: Identify the bases (ways) to group buyers into subsets.
According to their needs and other requirements. Use demographic, psychographic,
consumer, business and/or other descriptions (segmentation criteria) to describe and explain how the general category is segmented.
3(b) Identify consumer attributes and motivations for the market or market segment from the market profile or existing customer data. Discuss the impact of individual, social and lifestyle influences on consumer behavior for your or a given product or service. Describe in what ways lifestyles affect the consumer buying decision process?
4(a) Review the various market segments for their usefulness in terms of factors such as their size, potential, distinctive needs and easy identification of members, and media consumption behaviour of each segment. What approaches could be used to determine and describe the total market for a product or service.
4(b) Assess the reasons for existing levels of consumer interest by investigating consumer need for the product or service by looking at trends and past performance.
5. Describe the types and sources of information available to the marketer for use in segmenting and profiling markets. What information sources were available to you for use in your segmentation exercise?
6. Identify and describe the segment of your selected MO, use segmentation descriptors and standard statistical terms to describe your MO particular segment. Identify media consumption behaviour of your target market.
7. Why do you think your segment was selected and targeted by your MO? How does MO create a better value offering than its competitors, (or at least compete with other offerings) is there anything distinctive about your MO? Describe.
8. Identify and describe how your MO is strategically positioned (creates an image or concept for the consumer) Provide a positioning diagram -Perceptual Map, to show how your MO is positioned. Do you think your MO is positioned well?
9. Describe two buying experiences you have had recently and identify which problem solving processes you used. Describe why these processes were appropriate.
10. Explain why marketers are concerned about consumer attitudes, behaviors and motivations?