Task For Assessment Three you are required to complete a target marketing exercise for the organisation that you work for or an organisation you are familiar with. Target marketing is the topic that you studied in Week 5, it is described and discussed in Chapter 6 of your text book, and it comprised the three sequential stages of market segmentation, market targeting and positioning. Please note: The organisation you choose for assessment three will be the organisation you MUST write about in assessment four so please read ahead to ensure you have made the correct choice before deciding on your organisation of choice. Part A – Segmentation Discuss the various ways an organisation can segment their audiences (i.e. using behavioural, demographics, geographic etc). Critique the relative advantages and disadvantages of each of the four segmentation variables. Support your response with various theoretical approaches used when segmenting consumer markets. Use at least two academic resources other than your text. Part A should be approximately 1300 words and is worth 15 marks Part B – Targeting Define a target market. Identify and describe a primary and secondary target market for your organisation. Please use the “consumer profile” template to help present your argument, using the heading of segmentation variables as identified above. Justify your decision based on the selection criteria (see page 205 of your text book Elliott, Rundle-Thiele & Waller, 2014). Part B should be approximately 800 words and is worth 9 marks Part C – Positioning Positioning (be sure to explain concepts with theory) a. Identify and explain how your organisation has been positioned. Create a perceptual map to help support your response (see resources folder for a template). Evaluate this position in the marketplace (i.e. positive/negative) b. make a recommendation for a new positioning statement. Explain why you made this recommendation by linking it back to your segmentation consumer profile Part C should be approximately 700 words and is worth 8 marks Referencing and communication skills are important and worth 3 marks. Online submission via Turnitin is required for this assignment. Details will be provided by your subject lecturer. Rationale This assessment is designed so that students will: be able to define and describe the complexity and diversity of markets and marketing’s response to it; be able to interpret and apply marketing concepts and models to the market place; be able to have skills in researching and communicating ideas about industries, markets and marketing strategy; and be able to analyse real-life business situations by comparing and contrasting the theoretical concepts in marketing theory Presentation Assessment Three is to be presented as a report.
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