Market Segmentation for Marketing Plan

Situational Analysis and Segmentation for Marketing Plan Development

Market Analysis

1.Carry out a Situational Analysis of the UK market for your chosen business. This should include researching the company’s customers, products & markets and conducting SWOT, PEST & competitive analyses.

2.Based on your research, segment the market for your chosen business using appropriate segmentation variables. Identify one new segment that you think would be the most profitable for your chosen business company to target. Suggest possible positioning strategies for the new segment.

As a member of a marketing team involved in the preparation of an effective marketing plan, you have been tasked with conducting an extensive market research on any one of the following businesses:

Your report should utilise a range of relevant academic and data sources and underpin points made.
Your research should specifically address the following two tasks:

Individual Report Structure

ØHighlight of main points

ØMajor findings

ØMain conclusion points

Hint: Use of published research reports such as Mintel and Marketline Advantage reports, government sources, national newspapers, BBC business website, etc. for data and information on your company. For example, if the main area of your company’s business is catering then search for information on the size of the market, product types, customers, competitors, etc. The company’s website should offer information on the product range, which can be viewed as current market segments targeted by the company. In answering this section you are strongly advised to follow this structure:

(1) Market analysis: Provide some relevant information on the market in which the company operates within such as market trends, product range, consumers/customers types, etc.

(2) TOWS matrix: Collected information on SWOT factors should be appended and used to identify the main points for the development of a TOWS matrix and place this in the main report.

(3) PEST analysis: Collected information on PEST elements should be appended and used to identify the most relevant points for the company's PEST

(4) Competitive analysis: State the main strengths and weaknesses of your company’s major competitors and place the rest of the competitive research in an appendix.

Segmentation, Targeting & Positioning (start on a new page)

(This is based on STP session slides, student activities and the corresponding chapters of the recommended for reading marketing texts and journal articles).

TOWS Matrix

This section is informed by the findings of your Situational Analysis section. First of all, ensure you understood marketing segmentation and the variables used in the segmentation process. Give a brief explanation of segmentation and profile possible segments using relevant segmentation variables. Of the selected segments, identify one new segment to be targeted by the company and justify your reasons for its selection. Finally, develop appropriate positioning strategies for your chosen target segment and draw a perceptual map for it.

Use marketing textbooks and academic journal articles as sourced materials You must use the Harvard Citation and Referencing System. The Learning Centres of the University of Wolverhampton have produced a document called Harvard Referencing Guide which contains useful information supported by clear examples on how to cite and reference sources using the Harvard System.

Assessment Criteria (The actual assessment components for this assignment)

Appropriateness of the methods and techniques used for analysing the marketing environments.

The extent of research and analysis of the UK market and he company’s market.

The development and justification of the proposed segmentation, targeting and positioning within the marketing plan for the success of the chosen brand/product Communicate effectively: report writing skill, including report presentation

Demonstrate an understanding of what is involved in Marketing Planning across a wide range of businesses and the required knowledge about the market environment, customers and competitors.

Demonstrate the ability to research and evaluate data and information sources appropriate for a specific marketing situation

Discuss the roles of the various stages of marketing planning process and their inter-links leading to the creation of an effective written marketing plan.

Develop appropriate plans of monitoring, implementation and control system for a marketing plan including identifying the required success measurements.

Always keep a copy of your work and a file of working papers

There may be circumstances where it is difficult to arrive at a mark for your work. If this is the case, you may be asked to submit your file and possibly meet with your tutor to answer questions on your submission.

When you submit your work you will be required to sign an important declaration confirming that:

The submission is your own work
Any material you have used has been acknowledged and appropriately referenced
You have not allowed another student to have access to your work
The work has not been submitted previously.

The following information is important when:

Preparing for your assignment
Checking your work before you submit it
Interpreting feedback on your work after marking.

The module Learning Outcomes tested by this assignment, and precise criteria against which your work will be marked are outlined in your assessment brief.

Performance descriptors indicate how marks will be arrived at against each of the assessment criteria. The descriptors indicate the likely characteristics of work that is marked within the percentage bands indicated.

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