BB Project Guidelines (Part One)

Buyer Behavior

MKTG 1052

PROJECT GUIDELINES(Part One)

1BB Guidelines (Part One) copyright of BBAdvisor

The requirement:

Instruction (as per guidelines)

Interpretation/ what needs to be done:

Overall:The key here is applicationYou should not turn your report into the following:long and unnecessary descriptions of marketing strategies; you must maintain the balance between BB and marketing should not write extensive

This assignment is designed to encourage students to explore the impact of buyer behaviour on marketing strategy through the examination of an actual product category. Working in groups, you BB and marketing should not write extensive

paragraphs describing a theory/theories in detail; this is not an essay on BB

Read in particular those sections in the different chapters that touch on “implications for marketing strategy” – this is one of the outstanding features of the book selected by RMIT for this course. The more you are able to apply relevant BB concepts to marketing strategies, the better your grade.

category. Working in groups, you are required to demonstrate the application of buyer behaviour concepts at various stages of an organisation’s marketing planning process. The discussion of concepts will help you to achieve a deeper level of learning. The application of the concepts will prepare you for discussion and use of these concepts in other marketing subjects and in the world of work.

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BB Guidelines (Part One) copyright of BBAdvisor

Selection of the product:



Select a specific product (good or service) that has been introduced to the market in the last two years; is of interest to the group and the group considers successful. It

Try not to choose a revolutionary new product that has not yet caught on in adoption. Make sure you understand the difference between product and brand!Current examples might be tablet PC, new versions of soft drinks, new car categories such as ‘cross-over’ and group considers successful. It

is recommended you choose a specific product within a product category, i.e. Imported beers – eg. Heineken orBoutique beers – eg Mountain Goat beer. Ensure there is availability of secondary information before you start. You are not to access primary data. Select another brand which is competing with your brand which could serve as a substitute in the same market.

soft drinks, new car categories such as ‘cross-over’ and so many others.

This ‘other’ brand that you select must be done carefully because the angle in this project is to demonstrate differences in marketing strategies. If you choose a competitor brand that is perceived similarly, then you will not have much to write about in terms of contrasting their marketing strategies. 3


1. Markets and 2.Competition:



Market: For market data: Try to use library databases like Factiva or GMID to get secondary data about the brand.

Where possible show tables and charts (pie or trend charts)

1.1 Size of market, market share, market position, depth and breadth of product range,

company’s principal (pie or trend charts)

Competitors: Think through carefully who are the direct and indirect competitors. On what basis do they compete- similar or different? Draw a positioning map to show the different competitors; upon what bases are the competitors positioned differently?

company’s principal product (or products) in terms of features and benefits, positioning of the product, product life cycle stage,

2. CompetitorsNumber of direct /

indirect competitors, size of competitors, positioning as low cost, niche players

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3. Identification of Target Markets:



3.1 Who is (are) the primary target market(s) for this product? Describe these

For each of the two products (chosen and competitor ) identify-

Straightforward listing of segmentation variables- BUT make sure your description of each of the three areas FIT specifically to the product category you have selected. Do NOT copy long lists of segmentation

product? Describe these segments in terms of:

-demographics: e.g., subculture, social class, family life cycle stage,-psychographic: personality, AIOs, and/or lifestyle such as VALS2 or geodemographics, etc, -behavioural: benefits sought, deal proneness, heavy usage, etc.

variables that have no bearing or connection to the product or brand!

Segmentation bases such as demographics, psychographic and behavioral variables are possible ‘predictive’ variables that determine who are the likely target markets

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3. Identification of Target Markets:



3.2 Are there any potential market segments you would recommend for this product? Describe

Potential market segments means segments that are not currently using your product but can be considered for the near future.

Examples:product? Describe these segments as above.

-iPad tablet currently used by managers or 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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Section 3 may be presented in a table- how?

Market Segment Product /Brand Demographics Psychograph ics Behavioral

Current target segment

Chosen brand

Competitor brand

Potential target segment

Chosen brand

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


Business

BB Project Guidelines (Part One)