Task
For Assessment Three you are required to complete a target marketing exercise for the organisation that was the subject of your situation analysis in Assessment Two. 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.
Before you undertake this assessment you should have completed the market segmentation, targeting and positioning topic and you should have studied Chapter 6 of your text book. Assessment Three has three parts; they being Part A, Part B and Part C. You are required to complete them as below.
Part A: Discuss market segmentation theories. In your discussion you should refer to the various theoretical ways an organisation can segment their audiences and critique the relative advantages and disadvantages of these theoretical approaches.
Part A should be approximately 1200 words
Part B: On the basis of what you have written in Part A, evaluate the market segment opportunities and then identify and describe a primary and secondary target market for your organisation. Justify your choices on the basis of the selection criteria that you have used.
Part B should be approximately 800 words
Part A and B is worth 18 marks in total
Part C: On the basis of what you have written in Part A and Part B develop a positioning for either your chosen organisation, or one of that organisation's products or services. Describe your chosen positioning and discuss its relevance to your chosen organisation/product/service and your selected target market or markets.
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