STDP Framework Report

Workbook 3

(must submit in-class in week 2 & 3)

*Individual*

·       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.

·       Workbook 3 will show you step-by-step process of how to do STDP in marketing.

You need to submit these workbooks online on Moodle.

(100 words)

Please provide a fully referenced background to this report that includes:

·       An industry overview (min. 1 reference)

·       Brief description of (min. 1 reference):

o   the company

o   the competitors

o   their current products

o   their current target market

Hint: Workbook 2, Part 4

(300 words)

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 bases

·       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 3, Step 1

(150 words)

·       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 3, Step 2

(200 words)

Considering the target market that you have selected, 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 (can be more than one) 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 3, Step 3-4

(and General Communications)

Use credible and relevant references (minimum of 5 different references (at least 2 being academic references i.e. textbooks and journal articles)

·       You MAY NOT use:

o   Wikipedia

o   Investopedia

o   Businessdictionary.com

o   Blogs

o   Marketingteacher.com

o   and the like

·       For websites, you may consider websites that ends with:

o   .org

o   .gov.au

o   .net

o   .com (only for company websites)

·       You can also cite news articles

·       Correct and consistent use of Deakin Harvard Referencing format

·       Professional business report (avoid 1^st person expression i.e. I, we, us

·       Free of grammar and spelling mistakes

·       Have checked the online library resources on Moodle

·       Delete the template boxes à [Delete this box before submission]

·       Using the assignment template provided by the unit chair (below)

·       Using the company that has been allocated to you