Analyse this offering in terms of the consumer decision-making process and the factors that influence this process. The analysis should include the following things:
1. Provide a profile of the likely target customer segments for the product. The segmentation bases discussed on the course should be employed to achieve this and students are encouraged to think about their proposed target group/s in terms of multiple and/or hybrid segmentation approaches. IE: you will need to tell us which variables are combined together to achieve successful segmentation in the formof hybrid segmentation. You will be expected to provide evidence and logical justification for the bases you have selected and should discuss their proposals in terms of viable segmentation criteria.
2. Analyse thetargeting strategy which is beingapplied to your chosen segments. Discuss the use of media platforms and their effectiveness. Please make recommendations on how the company’s targeting efforts could be improved.
3. Draw a perceptual map plotting the perceived positioning of your chosen product against competitors. Student’s will gain higher marks for this section if the drawn axes are original and are well-justified. Explain the significance of the plotted brands in terms of potential future direction for the brand.
4. Suggest a typical chronological buying process or customer journeyfor this product and discuss the likely internal psychological influences that may be linked to this process such as personality, motivation and perception. These would also include probable customer involvement levels and risk perceptions. You should look at the external factors that may influence customers to purchase this product such as different types of reference groups and the wider range of socio-cultural influences such as class and culture.
You will be expected to argue your case logically and provide evidence where possible to support your ideas.
Extra Guidance notes
1. This is to be presented in a report format with title, objectives,introduction, findings, conclusions and recommendations.
2. The 3000 words exclude references and bibliography. Please include the references clearly (there should be at least 10 valid references including material from the net which you are encouraged to use). Please type 1.5 line spacing, this makes the work easier to read and mark.
3. You will be primarily assessed on how well you can apply and use the theories learned on the module to the product or service you have chosen. At master’s level you are expected to be creative in your approach and not be merely descriptive in your writing style. This centres upon the quality of your analysis and evaluation in this context. Good reports will argue why you think something is the case rather than rely on simple description. Marks will also be awarded for how the research has been logically presented and the points clearly made and explained. In summary, you will be assessed on how well the brief was addressed taking into consideration the analytical quality of the written presentation, its overall structure and the development of a suitable conclusion.
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