Principle of Marketing Assignment 2 BTEC Nguyen Huu Phong 2017

Principle of Marketing Assignment 2 BTEC Nguyen Huu Phong 2017 tại University of Greenwich Viet Nam, đây là một trong những môn rất quan trọng và cần thiết cho những người muốn theo nghành businness cụ thể là human resource management như mình. Bài assignment này được mình làm tại trường. Các bạn có thể xem và tham khảo nhưng lư

ASSIGNMENT FRONT SHEET Qualification BTEC Level HND Diploma in Business Unit number and title Unit 4: Marketing Principles Assignment due Assignment submitted Learner’s name Nguyễn Hữu Phong Assessor name Learner declaration: I certify that the work submitted for this assignment is my own and research sources are fully acknowledged Learner signature Date Grading grid P2.1 P2.2 P2.3 Assignment title P2.4 P2.5 M1 M2 M3 D1 D2 D3 Marketing Analysis and Marketing Strategy In this assignment, you will have opportunities to provide evidence against the following criteria Indicate the page numbers where the evidence can be found Assessment criteria Expected evidence Task no LO2 Be able to use the concepts of segmentation, targeting and positioning 2.1 show macro and micro environmental factors which influence marketing decisions - Explain what are marketing macro and micro environment factors and show how these factors influence to the marketing activities 2.2 propose segmentation criteria to be used for products in different markets - Explain what are segmentation and segmentation criteria, Propose suitable segmentation criteria to segment the market of your product into different segments 2 Assessor’s Feedback 2.3 choose a targeting strategy for a selected product/service Explain different targeting strategies and choose a targeting strategy that is best suited for your product in the market 2.4 demonstrate how buyer behaviour affects marketing activities in different buying situations Explain consumer behavior and demonstrate how consumer behavior affect to marketing activities in different situations 2.5 propose new positioning Explain what is positioning strategy and propose a new for a selected product positioning strategy for your /service product Assessment criteria Merit descriptor No (M1) Expected Evidence Feedback (note on Merit/Distinction if applicable) - Evaluate the influence of marketing macro and micro environment factors to the marketing activities of your product - Identify complex organization’s marketing situation when proposing segmentation criteria - Identify complex organization’s marketing situation when choosing targeting strategy - Describe your target consumer buyer behavior and demonstrate how their behavior should affect to your marketing activities - Identify complex organization’s marketing situation when proposing a new positioning strategy for your product Merit descriptor No.2 (M2) - Relevant data analysis methods are effectively applied to analyze the influence of the micro and macro marketing environment factors to the company’s marketing activities - Relevant marketing theories and models are used to describe targeted consumers (consumer behavior model, type of consumer buying behavior, consumer buying process) - Relevant theories are applied to propose marketing strategy (effective segmentation, selecting target segment, positioning map…) - A wide range of information (relating to marketing environment, consumer behavior, and marketing strategy) is used to support the arguments Merit descriptor No.3 (M3) Distinction descriptor No.1 (D1) - clear assignment structure with appropriate academic writing - marketing terminologies are correctly used (for non marketing audience) - the assignment is written with consistency and coherence - Propose appropriate recommendations for your company to proactively response to micro and macro environmental factors - Critically evaluate your own proposed segmentation criteria - Critically evaluate your chosen targeting strategy - Propose appropriate recommendations to your company to improve its response towards consumer buying behavior - Critically evaluate your proposed positioning strategy Distinction descriptor No.2 (D2) - A wide and quality research for the business, its marketing environment, its customers, has been done to provide information for this assignment - A primary research to understand consumer buying behavior is employed - substantive information related to support your marketing strategy proposal (segmentation, market targeting and positioning) is effectively searched and used - Sources of information used are correctly cited Distinction descriptor No.3 (D3) - Generate your own ideas on marketing environment, marketing strategy and consumer behavior for the organization through the assignment - Effectively self-evaluate your own arguments and recommendations for the organization on marketing environment, buyer behavior and marketing strategy - Innovative and creative thoughts are applied in the proposed marketing strategy for your product Summative feedback Assessor’s Signature IV Grading Check: Date Comments if any: Agree Disagree Modify grade to IV Signature Date Contents Introduction 11 Marketing Environment Segmentation 20 Targeting Strategy Buyer Behavior Positioning References 14 24 29 31 35 10 Demographic Gender Males & Females Bachelor Stage Life-cycle stage Newly Married Couples Males & Females Males & Females Bachelor Stage Bachelor Stage Newly Married Couples Newly Married Couples Full Nest I Full Nest II Income High earners High earners High earners Students Occupation Professionals, managers and executives Professionals, managers and executives ‘Hard core loyals’ ‘Hard core loyals’ ‘Switchers’ ‘Switchers’ Degree of loyalty Professionals, managers ‘Hard core loyals’ ‘Switchers’ Sense of achievement and belonging Behavioral Benefits sought Selfexpression Speed of service, advanced 21 Speed of service Efficiency Efficiency Speed of service features and capabilities Personality Determined and ambitious User status Non-users, potential users Social class Middle and upper classes Determined and ambitious Determined and ambitious Users Users Non-users, potential users Non-users, potential users Middle and upper classes Middle and upper classes Resigned Psychographic Lifestyle[1] Aspirer Succeeder Aspirer Succeeder Explorer Aspirer Succeeder Explorer Explorer Apple Segmentation, Targeting and Positioning - Source: research-methodology Geographic: Apple will market their segmentation by two elements is the region and density Of course, Apple will focus on these priority markets and demand using of technology Besides the iPhone, Apple has a lot of other products for hardware, software and services, such as iPad, iPod, iTunes, Their goal is to bring all of their products to people around the world, particularly concentrated in the populous city Apple is trying to focus resources on the Chinese market that they have reviews of attractions the most populous market in the world To increase sales of the iPhone 7, Apple needs a potential market and according to them that is China Demographic: Apple will rely on aspects such as age, gender, product life cycle that clients use, high income and relied on the careers of customers that Apple want to navigate 22 to The table above has very clear analysis of the audience that apple bound through these factors based on their products and services We can see most of the Apple products from products to services are focused on occupation is professional with high income and stable job Because Apple just want to focus on high-end products so customer segment that the airline is headed to those age 20 with high income and professional work Source: Slice intelligence Behavioral: in this aspect, Apple would concentrate to the loyalty of the consumer for the product, personality as well as their status Often people who use Apple products tend to be loyal to the product because of a few factors related to features Apple knows that their customers in ages like young energetic, often taking pictures and travel Through it, they bring a nice shooting capability, water-resistant features and increased durability for the iPhone It stimulates the renewal needs of the customers that Apple is headed Psychographic: Apple will focus on social class and the lifestyle of the customer segment where Apple is headed Apple towards the middle class and high class Customers 23 who require the elegance in design as well as brand With the iPhone, Apple has meet that and by appropriate marketing strategies, they have convinced many consumers Targeting Strategy According to vinalink confirmed that: "the target market is certain customer segmentation that the business towards, or in other words, the target market is the market consists of all the potential customers of a business, and that business's mission is to attract and make customer satisfaction from that market." According to Bussines Dictionary confirmed that: "Targeting Strategy is the selection of potential customers to whom a business wishes to sell products or services The targeting strategy involves segmenting the market, choosing which segments of the market are appropriate, and determining the products that will be offered in each segment." Any company would also have a target market and its strategy to focus on its target market Apple is also that, they divided their target market into types such as teenagers, business clients, university students, children and adults Depending on the group that Apple has the product and marketing strategies to bring products to each of its client groups Teenagers This is the customer group is primarily the young with many demands on the use of social networking, photography, entertainment applications with high frequency Apple will use two types of products are iPod and iPhone to focused to meet the needs of this client group It is also considered the primary target market that Apple wants to focus sharply Specifically, they have improved and upgraded the ability to photograph a lot is selfie movements in response to the youth, besides love to travel and operate under water, Apple also brings water-resistant features as well as enhance the durability for their latest generation of iPhones is iPhone The move shows that Apple are looking to focus on groups of customers are young teenagers 24 Source: Internet Business clients In recent years, Apple has focused more for enterprise customers They want their products are popular with the business because this is a full of potential target market Apple brings to the many product lines to focus on solving work and communicate with customers, the things that businesses need to optimize productivity Specifically, Apple has the iPhone, iPad, Macbook and iMac to focus on business customers Apple also shows clearly how they seriously for this client group with the release of the iPad Pro with lots of accessories to solve problems rather than personal If only the hardware, Apple never gets the business customers use, however the master of software and hardware helped the "giant" of Cupertino dominates this market Apple created is an experience in sync between devices and help tackle the job in the best way Combine all those things, with an effective strategy, then Apple is gradually dominate this customer group 25 Students at the University Actually, Apple always well what they involved And education are also not beyond that, about their products, both hardware and software to meet all the needs that students need in an university environment First on the hardware, the iPad and the Apple Macbook is truly top choice, this is easy to see with the eyes when we walk at an University in America iPad and Macbook too convenient for carrying and use besides the useful software and the quality of the Apple ecosystem Students can easily note, stats, draft, search, everything quickly and easily by using the devices from Apple More particularly it completely in sync with each other in a good way In addition, Apple also provides a few apps for education to develop students in the Apple Education System Source: Internet 26 Kids It's easy to catch a child is using the iPad Up to the present time, when mentioning the consumer tablets that the iPad is the default and is an indispensable product for children iPad helps children entertained with the fun games and helping children learning thinking through the direct interaction, this stimulates brain development for many children When you visit the AppStore, the number of applications for children so much, this shows the Apple and the ecosystem programmer interested in child education However, a word of advice is to take control of the frequency of use of children on iPad to avoid side effects, Apple should make a function to control this and it's great when Apple was interested in that Adults This is also a major target market of Apple With the wide range of products and especially the iPhone, Apple wants to bring a most wonderful experience and the most simple of the basic tasks on often to optimize the use of the people Tasks like browsing the web, entertainment, making calls and texting, Apple are doing good and helping people's lives increasingly easier when using their products Apple always towards adults and sees this as the main target market as well as the most potential they have and they will be exploited more Those who have grown up with stable jobs and high incomes with work requires professional because every Apple product launches are in the premium segment Through the certain customer segment above, we can see that Apple is very much geared to their customers but specifically for the advanced users in adulthood They have the work requires the handling of high work and Apple respond that with high-end products The main object of this mature clients will help bring profits for Apple and their loyalty to the product Apple focus on this object and bind them into hardware products, software and services 27 Source: Internet Back to main product, iPhone is the Apple key in 2016 As said above, this product is the primary focus to the teenagers with photography and travel needs That is why the upgrade on iPhone years now focused solely on photography and water resistance Besides finishing than previous generation iPhone, then year not really have many changes, this makes consumers feel boring But that is Apple's strategy in 2016, they geared their products to groups of customers are teenagers though still fit in with the rest of the client group This year, the iPhone slowing down probably to prepare carefully for the 10th anniversary of the iPhone launch and it will probably be a huge change Even so, by the effective marketing strategy then the iPhone is still a worth product to buy on the market beside that the biggest opponent is Samsung has the crisis with Galaxy Note 28 Buyer Behavior According to Study (2016) stated that consumer buying behavior is the sum total of a consumer's attitudes preferences, intention and decisions regarding the consumer's behavior in the marketplace when purchasing a product or service Purchasing behavior of customers directly impact on the organization of the marketing strategy Customer buying behavior changes increased or decreased based on the quality, quantity, type and price of the product Based on the factors that we split the buying behavior of customers into kinds are the complex buying behavior, variety seeking behavior, dissonance buying behavior and habitual buying behavior Complex buying behavior This is the buying behavior is considered safe Before specific items, they will thanks to the advice of someone who has used the product or view feedback from people who have purchased the product to see the strengths and weaknesses of the products for which they intend to buy In addition, the client usually places more thoroughly researched before buying the product Variety seeking behavior This customer buying behavior like this through work they have many choices for a variety of products They will check whether the product would truly the best and they will choose to buy that product Sometimes this behaviour brings positive value when it forced the manufacturer to provide a quality product to compete with rival products Dissonance buying behavior The behavior of this purchase shows customers have quite a few choices for the type of products they need to buy This behavior brings some negative influence when there are 29 too few choices to make quality products with no competition and this makes the customer feel not comfortable for a certain product line Habitual buying behavior This behavior is interpreted as the customers buy the product according to the habit This buying behavior usually appears when customers purchase products such as food They have a similar quality and truly necessary for life so gradually it into a customer's purchasing habits Return to the Apple products, the iPhone is more specific When Apple has organized the marketing strategy for their products, then Apple also met the marketing strategies of the other opponent This lead to the customer being variety seeking behavior, customers have too many choices from other products such as Apple products, Samsung, LG, Xiao Mi, Because they have many of the same features and quality are not too much difference This causes the client to learn multiple sources and view more feedback from people who have used, this is also the complex buying behavior Two acts this influence purchases directly to the marketing strategy of not just Apple but also many other companies forced them to bring better products and more consistent marketing strategy to persuade customers to buy its products 30 Positioning Source: Consumerpsychologist According to study (2016) stated that positioning strategy is when a company chooses one or two important key areas to concentrate on and excels in those areas In other words positioning strategy are short term and long term to strengthen, expand and improve the value of the product, the brand and reputation of the company for a certain market 31 Apple iPhone's market share - Source: Statista Positioning Map – Source: Internet 32 Compared with the data above, we can easily see that Apple still is one of the leading companies and have the position of the teleological argument interests than our competitors in the same field First consider passing on Apple products, Apple products are shaped differently than the rest These elements make it so successful for Apple products it is well supported in a very long time and has always been interested by the Apple and the programmer Next to it is about the basic properties of the product, Apple brought easily products to use for everyone but still guarantee their safety The selling price in the high-end segment is also a difference, Apple products are high-end segment should gradually the concept of luxury and high-end brand and for Apple products is shaped in the minds of customers Help Apple has an advantage position in thinking of the customer Apple's product quality not only from the hardware but also comes from the software, both elements that are very well coordinated help Apple provide a great user experience and improve product quality Next, Apple's reputation is also built in a sustainable manner when they always bring up the perfect products to meet the needs of customers In the era of Steve Jobs, an Apple has always driven to perfection in each product has helped Apple's reputation as being more consolidation Consumers always find the care to the meticulous in every detail of the Apple product and this makes the customer trust and loyalty more than with the giants of Cupertino Besides, the problem of the distribution of Apple products is also very different Apple does not want to stay on the distribution to individual agents that focus only on strongly distribution system at its Apple Store around the world This helps avoid the situation raising the price and better customer support of Apple All the above factors help Apple get a location advantage in your target market to which they are bound With just a little market share on the market but Apple still brings in revenue and huge profits, this shows Apple is great optimization of its activities as well as the appropriate strategy 33 The product key is the iPhone in this year, however it has not changed so much but Apple still have a pretty good sales although the decline compared with the previous generation but it is still a dream figure of the opponents This once again shows Apple's position in the market is very large and was supported very much However, an advice for Apple is that they bring much further change and truly breakthrough to clients in their market from being boring If they want to keep and expand Apple's current position on the market, they must have the appropriate strategies and instruments can bring to a new generation of iPhone in the following year - the 10th year anniversary of the launch of the iPhone If they don't that, then Apple's current position on the market will be wobbly and no longer firmly again With the iPhone 7, Apple debuted product oriented their latest advanced into the highend segment like most of the other products This makes Apple's position in the high-end segment and always continue to retain old customers as well as to attract new customers Besides, the older products such as the iPhone, iPhone 6, 6s or iPhone 5s is old still be Apple's distribution and support, even though these products are high-end products from Apple but they have changed the price more reasonable to take down old products or medium-range segment This is applied many times with other products such as iPad, iPod, Macbook, to help more customers have the opportunity to own high end product line of Apple, the object that Apple doesn't focus directed to still be using the ecosystem that Apple brings One thing that we can see, bringing the best high-end products but outdated down medium-range segment, advanced access or even cheap segment still attract users and stiff competition with other brands 34 References          Apple Case Study (2016) Apple’s target market, Available at: http://appleinccasestudy.weebly.com/apples-target-market.html (Accessed: 29 November 2016) Dudovskiy (2016) Apple Segmentation, Targeting and Positioning, Available at: http://researchmethodology.net/apple-segmentation-targeting-and-positioning/ (Accessed: 29 November 2016) Forbes (2016) The World's Most Valuable Brands, Available at: http://www.forbes.com/powerfulbrands/ (Accessed: 29 November 2016) Forbes (2016) The World’s Biggest Public Companies, Available at: http://www.forbes.com/global2000/ (Accessed: 29 November 2016) Genk (2015) The history of 40 years of establishment and development of Apple through 30 photos, Available at: http://genk.vn/internet/lich-su-40-nam-hinh-thanh-va-phat-trien-cua-applequa-30-buc-anh-20150827152101303.chn (Accessed: 29 November 2016) Kokemuller (2016) Six Microenvironmental Factors That Affect Businesses, Available at: http://smallbusiness.chron.com/six-microenvironmental-factors-affect-businesses-78023.html (Accessed: 29 November 2016) Oxfordcollegeofmarketing (2016) The Impact of Micro and Macro Environment Factors on Marketing, Available at: http://blog.oxfordcollegeofmarketing.com/2014/11/04/the-impact-ofmicro-and-macro-environment-factors-on-marketing/ (Accessed: 29 November 2016) Study (2016) Positioning Strategy: Definition & Examples, Available at: http://study.com/academy/lesson/positioning-strategy-definition-examples.html#lesson (Accessed: 29 November 2016) Vinalink (2016) What is the target market, Available at: http://www.vinalink.com/2016/01/target-market-la-gi (Accessed: 29 November 2016) 35