Markets segments and decision making
Task:
The next stage of the marketing audit is for you to consider the market for your organization and evaluate the opportunities and threats that exist for your chosen organization. NB: if you have a number of markets it is a good idea to focus on just one.
Incorporating theoretical concepts into your discussion from chapter 2, 4, 5 and 6 (are these in relation to the new of the old version of the book) of the text, and with the use of other theoretical sources and secondary research, please discuss the following:
1. Briefly describe the industry market for your organization and evaluate current trends in:
a. Growth
b. Probability
c. Macro environment (PESTLE factor)
2 .Outline and examine the major market segments for your organization and identify your primary, and secondary target markets.
3. Discuss the level of involvement your primary segment is likely to have towards your organization in terms of the decision making.
4. Describe the nature of competition in your industry. Explain and analyze your organization place in the market by comparing and contrasting its strengths and weakness to your main competitor.
5. Taking into consideration the primary segment, their level of involvement and the competition, create a positioning map for the market place.