MMK101 Marketing Fundamentals|Differentiation

MMK101 Marketing Fundamentals|Differentiation
Workbook 2 mirror what’s required in this assessment hence it is imperative for you to do it in-class, guided by your lecturer. 
Workbook 2 will prepare you for some background analysis of the company that will be useful for you to justify your points in your A1. It will show you step-by-step process of how to do STDP in marketing. 
You need to submit Workbook 2 online on Moodle.
Background
Please provide a fully referenced background to this report that includes:
 An industry overview (min. 1 reference) 
Brief description of (min. 1 reference):
the company 
the competitors 
their current products their current target markets  
VERY IMPORTANT – TWO TO THREE SENTENCES ON WHAT IS YOUR NEW PRODUCT AND WHY YOU THINK IT IS A GOOD IDEA
Hint: Workbook 2
Market Segmentation 
Please provide a fully referenced overview of the segmentation bases that could be used by the company in segmenting the market to identify a potential NEW MARKET/PRODUCT. Please note: 
Provide two (2) appropriate new market segments for the company to be used as potential target market and do not forget to label them correctly. 
Provide a justification of why they are potential target market  Provide at least two (2) segmentation variables for each base
Use a segmentation table to present these information
Make sure that your new segments are in consumer market, NOT business market 
The segments MUST be in AUSTRALIA (geographic segmentation base), NOT overseas
Hint: Workbook 2B
Market Targeting and Consumer Profile 
From the two (2) new segments identified in Section 2, choose one (1) target market that would be best for the company and provide a fully referenced justification of why the company has to choose such target market. Please note:
Choose only ONE (1) new target market and justify why they should be the new target market for the company. 
HINT: Include the three (3) factors to consider when choosing a target market (Lecture 3)
Provide a detailed consumer profile for the target market that you have chosen using the segmentation variables that you have discussed in Section 2
More hint: Workbook 2B
Differentiation and Positioning 
Considering the target market that you have selected and discuss how you would differentiate and position the company in the new target market’s minds (fully referenced). Please note: 
Suggest a new value proposition that will be relevant to the new target market and justify this 
Consider the five (5) differentiation bases and justify the most appropriate ones (please pick only two) to discuss
Provide a positioning statement 
Illustrate where the company should be positioned against the competitors mentioned in Section 1 on a positioning map
Hint: Workbook 2B

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