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 from chapters 2, 4, 5 and 6 (are these in relation to the new or the old version of the book) of the text, 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: a. Growth b. Profitability c. Macro environment ( PESTLE factor) 2. Outline and examine the 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. Rationale This assessment assesses the following learning outcomes: •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. criteria Communication Skills This is about the presentation of the work including: Structure, Format, Grammar, including images Value 15% Theoretical analysis skills This criterion is about defining, describing and evaluating the concepts that were found when researching the topic Value 30% Application skills This criterion is about linking theory to a specific context, explaining how it relates to a product/company and making recommendations Value 40% Referencing Skills This criterion was about the application of APA6th referencing Value 15%
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