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Segment market 1.1 Identify criteria for use in segmenting market in accordance with marketing plan

01 / 10 / 2021 Essays & Coursework

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Unit Sector

Business Development – Marketing

Elements and Performance Criteria

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Segment market

1.1 Identify criteria for use in segmenting market in accordance with marketing plan

1.2 Identify and access sources of information for segmenting and profiling markets in accordance with marketing plan

1.3 Segment market in accordance with identified criteria

1.4 Review market segments for their usefulness in terms of factors such as their size, potential, distinctive needs, easy identification of members or distinctive media use patterns

1.5 Select market segments to meet marketing objectives, and choose and apply new segmentation criteria if required

2. Identify target market

2.1 Evaluate approaches to determining and describing total market for a product or service

2.2 Define target market in terms of consumers to be included as prospective users of a product or service, and selected market segments

2.3 Use segment descriptors to describe target market

2.4 Identify available strategic marketing options and select targeting strategies that best meet requirements of the marketing plan

3. Profile target audience

3.1 Describe total market and selected market segments using a consumer profile

3.2 Identify consumer characteristics in standard statistical terms and/or descriptive terms used in media selection in consumer profile

3.3 Use demographic and/or psychographic descriptions in consumer profile in accordance with requirements of the marketing plan

3.4 Describe consumer attitudes to products or services being offered

3.5 Ensure profile meets organisational requirements of language, format, content and level of detail

4. Develop positioning strategy

4.1 Identify available positioning strategies and choose a strategy to meet marketing requirements and consumer profile

4.2 Write a positioning implementation plan containing several options, in accordance with organisational requirements

4.3 Submit plan to supervisor within specified timelines and make appropriate adjustments based on feedback



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