-
- QUESTION
- a) Describe the marketing concept
- b) Outline and apply the elements of the marketing
process.
- c) Identify and explain the macro and micro
environmental factors impacting the marketing of a
business or industry.
- d) Demonstrate an ability to incorporate new trends to
solve marketing problems and apply communication
skills.
Context
Congratulations! You are now in Stage 2 of your marketing plan.
It is time to show Mary, your marketing manager, that you know how to identify
appropriate target audience(s). Based on the same client from Stage 1, you are now
required to analyse the segments using suitable and relevant segmentation variables in
order to select the ideal target market for your client.
As part of the marketing process, you need to research different types of data using a
variety of sources to understand consumers’ needs, wants and relevant trends to make
informed marketing decisions.
In this stage, you also need to identify or suggest a positioning statement to the client,
which considers all the values and competitive advantages that need to be promoted to
consumers, as well as setting up its positioning map using competitors’ information already
collected in Stage 1.
Instructions- Stage 2
In Stage 2 of your marketing plan, the focus is on demonstrating an ability to incorporate
new trends from consumers’ behaviours and consumption patterns to create relevant
marketing strategies to solve potential issues that may affect the business.
Make sure you use the same client from Stage 1.
At this point, Stage 2, the marketing plan report must include:
- a) Cover page including:
- Company’s name
- Student Identifier (name and number)
iii. Subject code and name
- b) Table of contents
- c) Identification of consumer buyer characteristics including:
- Level of involvement of consumers that purchase the product/service;
- Situational, psychological and social influences on the buying decision
process.
iii. At least 08 (eight) segmentation variables in total using
demographics, geographics, psychographics and behavioural
elements.
- d) Creation of at least 01 (one) buyer persona using a template of your choice,
contemplating all the segmentation variables identified in the previous task
(point c) above).
- e) Inclusion of a positioning statement for the client highlighting the values and
benefits offered to consumers.
- f) Creation of a positioning map using the two main competitors identified in
Stage 1.
- g) Reference list using APA 6th ed. style.
Submission guidelines
The presentation recommended for this Assessment is REPORT FORMAT.
An executive summary is NOT required.
Use suitable headings and subheadings for the information presented, and page
numbers should appear on each page of the document – ideally in either the
header or footer.
The assessment should be submitted in a format that would be acceptable in the
business world. All assessments are to be submitted to Blackboard. All work must be
word-processed, spell-checked, grammatically acceptable, and professional in
appearance.
The assessment submission should include the Similarity Report from Turnitin.
Assessments should not be written from a 1st person context, but rather from the 3
rd
person perspective. That is, “I, we, my, our” are not acceptable.
All claims and recommendations are to be supported by suitable and relevant
marketing and/or theoretical principles and their relevant references.
The report should include a correctly constructed Reference List and accompanying intext citations as per University guidelines (APA 6
th ed. referencing style). Please see the
Academic Skills page on Blackboard for information on referencing in APA 6th ed.:
https://laureateau.blackboard.com/webapps/blackboard/content/listContent.jsp?course_id=_20163_1
&content_id=_2498847_1&mode=reset
The use of any combination of narrative, point form, diagrams, graphs or charts
including presenting the information in table form is permitted – particularly if these
devices reduce the wordiness and increase the “readability” of the submission.
Subject | Report Writing | Pages | 8 | Style | APA |
---|
Answer
Segmentation, Targeting, and Positioning
1.0 Consumer Analysis
1.1 Level of Consumer Involvement
The consumers that purchase the kid’s party offerings have various involvement characteristics as discussed below.
1.1.1 Target Buyers
The buyers of the service comprise of families, learning institutions and event organizers. The buyers participate in the purchasing process either directly or indirectly through third parties.
1.1.2 Rating and Comparing Service Offerings
Customers and prospective customers compare and rate particular service offerings in the market based on service costs and additional add-ons.
1.1.3 Purchasing platforms
Customers purchase kid’s party service offering by booking directly online or physically at any of the 13 locations across Sydney, Brisbane, and Melbourne.
1.2 Social, Psychological and Situational Influences on the Buying Decision Process
1.2.1 Quality and Convenience
Customers are looking for high-quality services that can conveniently meet their needs. In a leisure industry where competitors offer almost the same services, switching a brand is relatively easy. Therefore, better deals, quality service delivery, safety, and low cost are key to developing customer loyalty.
1.2.2 Service Location
Consumer purchasing decision is also influenced by the fact that the service is domestically situated. Most of the customers and potential customers live within the cities, and this makes it easier and convenient for them to attend to other commitments such as going to work and having time to organize and attend the best party for their kids.
1.2.3 Availability of Deals and Offers
Some customers like purchasing party services when there are deals and offers that allow them to have the best experience for lower budgets coverage.
1.2.4 Service Cost
Service cost is one of the most considered variables in the purchasing decision process (Erickson & Johansson, 2014). Consumers prefer best service delivery on affordable budgets; therefore, they tend to purchase where services are affordable. Offering cost is a significant variable because bowling alleys offer similar services.
1.2.5 Brand Loyalty and Reward Programs
Satisfied customers develop brand loyalty over the lifecycle the service and commit to repeated purchases of that particular service. However, brand loyalty only exists when customer expectations are met especially during the early stages of service offering (Oliver, 2014). The company offers reward programs and incentives such as free samples to develop brand loyalty.
2.0 Segmentation
Segmentation is the process of dividing the potential market into segments or groups based on certain characteristics (Weinstein, 2013). Members of these segments have similar futures since they contain consumers who similarly respond to marketing strategies. Segmentation is used because it enables marketers to be more efficient with their time and other marketing resources to achieve promotional goals. Marketers use segmentation to personalize their promotional campaigns. It is difficult financially to target each individual customer in the target market thus segmentation enables marketers to target a group as opposed to individuals making marketing campaigns more productive and less costly.
2.1Potential Market Segments
4-10-year-old male and female kids living in Victoria with their parents, School going kids from families of 4-10 people and celebrate their birthdays with family and friends. Parents earn approximately $45,000-75,000 annually.
10-16-year-old male and female kids living in Victoria with their parents, School going kids from families of 4-10 people and celebrate their birthdays with family and friends. Parents earn about $45,000-75,000 annually.
4-10-year-old male and female kids living in Queensland with their parents, School going kids from families of 4-10 people and celebrate their birthdays with family and friends. Parents earn approximately $40,000-70,000 annually.
10-16-year-old male and female kids living in Queensland with their parents, School going kids from families of 4-10 people and celebrate their birthdays with family and friends. Parents earn approximately $40,000-70,000 annually.
4-10-year-old male and female kids living in New South Wales with their parents, School going kids from families of 4-10 people and celebrate their birthdays with family and friends. Parents earn approximately $50,000-80,000 annually.
10-16-year-old male and female kids living in New South Wales with their parents, School going kids from families of 4-10 people and celebrate their birthdays with family and friends. Parents earn approximately $50,000-80,000 annually.
4-10-year-old male and female kids visiting Victoria, Queensland or New South Wales with their parents, for holidays or vacation and celebrates their birthdays with their parents and friends.
10-16-year-old male and female kids visiting Victoria, Queensland or New South Wales with their parents, for holidays or vacation and celebrates their birthdays with their parents and friends.
3.0 Targeting
Targeting is the process of selecting a segment or a series of segments and concentrating promotional efforts and resources on those segments whose needs best match the service offering (Cravens & Piercy, 2013). Targeting is used because it impacts customer experience as well as service promotion. Marketers use targeting to channel marketing resources to most productive market segments.
The most profitable for Strike Bowling’s kid’s party service offering would be 4-10-year-old male and female kids living in New South Wales with their parents for the following reasons:
- The segment contains the 1.43 million customers making it a substantial unit.
- Most households in New South Wales earn adequate income thus they can afford the service offering.
- The segment is sensitive to the service offering, so the demand is likely to be high.
3.1 Description of the Target Segment
3.1.1 Geographic/Demographic
The target kid is a junior, aged 4-10 and living with his or her parents in the State of New South Wales. The kid is attending a good school and has good grades but like most kids in the same age bracket, birthday celebration to them is a necessity. The kid lives in the city residential district such as Chatswood Sydney. The parents earn an adequate income to support the family so booking a kid’s birthday party package is not a problem.
3.1.2 Psychographic
Determined and competitive, they work hard in school to meet their parents’ expectations. Although they are young, they are aware of the values of education and excellent performance. They go to school on weekdays and participate in leisure activities during the weekend. On their birthdays they prefer to celebrate with their friends and family.
3.1.3 Behavioral
Kid’s party offering by Strike Bowling is an unforgettable experience and the kids will be expecting is the best games and party experience with friends and family. With packaging comprising of games, food and drinks, party host, party room and gifts, the kids’ expectations will be met, and they will remain loyal to the brand.
4.0 Positioning Statement
‘To parents, planning a party for their kid with intentions of making it better than the last one, Strike Bowling organizes unique service offerings every year to suit your needs for small budget Coverage.’
5.0 Positioning Map
The map below indicates consumer perception of the service offering compared to those of Zone Bowling Australia and King Pin Bowling Australia.
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References
Cravens, D. W., & Piercy, N. (2013). Strategic marketing (Vol. 7). New York, NY: McGraw-Hill. Erickson, G.M., and Johansson, J.K., 2014. The role of price in multi-attribute product evaluations. Journal of consumer research, 12(2), pp.195-199. Oliver, R. L. (2014). Satisfaction: A Behavioral Perspective on the Consumer: A Behavioral Perspective on the Consumer. Routledge. Strike Bowling Bar Australia, 2018. Website. [Online]Available at https://www.strikebowling.com.au/about#top Weinstein, A. (2013). Handbook of market segmentation: Strategic targeting for business and technology firms. Routledge.
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