1. Buyer Behavior
MKTG 1052
PROJECT GUIDELINES
(Part One)
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2. r
The equirement:
Instruction (as per Interpretation/ what needs to be
guidelines) done:
Overall:
This assignment is designed to The key here is application
encourage students to explore
You should not turn your report into the following:
the impact of buyer behaviour on
marketing strategy through the long and unnecessary descriptions of marketing
examination of an actual product strategies; you must maintain the balance between
category. Working in groups, you BB and marketing should not write extensive
are required to demonstrate the paragraphs describing a theory/theories in detail;
application of buyer behaviour this is not an essay on BB
concepts at various stages of an
organisation’s marketing
planning process. The discussion
Read in particular those sections in the different
of concepts will help you to chapters that touch on “implications for
achieve a deeper level of marketing strategy” – this is one of the
learning. The application of the outstanding features of the book selected by RMIT
concepts will prepare you for for this course. The more you are able to apply
discussion and use of these relevant BB concepts to marketing strategies, the
concepts in other marketing better your grade.
subjects and in the world of work.
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3. Selection of the product:
Instruction (as per Interpretation/ what needs to be
guidelines) done:
Select a specific product
(good or service) that has Try not to choose a revolutionary new product that has
been introduced to the market not yet caught on in adoption. Make sure you understand
in the last two years; is of the difference between product and brand!
interest to the group and the Current examples might be tablet PC, new versions of
group considers successful. It soft drinks, new car categories such as ‘cross-over’ and
is recommended you choose so many others.
a specific product within a
product category, i.e. Imported
beers – eg. Heineken or
Boutique beers – eg Mountain
Goat beer. Ensure there is
availability of secondary
information before you start.
You are not to access primary This ‘other’ brand that you select must be done carefully
data. because the angle in this project is to demonstrate
Select another brand which differences in marketing strategies. If you choose a
is competing with your brand competitor brand that is perceived similarly, then you will
which could serve as a not have much to write about in terms of contrasting their
substitute in the same market. marketing strategies. 3
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4. 1. Markets and 2.Competition:
Instruction (as per Interpretation/ what needs to be
guidelines) done:
Market: For market data: Try to use library
1.1 Size of market, market databases like Factiva or GMID to get
share, market position, secondary data about the brand.
depth and breadth of
product range, Where possible show tables and charts
company’s principal (pie or trend charts)
product (or products) in
terms of features and
benefits, positioning of
the product, product life
Competitors: Think through carefully who
cycle stage, are the direct and indirect competitors. On
2. Competitors what basis do they compete- similar or
Number of direct / different? Draw a positioning map to show
indirect the different competitors; upon what bases
competitors, size
of competitors,
are the competitors positioned differently?
positioning as low
cost, niche players
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5. 3. Identification of Target Markets:
Instruction (as per Interpretation/ what needs to be
guidelines) done:
For each of the two products Straightforward listing of segmentation
(chosen and competitor) variables- BUT make sure your description
identify- of each of the three areas FIT specifically to
3.1 Who is (are) the primary the product category you have selected. Do
target market(s) for this NOT copy long lists of segmentation
product? Describe these
segments in terms of: variables that have no bearing or
-demographics: e.g., connection to the product or brand!
subculture, social class,
family life cycle stage,
-psychographic:
Segmentation bases such as
personality, AIOs, and/or demographics, psychographic and
lifestyle such as VALS2 behavioral variables are possible
or geodemographics, ‘predictive’ variables that determine who are
etc,
-behavioural: benefits the likely target markets
sought, deal proneness,
heavy usage, etc.
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6. 3. Identification of Target Markets:
Instruction (as per Interpretation/ what needs to be
guidelines) done:
Potential market segments means segments
3.2 Are there any
that are not currently using your product but
potential market
can be considered for the near future.
segments you would
recommend for this
Examples:
product? Describe
these segments as
-iPad tablet currently used by managers or
above.
adult segment but may penetrate the student
market
-The Nintendo Wi was intended for the
gaming market but is also considered by
senior citizens as a means of exercise and
body coordination!
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7. Section 3 may be presented in a table- how?
Market Segment Product /Brand Demographics Psychographics Behavioral
Current target Chosen brand
segment
Competitor brand
Potential target Chosen brand
segment
Competitor brand
For each cell, provide a brief description of the relevant
segmentation variable/s and explain why these are relevant
to the chosen brand and competitors brand. Do you see any
similarities or differences in the way the competitors target
their brand; do they focus on similar or different segments?
Elaborate the differences if any. 7
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