MKT 503 Clients & Markets Homework- Charles Darwin University
Description/Focus:
Profiling market / client characteristics, including segmentation & targeting from a buyer behaviour perspective.
Length: 2500 Words.
General focus
The homeworks for Clients & Markets involve a real life case study, which will enable you to apply your newly acquired understanding of marketing and customer behaviour to the development of appropriate marketing strategies and marketing initiatives, in both business to consumer (B2C) and business to business (B2B) contexts.
Company focus
NB. The company selected for your homeworks in this unit will be presented to you in the face to face and online classes.
The selected company offers a particularly relevant and interesting case study, not least since its promotion involves significant B2C and B2B marketing activities that target consumers, as well as businesses.
You won't find the answer on the web and you will need to engage with the unit in order to do well in your homework.
Homework description
In the early weeks of this unit you will be introduced to the customer oriented market segmentation, targeting and positioning process, as well as relevant models of buyer behaviour and related concepts.
Homework 1 requires you to initially identify and evaluate the range of potential B2C and B2B customer segments that make up the selected company's market.
Having described these you then pick one specific niche B2C, as well as one specific niche B2B segment, for targeting and provide rationale for your selections, as well as insights into the buyer behavior dimensions that should be considered in subsequent marketing mix planning stages.
Note that homework 1 involves marketing segmentation and targeting stages only. Positioning forms the focus of homework 2, in which you provide in depth analysis of the behaviour of the chosen target market segments and appropriate marketing mix recommendations.
Specific homework tasks
This homework requires you to complete several tasks:
Segmentation & targeting (approx. 350 words)
1) Briefly describe the customer oriented segmentation and targeting process, acknowledging its relevance to B2C and B2B marketing.
Segment evaluation (approx. 1000 words - 500 words on B2C & 500 words on B2B)
2) Identify and describe company's market, acknowledging the various existing and potential B2C and B2B customer segments in terms of ‘typical' market segmentation dimensions (e.g., behavioural, psychographic and profile data for consumer markets, and in terms of micro and macro segments for organisations).
B2C target (approx. 500 words)
3) Identify and describe the specific B2C niche customer segment for the company marketing team to focus on.
4) Explain the rationale for its selections in terms of distinctiveness / size / accessibility / stability / match with the company strategic orientation.
5) Outline the buyer behaviour concepts and theories* relevant for further investigation (you will apply these in homework 2) to ensure an effective buyer behaviour focused marketing mix can be developed.
B2B target (approx. 500 words)
6) Identify and describe a specific B2B niche segment for the company marketing team to focus on.
7) Explain the rationale for its selections in terms of distinctiveness / size / accessibility / stability / match with the company strategic orientation.
8) Outline the buyer behaviour concepts and theories* relevant for further investigation (you will apply these in detail in homework 2) to ensure an effective buyer behaviour focused marketing mix can be developed.
*Relevant concepts and theories include:
o Stages in decision making process
o Level of involvement
o Decision making unit
o Aspects of psychology theory (Perception, Learning and memory, Personality and self-concept, Motivation & needs, Attitudes, Group and peer influences)
Positioning & customer behaviour (approx. 150 words)
9) Acknowledge the importance of understanding customer behaviour to the positioning stage of the STP process. This section sets up the tasks you will complete in homework 2.
Format your homework according to the following formatting requirements:
(1) The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
(2) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
(3) Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.