Marketing Management and Digital Communication

ASSIGNMENT 2: MARKETING MANAGEMENT AND DIGITAL
COMMUNICATION
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Table of Contents
1.0 Introduction:..............................................................................................................................3
2.0 Discussion of the segmentation, targeting and positioning approach........................................4
a) Problem statement:...................................................................................................................4
b) Market segmentation:..............................................................................................................5
c) Targeting:.................................................................................................................................9
Target areas:.............................................................................................................................9
Target customer group:............................................................................................................9
d) Positioning:..............................................................................................................................9
3.0 Discussion of objectives:.........................................................................................................11
3.1 Marketing objectives:...........................................................................................................11
3.2 Financial objectives:............................................................................................................11
4.0 Detailed marketing mix strategy and budget allocation:.........................................................12
4. 1 Marketing Mix: 4Ps:...........................................................................................................12
Product:..................................................................................................................................12
Price:.......................................................................................................................................12
Place:......................................................................................................................................12
Promotion:..............................................................................................................................13
4.2 Budget allocation for promotional mix:...............................................................................15
5.0 Conclusion:..............................................................................................................................16
References:....................................................................................................................................17
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1.0 Introduction:
Marketing management may be construed to be one of the success-critical aspects of the business
studies as the same may include the consideration of several factors that are both internal and
external to the business (Natural Evolution, 2018). A successfully designed marketing mix along
with the promotional strategies may pave a long way towards the success of the business in the
industry in the long-run. The present report focuses on the mark marketing strategies through
segmenting, targeting and positioning (STP) of the product and relate the same with the pre-
determined marketing objectives set for the given purpose. The report finally provides a
summary budget for the execution of the marketing strategies and wraps up the discussion by
way of concluding note.
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2.0 Discussion of the segmentation, targeting and positioning approach
a) Problem statement:
The situational analysis conducted in the first part indicates that value proposition and product
distinguishable factors are essential to achieving market potential in Australia. Bezawada &
Pauwels (2013) mentioned that unlike other countries, the Australian customers are more aware
of the product specification and willing to spend much for the better health care. Thus, the
products claiming to be organic, but unable to show authentication might be an issue while
targeting the potential customers.
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