User Account

All Pages

Describe the criteria for market segmentation

Assignment Help Marketing Management
Reference no: EM131684254

Profile the market Assignments

Assessment 1 -

Consider the following scenario -

VIT cafe is located in the Abbotsford area located by the river. The VIT café is opened 7 days a week for Lunch and brunch and on the weekend it attracts a lot of locals due to the fact that it has great fo and it is a relaxed atmosphere.

You have decided to ran a huge marketing campaign for the café and change the menu. Before you do this you decided to have a look at your sales records over the last 12 months.

After analysing your sales records you noticed that there was a huge shift.

You noticed this by the types food the customers where buying, and this rang alarm bells.

You decided before you do any kind of marketing or changing of the menu you want to learn more about your local area. This is done by doing some research.

As a manager you are to collect the latest census data on the Abbotsford area to get a better overall view of the characteristics of this area.

To learn more about census data, Google QUICKSTATS and enter your local area into the search engine.

For this assessment task, you are to consider the above scenario. Consider areas of your expertise, where you can provide benefit into a business environment. You will need to refer to this business in BSBSMB404A and BSBSMB402A units.

This assignment requires you to Profile the market.

Profiling the market consists of the following 4 Parts

Part 1 - Segment the market

  • Identify the criteria for use in segmenting your market
  • Identify and access sources of information for segmenting and profiling your market Segment your mar in accordance with your identified criteria
  • Review each market segment for its usefulness in terms of size, potential, distinctive needs, easy identification of members or distinctive media use patterns
  • Select the market segments that meet your marketing objectives

Part 2 - Identify your target market

  • Evaluate approaches to determine and describe the total market for your product or service
  • Define your target market in terms of consumers to be included as prospective clients
  • Use segment descriptors to describe the target market
  • Identify available strategic marketing options, and select targeting strategies that best met your requirements

Part 3 Profile your target audience

  • Describe your total market and selected segments in the form of a consumer profile
  • Identify the consumer characteristics in standard statistical terms
  • Use demographic and/or psychographic descriptions in your profile
  • Describe the consumer attitudes to products / services being offered
  • Ensure the profile meets your organization terms

Part 4 - Develop a positioning strategy

  • Identify available positioning strategies, and choose a strategy to meet marketing requirements and the consumer profile
  • Write a positioning implementation plan that contains several options

Assignment 2 - Questions

1. Describe 3 reasons to profile a market.

2. What is the difference between profiling and segmenting?

3. Describe 4 different ways to profile a market.

4. Describe the criteria for market segmentation

5. What are the market segmentation variables?

6. What are the benefits and limitations of mass marketing?

7. What is meant by product differentiation?

8. What is meant by product positioning?

9. What is meant by perceptual mapping?

10. How would you determine your segmenting criteria?

11. What is the difference between primary and secondary market information?

12. What would be your primary information sources for profiling your market?

13. What would be your secondary information sources for profiling your market?

14. What needs to be considered when selecting a Target Market Strategy?

15. What is a customer profile? Include an example in your response.

16. What is a USP?

17. Describe potential opportunities for differentiation for both a Product and a Service.

18. What is Image Position and how can it be achieved?

19. List SIX factors you should consider when determining your USP.

20. Describe the following principles

  • Equal Opportunity
  • Ethical Principles
  • Codes of Practice
  • Privacy Laws
  • Work Health & Safety (formerly Occupational Health and Sefty - What are employer rights and responsibilities?

21. Describe the Australian Marketing Institute's Code of Professional Conduct.

22. Describe the following statistical terms

  • Confidence interval
  • Data item
  • Data set
  • Distribution
  • Estimate
  • Frequency
  • Non-sampling error
  • Observation
  • Sampling error
  • Unit
  • Variables

Reference no: EM131684254

Questions Cloud

What is mental element required for depraved heart murder : Charged with second-degree murder, M.C.L. s 750.317; M.S.A. s 28.549, Daniel Lindley Thomas, (the defendant), was convicted by a jury of involuntary.
Describe the talent management program that led to success : Describe the talent management program that led to success for the company. Describe opportunities for improvement in the talent management planning process.
Potential costs and benefits of getting an mba : Given all the potential costs and benefits of getting an MBA, how can a breakeven analysis help you make the decision:
Summarize the prosecutions proposed jury instructions : Lavelle Hudson (the defendant) was convicted following a jury trial in the Circuit Court, Cook County, of first-degree murder under a felony murder theory.
Describe the criteria for market segmentation : BSBMKG401 - Profile the market Assignments. Describe 4 different ways to profile a market. Describe the criteria for market segmentation
What is an important challenge facing management of health : Reflecting on the focus and content of this course, what is an important challenge facing management of health care organizations today?
Discuss the specific issues in employment law : As the company embarks on a large recruitment campaign, discuss the specific issues in employment law that should be of concern to hiring managers.
Discuss activities involved in a one day onboarding program : Discuss the activities involved in a one day onboarding program for employee orientation including the following: A description of each training module.
Black beans ingredient : Black beans ingredient. Navigate to the threaded discussion below

Reviews

len1684254

10/18/2017 12:44:53 AM

This is a summative assessment, which requires each student to have adequate practice prior to undertaking this assessment. Time outside normal class time will need to be allocated to complete all assessment tasks, except the written test. You are to submit your assignment as a professional market profile for your potential business, covering all points mentioned above. This assessment task may be hand written or produced on a computer. A hard Copy needs to be provided to your assessor.

Write a Review

Marketing Management Questions & Answers

  Integrated marketing communication

Developing an IMC plan of Amazon that aims to create awareness and knowledge amongst Singaporean  consumers of the ethics involved in buying clothing made from Bangladeshi factories  .

  Multiple choice questions on e-commerce

The assignment in Computer Science or Information Technology is about multiple choice questions, particularly in e-commerce. Questions such as types of e-commerce websites, commercial websites, disintermediation, Platform for Piracy, the data that ca..

  Balanced scorecard for red lobster

The assignment in marketing is about Red Lobster, which is one US and Canada's most loved seafood restaurant. It has hundreds of outlets in US and Canada and it now wants to expand further. The approach adopted by Red Lobster has been discussed in fu..

  Marketing plan - marketing audit, swot and smart report

The assignment in marketing is about preparing a marketing plan. As part of marketing plan, the SWOT analysis, assessing the competitive position, identifying critical competitive issues, marketing objectives, strategy and actions have been suggested..

  Marketing plan

Marketing deals with preparing a marketing plan for either an existing product or a new product. Various aspects about launching a new product into the market are discussed ranging from the industry the product belongs to, goals and vision of the com..

  Yamato corporation analysis - harvard case study

Please refer to the PDF for the Case Study and questions.The case study from Harvard Business School is about Yamato Corporation, a parcel delivery company which provides door to door delivery in Japan.

  Marketing plan - create a new product

The assignment in marketing is about competitive analysis for a new product namely "heated insoles". These heated insoles can be put in shoes and they can protect the wearer's feet by keeping them warm during cold winters.

  Report on digital marketing strategy for a website

Promotion strategies of  the one's own developed website

  Integrated marketing campaign of mccafe

Integrated marketing campaign for McDonald's McCafe. McCafe has been launched in Canada. This is a case study which involves the use of digital marketing and social media marketing apart from regular marketing such as TV and radio. All these more are..

  New product development at adidas

In this paper, the researcher also determines the different kind of practices used by Adidas to manufacture shoes for its customers.

  Managing services in competitive environment

Services can be defined as separately identifiable, intangible activities which provide want-satisfaction when marketed to household consumers and/or industrial users.

  Prepare a marketing plan

A marketing plan is an essential tool for any marketer, providing direction for a brand, product or organization. A marketing plan describes the marketing environment, marketing objectives and marketing strategies.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd