BSB42415

Certificate IV in Marketing and Communication

BSBMKG401 Profile the market

KULPALI PHONGKITWATTHANA
ID: 820701

Self-Study Workbook
Certificate IV in Marketing
SELF-STUDYand Communication
WORKBOOK
(BSB42415)
Mode | Classroom Delivery
Unit: BSBMKG401 - Profile the market

Page 1 of 8 | Self-study Workbook | BSBMKG401 Profile the market

Version 1.0: Jan 2019, Approved: Academic Manager; Next Review: Dec 2019
Macquarie Education Group Australia Pty Ltd t/a MEGA
RTO Code 91305 | CRICOS Code 02657J
Reading material for Activity 1:
Research Marketing Profile:
 Segmentation criteria
 Sources of information
 Data collection
 Data analysis
 Segment requirements

PowerPoint Learner Resource

Activity 1
• Observe and research the market around you and list the criterion for market segmentation,
valid sources of information, detail the data collection and analysis methods. Also describe the
segment requirements and how you will select the segments.

Segmentation criteria:
- demographic
- usage
- geographic
- Psychographic

Source of information:
- Australian Bureau of Statistics
- associations of every kind
- government agencies
- suppliers
- market research companies
- non-government lobby groups
- sales and operations, distributors
- qualitative and quantitative market research.

Data collection:
Types:
- observation of customers
- focus groups
- qualitative and quantitative surveys
- telephone
- email
- direct interview
- diaries
- competitions
- registration (online, face-to-face, or mail).

Must comply with:

- occupational health and safety legislation
- equal opportunity
- industrial relations
- anti-discrimination and anti-harassment
- environment
Page 2 of 8 | Self-study Workbook | BSBMKG401 Profile the market
Version 1.0: Jan 2019, Approved: Academic Manager; Next Review: Dec 2019
Macquarie Education Group Australia Pty Ltd t/a MEGA
RTO Code 91305 | CRICOS Code 02657J
 - privacy
- Competition and Consumer Act
- sweepstakes regulations.

Data analysis:
- Cluster Analysis
- Conjoint Analysis
- Cross Tabulation

Segment requirements:
- the size and purchasing power of the segment can be measured
- consumers in the segment can be reached by marketing communications
- the segment is large enough to consider
- the segment will last over time
- consumers in the segment react similarly in terms of marketing variables.

Segment selection

Page 3 of 8 | Self-study Workbook | BSBMKG401 Profile the market

Version 1.0: Jan 2019, Approved: Academic Manager; Next Review: Dec 2019
Macquarie Education Group Australia Pty Ltd t/a MEGA
RTO Code 91305 | CRICOS Code 02657J
Reading material for Activity 2:
Target Market:
 Total market description
 Total market definition
 Segment descriptors
 Marketing options
 Targeting strategies

PowerPoint Learner Resource

Activity 2
Conduct a research and define your target market. List some segment descriptors with proper
marketing options and targeting strategies.

Total market description

- dollar or unit terms
- current customer similarities
- needs
- related characteristics e.g. ‘values’ segments.

Total market definition

- Enables creation of communications to convert prospects into customers.
- Allows sales to understand how to identify a prospect in the segment.
- May be defined in terms of the characteristics of existing customers.
- May be defined in terms of a combination of descriptors.

Segment descriptors
Describe people using terms including:
- demographic
- benefits-sought
- geographic
- situation
- psychographic
- behaviour/usage.

Marketing options
- advertising
o attention
o interest
o desire
o action
- media choice
- Distribution.

Page 4 of 8 | Self-study Workbook | BSBMKG401 Profile the market

Version 1.0: Jan 2019, Approved: Academic Manager; Next Review: Dec 2019
Macquarie Education Group Australia Pty Ltd t/a MEGA
RTO Code 91305 | CRICOS Code 02657J
Targeting strategies

Undifferentiated – treat all segments the same.

Concentrated – target specific segments and ignore others in the market.

Multi-segment – treat each segment in the market differently.

Page 5 of 8 | Self-study Workbook | BSBMKG401 Profile the market

Version 1.0: Jan 2019, Approved: Academic Manager; Next Review: Dec 2019
Macquarie Education Group Australia Pty Ltd t/a MEGA
RTO Code 91305 | CRICOS Code 02657J
Reading material for Activity 3:
The Target Audience:
 Describing a market
 Consumer profile
 Align with organisational requirements.

PowerPoint Learner Resource

Activity 3
Conduct a research and list some ways to describe a market properly. What variable do you
need to consider while creating a consumer profile? How would you make sure that the
consumer profile aligns with the organisational requirements?

Describing a market
Use …
o demographic
o psychographic
o usage and
o behavioural descriptors
…to uniquely describe segments.

Consumer profile
Include variables such as:
- age
- gender
- family lifecycle
- income
- value segment
- location
- personality
- benefits sought
- usage rate
- loyalty status
- where purchased/consumed
- estimated growth rate
- estimated size
- media usage

Align with organisational requirements.

Align the detail and content of the profile with:
- complexity of market
- level of risk
- uniqueness of product/service – needs match
- stakeholder needs.

Page 6 of 8 | Self-study Workbook | BSBMKG401 Profile the market

Version 1.0: Jan 2019, Approved: Academic Manager; Next Review: Dec 2019
Macquarie Education Group Australia Pty Ltd t/a MEGA
RTO Code 91305 | CRICOS Code 02657J
Reading material for Activity 4:
Positioning Strategy:
 Positioning strategies
 Implementation plan
 Respond to feedback

PowerPoint Learner Resource

Activity 4
What do you understand by the term product positioning? List some positioning services
and strategies that you would use in your organisation. Briefly design an implementation
plan for the strategies you have planned. How would you go about responding to the
feedback after the implementation stage?

Positioning strategies
Designing the company offer and image so that it occupies a distinct and valued place in the target
consumers’ minds’ – Kotler
Tools to achieve desired position:
- product
- price
- promotion
- placement.

Positioning services
As well as the four P’s, consider:
- people
- processes
- physical evidence.

Positioning strategies
1. product/service attributes
2. price and quality
3. use or application
4. product/service user
5. product/service class
6. competitor.

Implementation plan
Write an implementation plan that covers:
- description of target customers
- positioning strategy options
o overview of positioning strategy
o key tasks
o marketing requirements
o resource requirements
o assign responsibility
o timeframes
- other tasks as required by the organisation.
Respond to feedback
- Seek feedback from senior management and other stakeholders.
Page 7 of 8 | Self-study Workbook | BSBMKG401 Profile the market
Version 1.0: Jan 2019, Approved: Academic Manager; Next Review: Dec 2019
Macquarie Education Group Australia Pty Ltd t/a MEGA
RTO Code 91305 | CRICOS Code 02657J
 - Clarify desired outcomes.
- Analyse interdependencies.
- Respond with overall implications and alternatives to achieving desired outcome.

Page 8 of 8 | Self-study Workbook | BSBMKG401 Profile the market

Version 1.0: Jan 2019, Approved: Academic Manager; Next Review: Dec 2019
Macquarie Education Group Australia Pty Ltd t/a MEGA
RTO Code 91305 | CRICOS Code 02657J