Situation Analysis & Segmentation Paper
Targeting and Positioning (STP)
Details(important):
This assessment is based on an online marketing simulation – MyMarketingExperience( https://rmit.instructure.com/courses/77444/pages/welcome-to-your-online-simulation-mymarketing-experience ).
It is designed to prepare students for the decisions that have to be taken to complete the simulation game and successfully market their product (i.e., jeans). As part of this assignment, students will expand on the alternative strategies that could be adopted as well as their advantages and disadvantages.
This second assessment task is an individual assessment. It is based on your decisions, KPIs and performance in Quarters 1, 2, and 3 and involves two parts:
- A situation analysis: based on the research, market share, and market information provided by the simulation which are relevant to your industry (i.e., jeanswear industry) and the existing market share, students are to provide a critical discussion of the external situation analysis at multiple levels such as industry, product category, product segment and sub-segments, and brand. Students will be expected to use models and theories/concepts learnt during modules, and make informed judgements based on the information provided through the simulation to arrive at the performance of product level.
- A STP and company strategic direction: build your understanding of the market, and start the process of planning the long term direction for the brand. This includes segmenting the market (five to six segments), profiling and targeting two segments, and identifying the customer journey. Further, students are required to evaluate the position of the brand and its competing brands in the market and determine the most appropriate strategies that will provide a competitive advantage for your brand.
To complete this stage of the marketing plan, students will apply various marketing models as highlighted throughout the course website, and as determined by you in order to satisfy the assessment requirements.
Assessment criteria
All work must be professionally presented (in word or PDF format. The work must be referenced throughout and contain a reference list. Correct application and use of an appendix are expected – for example, all detail supporting statements must be shown in the appendix and correctly signposted within the body of the presentation.