Grand Total /100Discovering Marketing (MKTG 1000)Individual Assignment Student Name Bonead YashillStudent ID 19039433Tutor Michael PompeiaTutorial Time Thursday 11:00 – 12:30Word Count This assignment is an application-based assignment that is designed to test your understanding of marketing concepts (mainly chapters 4, 6, and 8). You will need to answer all the questions and provide justification for your answers. You will be marked on your ability to apply marketing concepts and discuss your answers in a coherent and logical manner. By the end of this assignment you will be able to:Apply market segmentation to a real-life brand or product;Develop an appreciation of the rationale underlying marketing strategies;Formulate recommendations for real life marketing problemsSubmission:One softcopy MUST be submitted via TURNITIN link.
Use the assignment template Formatting: Font size: 12 pt | Spacing: 1.5 pts | Font: Times New Roman/CalibriDeadline: Week 5 (30 March 2018) Friday by 4pm according to the submission guidelines above.Your assignment will be marked using the following marking guide:Question 1 (Total: 60 marks) This is an application question. When discussing the answers, please ensure you relate your answers to the advertisement and not your general perception of the brand.
You will need to link to the symbols, the visuals, and characters (and so on) that you can see in the ad. Please do not make up imaginary claims which are NOT reflected directly in the Ad. Question 1A (word count: 800 words – 10% over is allowed)Choose ONE print advertisement for ONE product of your choice (e.g. Diet Coke). Discuss and explain the purpose of segmentation. Using the five bases of segmentation, identify which THREE bases of segmentation have been utilized in the ad. Define each of the segmentation bases you have selected.
Justify the segmentation bases you have identified by critically analysing the symbols, images, words and content of your print ad to determine/describe the target market.** Use at least 3 academic references to support your answer (30 marks) Marks AllocatedDiscuss the purpose of segmentation. /3Selected segmentation bases are clearly defined and explained /6Referencing (3 required) /6(Example 1) Ability to analyse symbols, images, words and content used in AD to support the type of segmentation /5(Example 2) Ability to analyse symbols, images, words and content used in AD to support the type of segmentation /5(Example 3) Ability to analyse symbols, images, words and content used in AD to support the type of segmentation /5Total Marks for Question 1A /30Question 1B (word count: 800 words – 10% over is allowed)Choose TWO product categories (e.
g. ice cream). Explain what is positioning? Plot TWO perceptual maps using the positioning bases outlined in the textbook. Each perceptual map should have at least FIVE different brands on it. Based on the two perceptual maps, how do marketers formulate strategies to position their brands competitively in the market? Why do you think positioning is important? What suggestion would you have for brands who in your opinion is weaker in the market?** Use at least 2 academic references to support your answer (30 marks) Marks AllocatedPositioning is clearly defined and explained. /4Perceptual map 1 /6Perceptual map 2 /6Based on the two perceptual maps, how do marketers formulate strategies to position their brands competitively in the market? Why do you think positioning is important? What suggestion would you have for brands who in your opinion is weaker in the market? /10Referencing (2 required) /4Total Marks for Question 1B /30Total marks for Question 1 /60IMPORTANT INSTRUCTIONS for Q1: Use academic references for each question.
Textbooks are not considered as an academic reference. Academic journal articles will be the source of academic reference. Refer to the Curtin Library website for the academic databases. Examples would be ProQuest, Science Direct, Emerald, etc. Your print advertisement needs to be an official manufacturer/brand generated advertisement. (You can refer to: adsoftheworld.com, and such websites to search for RELEVANT ads).
DO NOT use your own definition for what constitutes a Print AD, if you are unsure ask your tutor – this will be covered in tutorials. Videos are NOT acceptable. They should strictly be in PRINT form (e.g.
publishable in magazines, newspapers). You will receive 0 for Question 1 by using videos to answer the question.DO NOT use any Ads shown in tutorial. Failure to adhere to this will result in 0 marks for Question 1. Question 2 (Total: 40 marks) This is an application question. When discussing the answers, please ensure you apply the marketing concepts you learnt in the unit. In addition, it is encouraged that you research using databases available via Curtin Library.
Question 2 (word count: 1000 words – 10% over is allowed) – You can choose to either complete Question 2 or the Lab exercise.Perception is an important part of consumer decision making. Define perception (use academic references – not your textbook). How do you think consumers perceive products with “organic” labels? Do you think it increases or decreases the value of the product? Do you think it is an effective marketing strategy to use organic labels? Provide TWO examples of effective use of “organic” labelling for products. Marks AllocatedDefine perception – (textbook definition will not be given marks – use other academic resources) /4Do you think it increases or decreases the value of the product? Justify your answer. /10Do you think it is an effective marketing strategy to use organic labels? Justify your answer. /10Provide TWO examples of effective use of “organic” labelling for products.
Discuss why they are effective. /10Referencing (3 required) /6Total /40IMPORTANT INSTRUCTIONS for Q2:Use academic references for each question. Textbooks are not considered as an academic reference.
Academic journal articles will be the source of academic reference. Refer to the Curtin Library website for the academic databases. Examples would be ProQuest, Science Direct, Emerald, etc. Word Count for Q2: 1000 words. (10% over is allowed)Ensure you map all the brands listed on all 3 perceptual maps. Failure to map all the listed brands across all perceptual maps will result in marks being deducted.
Question 1AChoose ONE print advertisement for ONE product of your choice (e.g. Diet Coke).
Discuss and explain the purpose of segmentation. Using the five bases of segmentation, identify which THREE bases of segmentation have been utilized in the ad. Define each of the segmentation bases you have selected. Justify the segmentation bases you have identified by critically analysing the symbols, images, words and content of your print ad to determine/describe the target market.** Use at least 3 academic references to support your answer (30 marks)Market segmentation involves with identifying the different variables which are more likely to affect different markets.
For this to be effective the producer should first break down the market into different parts. After breaking this market into various pieces, the seller will then be able to target the product to the desired markets, and according to the market research, the seller shall be able to design products to the chosen consumers. However, this strategy can only be applicable if the buyer’s behaviors towards the products are predictable.
Factors to be considered when presenting a product to the targeted market are: the pricing for the goods and strategies of communication, as in which specific mode of advertisement will affect the targeted consumers.Market segmentation refers to the study of the style of a market as viewed by consumers. The motive behind those investigations are as followed:- (i) to find out the impact the products cause towards consumers. – (ii) to find out which degree similarities and competitions exists amongst goods.
– (iii) To find out to which depth the existing products on the market are satisfying to the consumers.- (iv) To use the information acquired to indicate profitable marketing as well as product options.Market segmentation is established on the belief that clients exhibit heterogeneous preferences and buying conducts. This heterogeneity can generally be defined through variations in product and buyer’s characteristics. Making usage of a segmentation approach allows enterprises to deal with this diversity through focusing resources on specific purchaser groups. Market segmentation additionally affords the strategic foundation for other advertising choices.
Consequently, it has the capacity to helps other agencies fine- tune their clients offerings and competition openings as well as assisting the method of useful resource allocation and strategic planning.Geographic Segmentation Geographic segmentation is when a market is segmented geographically whereby, the needs of the consumers or the manners to achieve those needs, differs geographically.This differs by country regions, population density or climate.Demographic Segmentation This is based on scales of measurement known as demographic variables. It comprises of age, gender, income, ethnic background and family life cycle. Psychographic Segmentation Market segmentation based on personality, motives, lifestyles, and geodemographics.Benefit Segmentation This refers to the benefits gained from a product which are used to classify customers into market segments.
Usage Rate Segmentation This divides the market based on the quantity of products being bought or consumed.It comprises also of the 80/20 principle where it is stated that for 20 percent of all customers promotes 80 percent of the demand. Burger king’s market constitutes of buyers, and buyers varies between a single or several bases. The main 3 bases of segmentation are demographic, psychographic. Demographic segmentationThe franchise main targets are the young adult markets. Young boys and girls who are looking for a good price tag along with quantity of food. They are attracted with the size of the burger, which is of 7 inches and supplements which are, one medium fries and one medium Coca-Cola. Those youngsters, who are still in their growing stage tends to eat a lot and therefore, the amount of food and the price will suit this targeted audience.
Psychographic segmentationPsychographic Segmentation – The advertising demonstrates a bare neck girl with short blond hair and red lipstick staring in astonishment at the burger emerging in her mouth. The targeted audience for this base of segmentation is to gain attention of people having the traits of being a good eater of burgers filled with mouth-watering meat, cheese, and mayonnaise. The reason behind why stands the blond girl in this specific ad is mainly because Burger King wants to grab the attention of male consumers by showing a young and attractive looking woman about to eat a burger of seven inches. In general, this shows that men also want to be able to enjoy the burger similarly as women although women are more weight conscious rather than men. This model of advertising will genuinely attract male consumers, and they will eventually try it out, thus opening more windows for further male consumers by talking about how satisfying of a deal the burger is.Usage Rate SegmentationThis model of advertising will genuinely attract male consumers, and they will eventually try it out, thus opening more windows for further male consumers to give it a try by talking about how satisfying of a deal the burger is from the first comers.
Question 1BChoose TWO product categories (e.g. ice cream). Explain what is positioning? Plot TWO perceptual maps using the positioning bases outlined in the textbook. Each perceptual map should have at least FIVE different brands on it. Based on the two perceptual maps, how do marketers formulate strategies to position their brands competitively in the market? Why do you think positioning is important? What suggestion would you have for brands who in your opinion is weaker in the market?** Use at least 2 academic references to support your answer (30 marks)PositioningThe purpose of positioning is to attract probable customers, a brand, product line or company by creating a unique marketing mix. Based on the perception of the targeted customers, positioning of a product is the point where the product lies in a specific market. The positioning of a good is: the total of those attributes usually ascribed to it by the buyers.
It’s nature, it’s classification, the form of individuals who use it, it’s pros, it’s cons, any other uncommon or memorable traits it may process, it’s price and the value it symbolises.Organizations must choose how and where in targeted segments to aim an item or items, brand or brands. To position effectively, the needs and wants of the clients should be addressed by looking into the product, price, promotion and distribution.
Positions are defined with the aids of variables and inside parameters which might be a matter of consideration to the clients, and which are essentially selected by themselves. Costs might be the main concern in grocery shopping, Service standards in deciding on a hotel, fine and reliability while purchasing an electrical appliance including a showering gadget, fair deal when opting for which park to go to.For effective positioning, we need to firstly analyse the positions of the competing products. Secondly, the dimensions underlying these positions should be reviewed. Lastly, a market position is chosen based on where the marketing effort causes the greatest impression.Product differentiation is a positioning technique used to differentiate goods of a firm from other competitors.
Perceptual mapping is a method used to view or graph in more than one dimensions the position of products, brands or groups of products in the mind of the clients.Positioning bases consists of; attribute, price and quality, use or application, product user, product class, competitor and emotion.High Price*Rolls RoycePerceptual map 1*Aston Martin*Subaru29527503937000High quality*Mitsubishi*Ferrari*MercedesLow quality9810759016900*Nissan*Mazda*Toyota*Maruti*HondaLow PriceHigh in caffeine*TaB*Coca-ColaPerceptual map 2296227420955000*Diet Sunkist orange soda*PepsiHigh in sugarLow in sugarLow in caffeine*Coke cherry*Mountain Dew*Diet Pepsi97155093599000Based on the two perceptual maps, how do marketers formulate strategies to position their brands competitively in the market?Brand positioning is defined as how a brand is positioned in the mind of their customers. To be able to have a positive influence on their customers, a positioning strategy is implemented. To position effectively, marketers of the various brands mentioned into the perceptual maps of cars and perceptual maps of fizzy drinks formulate strategies by following these seven steps;Figure out how the brand is at present positioning itselfSpot the direct competitorsKnow how each competitor are positioning their brandsFind out about their own position by evaluating and comparing their position towards their competitors to determine their uniqueness.Develop a unique positioning ideaMake a brand positioning statementTest the usefulness of the positioning statementWhy do you think positioning is important?In perceptual map 1, the way these cars are positioned is based on how marketers of the car brands is positioning their brands to establish an image of their entity.
This will attract the targeted audience, who will choose to buy the cars based on their needs and wants, their financial position or their class. Perceptual map 2 is important for the people buying fizzy drinks. The positioning is related to the amount of caffeine and the sugar level. It is aimed to build customer awareness of the content in which these drinks are made of, the ones more caring for caffeine and high sugar level will aim for Coca-Cola and Pepsi brands whereas the ones who fancies lower sugar level and caffeine will choose a drink such as Diet Pepsi.What suggestion would you have for brands who in your opinion is weaker in the market?If we look in perceptual map 1 for cars, we can deduce that in the lower left quadrant lies the 3 weaker cars in the map, that is, Toyota, Nissan and Maruti. Several initiatives must be put forward to improve the brand’s performance in the competitive market. The marketing strategies should be implemented.
For example, the weaker car brands should use advertisement to promote their brands to attract probable customers. This can be done through social media, television, radios and newspapers. They should not afford losing customers because the cost of losing customers is higher than the cost of finding new ones. To be stronger, the 3 weaker brands should raise the quality of their products, build trust, avoid unrealistic prices, tell the truth to their customers and most importantly, show commitment which will build customer trust. In perceptual map 2 of fizzy drinks, the marketers of Mountain Dew and Diet Orange Sunkist Soda are weaker compared to Coca-Cola and Pepsi who have a higher number of customers. The main strategy for the weaker brands will be to use relationship marketing.
Meaning that they should be effective to create bonds between customers. Also, marketers should be able to anticipate customers wants through research and development to be stronger in the market. As a marketeer of the mountain dew and diet orange Sunkist soda, knowing the behaviour of consumers is beneficial to influence their purchase decision. This will influence the brands to put forward initiatives to attract potential customers and increase the brands profitability.References Question 1AQuestion 2Perception is an important part of consumer decision making. Define perception (use academic references – not your textbook). How do you think consumers perceive products with “organic” labels? Do you think it increases or decreases the value of the product? Do you think it is an effective marketing strategy to use organic labels? Provide TWO examples of effective use of “organic” labelling for products.
** Use at least 3 academic references to support your answers. (40 marks)References Question 2
