Assignment 2: Understanding Customers' Value Needs (15%) Introduction Assignments have been designed to help you integrate and apply the marketing concepts, terms, and information you have learned up...

Assignment 2: Understanding Customers' Value Needs (15%)

Introduction

Assignments have been designed to help you integrate and apply the marketing concepts, terms, and information you have learned up to this point. These concepts provide a foundation on which other course concepts are built. Assessing your comprehension will help ensure that you are on track to successfully complete the course. This assignment is worth 15% of your final grade in the course.

2.1: Market Research Concepts (25 marks)

Suggested time:2.5 hours

Length:Please write your response in essay format and limit your response to 2 pages using 1.5 line-spacing. If you need to include a table, attach it as an exhibit or appendix and summarize your findings in the body of the assignment.

Final Mark: This assignment is worth 15% of your final mark.

Assessment:This part of the assignment will be assessed using the following criteria:

· Demonstration of ability to navigate the Statistics Canada website to retrieve the requested information.

· Critical assessment (advantages and disadvantages) of the use of Statistics Canada data for market segmentation and strategy development.

Statistics Canada is a key source of secondary data in Canada, particularly for basic demographic information on Canadian cities and regions. Using bothStatistics Canada dataand any other data you can find on the Internet, develop a report on a Canadian city of your choice that answers these questions:

A. What is the total population of the city? (2 points)

B. Using means (averages), frequencies (number of people), and percentages provided by Statistics Canada describe: (5 points)

o The population of the city in terms of age, income, education, ethnic background, marital status, occupation, and housing

C. The demographic characteristics of the entire Canadian population (5 points)

D. The most significant thing you learned from this exercise (3 points)

E. Review all of the information provided on the Statistics Canada website. For marketers seeking to develop market segment profiles or marketing strategy, what are four advantages and four disadvantages of using this data, from a marketing perspective? (10 points)

2.2: Consumer and Organizational Buying Behaviour (20 marks)

Suggested time:2.0 to 3.0 hours

Length:Please write your response in essay format and in point form as appropriate and limit your response to 2 pages using 1.5 line-spacing.

Assessment:This part of the assignment will be assessed using the following criteria:

· The extent to which the answer provides comparison and contrasts and is able to illustrate how the model applied or did not apply in this situation.

· Depth of insight with respect to the implications for sales and marketing.

In this module, you learned that consumers and organizations go through a progression of steps as they make purchase decisions.

A. Describe your decision process for each step in the consumer decision-making process when deciding to purchase anApple Smart Watch with GPS Wi-Fi(5 points)

B. How does your consumer decision-making process for an Apple Smart Watch with GPS Wi-Fi compare with the model illustrated in Figure 5.5 in the textbook on page 164? (5 points)

C. With respect to Figure 2.1, the FCB Grid discussed earlier in this module, what type of decision is your decision to purchase an Apple Smart Watch with GPS Wi-Fi? Explain why your decision is a high/low involvement and a think/feel decision? (5 points)

D. Assuming the consumer decision-making process is typical and that competition in the smart watch market continues to increase, what are five sales and marketing implications for Apple to increase their chance of success in selling to a consumer like you? (5 points)

2.3: Chef’s Plate — Segmentation and Positioning (50 marks)

Suggested time:4.0 to 6.0 hours

Length:Please write your response in essay and/or point form as appropriate and limit your response to 3–4 pages using 1.5 line-spacing.

Assessment:This part of the assignment will be assessed using the following criteria:

· Strategic marketing insight of the SWOT Analysis

· Level of detail in the target market segment profiles

· Depth of rationale and use of marketing concepts, terms, and information to support conclusions or recommendations

Refer to Assignment 1.2 SWOT Analysis for Chef’s Plate. Review the organization’s website at towww.chefsplate.comlearn more about the company. You can also research the subscription meal kit delivery industry and its Canadian companies.

A. Review the SWOT Analysis and four most important factors and their rationale facing this organization from your first assignment. Includeboth in an appendix at the end of the assignment. (0 points (used for reference only))

B. Decide on a segmentation approach for this market. Identify at least three target market segments in this market that fit this segmentation approach. Justify (from a marketing perspective) why this segmentation approach is a good one. (10 points)

C. Develop rich detailed target market profiles for these three target market segmentsin point-form, using the major headings in Chapter 6, page 195 in Figure 6.7 in the textbook. Use your own experience, secondary research, and exploratory research methods (interviews with customers and/or direct observation). Ensure you apply consumer or organizational buying behaviour concepts and terms in the profile development. (18 points)

D. Make a recommendation for the selection of a primary target market segment (target audience) you think this organization should target. Provide rationale as to why this target market segment should be the primary target market segment. (6 points)

E. Determine a positioning strategy for the organization for your primary target market segment. Provide two reasons, from a marketing perspective, why this positioning is appropriate for your target audience. (5 points)

F. Describe, from a marketing perspective, what allows this organization to defend this positioning or what competencies would need to be developed. (6 points)

G. Draw a positioning map to illustrate your positioning strategy. (5 points)

2.4 Report Structure and Presentation (5 marks)

Remember, you will be judged by the structure, clarity, presentation, and quality of your work. Prepare and present your assignments in a formal manner suitable for business.

To ensure the quality of your written work, refer to theAssignment and Final Project StructureSection.

Assessment Criteria

The assignment will be evaluated against the following performance criteria:

Content—Address all points of information as outlined in the criteria and content for the assignments and Final Project. Incorporate specific references to readings, theories, ideas, and feedback that assisted you in rethinking your experiences and increasing your awareness of your marketing skills.

Knowledge—Demonstrate your knowledge, understanding, skills, and perspectives on the course’s learning materials by applying them in the assignments and Final Project. Link theory and practice by applying what you learned from the readings, reflections, and practical application of your new marketing skills and from discussions with your fellow students.

Theory & Practice—Demonstrate the connections between the work of others (course materials, readings, activities, and discussions) and actual organizational principles, practices, and processes. Go beyond general descriptions. Be thoughtful and critical in your analyses, conclusions, and recommendations.

Critical Thinking—Use reflective, logical, and rational thinking to gather, combine, process, interpret, and analyze the information to develop a reasonable conclusion. Provide examples to support your comments and observations. Be specific and concrete. Tell a complete story. Avoid generalizations. Support a statement with a specific example that demonstrates your understanding and skill.

Completion Guidelines

Submit your Assignment using the Assignment tool accessible via the "This course" menu and selecting "Assignments." Be sure to save your assignment as a Word document and name it: MKTG 2431_Lastname_Assign1_CourseCompletionDate

Reminders before submitting assignment:

· Did you put your name, student number, and your course completion date on the cover page of the document?

· Did you submit all parts of the assignment in one Word document to your Open Learning Faculty Member?

· Did you complete all the required elements?

· Did you use concepts, information, and terminology learned in this course?

· Did you support your statements with specific examples?

· Did you cite references, using correct referencing format?

· Did you ensure that there are no spelling mistakes?

· Is your report grammatically correct, clear, and well organized?