Your project entails an analysis of a consumer product company of your choice, its target market, and the decision process used by its customers. You must have approval from your tutor about the choice of the organisation. It can be a multi-national company or a small local company. Once you have considered the assignment requirements, take care to select an organisation for evaluation that will enable a comprehensive quality response. You may need to do some research into evaluation options.
Part A – Introduction
a. Who founded the company, a brief historical sketch of the company and a description of the company’s current status.
b. Describe the company’s principal product (or products) in terms of features and benefits as well as anything else that is important (e.g. unique product design, colour differentiation).
c. Has the product gone through any modification/improvements or have line extensions been added?
c. In what stage of the product life cycle is the product currently? Give evidence such as trends in sales and profits, the nature of competition and the types of marketing strategies.
Part B – Identification of target market(s)
a. Who is (are) the primary target market(s) for this product? Describe these markets in terms of demographics, psychographics and/or buyer behaviour (benefits sought, usage occasion, deal proneness, heavy usage etc). Do the same if there is a secondary target market.
b. Are there any potential core or secondary market segments you would recommend for this product? Describe these segments in terms of demographics and/or behavioural segmentation bases.
c. What are the implications of these factors on the present marketing mix (4Ps) strategy.
Part C – Consumer decision making processes
a. The establishment of the consumers’ perception.
b. The consumers’ comprehension of the organisation’s message and of the brand.
c. The consumers’ motivation, attitude, anticipated returns from consumption of the product or service.
d. Any group influence and/or social stratification associated with the products being assessed by analysis of the broader promotion campaign (if that is known).
e. The decision process from identification of need to product/service selection.
f. What role does the advertising play in AIDA (Attention, Interest, Desire, Action) and how/why?
g. Do the organisation’s advertisements illustrate respect for consumers.
h. Is consumer satisfaction an apparent goal of their campaign.
i. Do any demographic and/or culture factors play a role in the campaign? Should they?
Part D – Recommendations for the organisation
It is important to make recommendation that result from your investigation above. Cover each of the sub-sections suggested (see below) plus any others that you find appropriate. If no changes are suggested on any of the following areas, explain why the company’s current strategy will probably be ‘on target’ in the future.
a. Target market and/or positioning changes
b. Product decisions
c. Pricing decisions
d. Distribution decisions
e. Promotion decision
5 minute Oral Presentation supported by appropriate visual aids. Number of slides: A minimum of 8 slides – a maximum of 12 slides All group members are required to present. Optimize the oral presentation grade, not by retelling the written report but:
1. Focus on presenting conclusions drawn from the group’ analysis
2. Provide reasoning and evidence for those conclusions
3. Present recommendations with your consumer behaviour-based advice to the marketer’s mix strategies from your report findings.
Demonstrate positive verbal and non-verbal communication skills.
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