Write a report demonstrating how the marketing strategy of a Cruise ship company (e.g., P&O Cruises, Carnival etc.) would differ when targeting two different Roy Morgan lifestyle segments.
Specifically, pick a type of package cruise and pick two Roy Morgan segments (see pp.408-409 in text) for them to target. Then explain how the package cruise company's marketing strategy (i.e. positioning and marketing mix (4p's)) would need to differ for each of the segments (Roy Morgan) chosen, use theory and evidence to justify your choices.
In your answer you should choose a cruise ship compnay that you have experience with or admire and would like to work with in the future as the context for your discussion. If they have more than one product or service, please choose one to focus on.
This is a 5 step process
Step 1: Background
Identify the cruise ship company you have chosen and provide a brief description of the organisation, including the service/s they offer. (Use sources to support this description)
Step 2: Theory
Describe the Roy Morgan Lifestyle segmentation system. Discuss why lifestyles are a useful way to segment the market. Pick two Roy Morgan segments to target and briefly describe / profile each. (Use academic sources to provide evidence)
Step 3: Application
Describe the marketing strategy (i.e. positioning and marketing mix (4p's)) you would use to increase sales to each of the two segments you have chosen. You need to justify each of the choices that you make using theory. Also the choices should be consistent with the nature of the organisation
NB: Remember to link back to the original question (above)
Step 4: Sources and Referencing
You are expected to use at least 6 academic sources for this assignment
Create a reference list using APA 6th style Cover page
i. Table of contents
ii. Executive summary
1. Introduction
Remember here to focus on only one service/product if they offer multiple services/products.
Also, keep in mind this section is worth 15% of the marks for this assessment, so don't spend the whole time talking about the organisation.
It is important to reference the information you provide in this section.
2. Theory & Discussion
2.1. Roy Morgan segmentation system overview
What is this about? Read the academic material to see what they are saying about this concept.
2.2. Rationale as to why lifestyles are a good way to segment
Refer to the journals and state what they are saying. If so, how? Why?
Are there criticisms? Discuss...
2.3. Roy Morgan Segment 1
Who are they? What have you uncovered about them?
2.4. Roy Morgan Segment 2
Who are they? What have you uncovered about them?
3. Marketing to (Segment 1)
3.1. Product positioning
Discuss how the company would position the products to the consumers. A perceptual map would be good.
3.2. Marketing mix
3.2.1. Product
What product strategies would you use for them?
3.2.2. Price
What pricing strategies would appeal to them?
3.2.3. Promotion
How would you promote to them?
3.2.4. Place
Discuss the distribution strategy that you would recommend.
4. Marketing to (Segment 2)
4.1. Product positioning
Discuss how the company would position the products to the consumers. A perceptual map would be good.
4.2. Marketing mix
4.2.1. Product
What product strategies would you use for them?
4.2.2. Price
What pricing strategies would appeal to them?
4.2.3. Promotion
How would you promote to them?
4.2.4. Place
Discuss the distribution strategy that you would recommend.
5. Conclusion
6. ReferencesHello Everyone,
Hope you are well and I hope I have inspired you to start looking at cruise websites to narrow down your product that you wish to work on for A3.
Some additional points to consider:
It has to be a cruise company and make sure that Australians are able to purchase that product as you will be reviewing an Australian consumer. (So what this means is that you can select a cruise in Europe but you got to make sure that the Australian consumer will buy it. To be sure, take cruises like P&0 and Carnival Australia)
Think of a specific product, in this case, it would be the cruise point and destination (i.e. a 1 week Australia to New Zealand cruise)
Then, read Roy Morgan bits of your textbook, pgs. 408-409. I have attached that for you in the email in the event you could not obtain a copy of the text. Now, this is part of psychographic segmentation. There is not a lot of coverage in the lecture notes, so this would be a good starting point. I went through the VALS & Roy Morgan in the latter part of the lesson yesterday. VALS has an American focus but we will have to use the Roy Morgan because it has an Australian perspective and we need to refer to that because the consumer we are going to profile is an Australian. So would have the following segments to select from:
o Young optimism
o Socially aware
o Something better
o Visible achievement
o Look at me
o Conventional family life
o Traditional family life
o Real conservatism
o A fairer deal
o Basic needs
Think about which 2 segments from the Roy Morgan list would like to go on that cruise you have selected. Pick ones that are likely to go on cruises especially if your cruise is a high end one, make sure that the segment can afford it!
Now look at the structure that I have provided and complete the rest of the task. In summary, you need to make sure that you can recommend how you would market the cruise to the 2 segments selected using the 4Ps.
For the marketing strategies, You need to justify each of the choices that you make and support your choices through references to the theory (e.g. theory about the segment or the influence of lifestyles on decisions)
Also, it is important to keep the overall positioning of the organization in mind
Just a gentle reminder that your assessment is due on the 18th January which is not too far from today. Hope this helps and contact me directly if you need any further clarification. ([email protected])
Cheers for now and happy completing!