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Describe the total market and selected market segments in the form of a consumer profile

Describe consumer attitudes to products or services being offered

 

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SKU: wufo78

1. Segment the market

Performance Criteria:

1.1.Identify criteria for use in segmenting the market in accordance with the marketing plan

1.2.Identify and access sources of information for segmenting and profiling markets in accordance with the marketing plan

1.3.Segment the market in accordance with identified criteria

1.4.Review market segments for their usefulness in terms of factors such as their size, potential, distinctive needs, easy identification of members or distinctive media use patterns

1.5.Select market segments to meet marketing objectives, and choose and apply new segmentation criteria if require

 

2. Identify the target market

Performance Criteria:

2.1.Evaluate approaches to determining and describing the total market for a product or service

2.2.Define the target market in terms of the consumers to be included as prospective users of a product or service, and the selected market segments

2.3.Use segment descriptors to describe the target market

2.4.Identify available strategic marketing options and select targeting strategies that best meet the requirements of the marketing plan

 

3. Profile the target audience

Performance Criteria:

3.1.Describe the total market and selected market segments in the form of a consumer profile

3.2.Identify consumer characteristics in standard statistical terms and/or the descriptive terms used in media selection in the consumer profile

3.3.Use demographic and/or psychographic descriptions in the consumer profile in accordance with the requirements of the marketing plan

3.4.Describe consumer attitudes to products or services being offered

3.5.Ensure profile meets organisational requirements in terms of language, format, content and level of detail

 

4. Develop a positioning strategy

Performance Criteria:

4.1.Identify available positioning strategies and choose a strategy to meet marketing requirements and consumer profile

4.2.Write a positioning implementation plan containing several options, in accordance with organisational requirements

4.3.Submit plan to supervisor within specified time lines and make appropriate adjustments based on feedback

 

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