MKT1001: Product and Organisation - Competitive Environment - Marketing Assignment Help

Assignment Task:

Task 1: Product and Organisation

Product

In this section, you need to describe the product.  However, your selected product is one item, and possibly one item of many with the same brand name and name (e.g. Nestle, Uncle Tobys, oats).  Therefore it is not good enough to say for example Coca Cola, as this product comes in many forms such as a range of bottle sizes, a variety of flavours and in some cases only as a syrup as those served in fast food outlets and hotels.  So, for this part of Task 1, you need to be very precise such as, a 600 ml plastic bottle of Coke Zero, priced at $2.80 (use the regular price for the product not a discounted price special).

Task 2: Competitive environment

With this task the intent is to understand what other products in the chosen marketplace compete with your selected product. In addition to describing the direct competitors, you should also consider the overall competitiveness in the market and if there is anything significant to note about the market such as predominate brands, high or low brand loyalty and any environmental factors impacting the industry.

Task 3: Segmentation and Target market description

In Moodle book 1, we define a market segment as - individuals, groups or organisations with one or more similar characteristics that cause them to have similar product needs. 

As marketers, we need to segment the market of all possible users of the product we have selected and target one segment.  We do this for many reasons, but it basically boils down to the fact that the organisation cannot service all markets.

In this section, you are required to look at your product, and segment the marketplace for the product.  In Moodle book 1 (Figure 1.8) you are exposed to the six-step segmentation process.  Step six of this process will be addressed in Assessment 3.  For this assignment, you will need to select one target market only. The segmentation example in Moodle book 1 demonstrates the process with 3 possible segments (Step 4 of the process). Do not be confused by this, as you are required to select one target market only when you describe the specific group in the table below (Step 5 of the process). The segmentation example demonstrates the process an organisation would go through typically and includes a lot of variables, you are required to choose 3 most relevant variables from the 4 bases (geographic, demographic, behavioural or psychographic). You should ensure the variables are relevant for your product.

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