MNM2604 Assignment 3 (COMPLETE ANSWERS) semester 1 2025 DUE 30 April 2025; 100% correct solutions and explanations.

MNM2604 Assignment 3 (COMPLETE ANSWERS) semester 1 2025 DUE 30 April 2025; 100% correct solutions and explanations.QUESTION 1.1………………………………………………………………………………��.4 Based on the market segmentation principles in chapter 5, formulate a microsegmentation strategy for Lungilicious fresh indigenous juice, using seven variables in the micro-segmentation…………………………………………………………………………… 4 QUESTION 1.2…………………………………………………………………………………..4 Based on the product positioning process in chapter 5 of the textbook. Describe six steps in the product positioning process (You will receive 6 marks for the theoretical discussion of the steps in the product positioning process). Indicate how Lungilicious should practically apply the steps in the product positioning process to distinguish itself in the market…………………………………………………………………………………………….4 QUESTION 2…………………………………………………………………………………….4 Using the pricing process outlined in chapter 8 of the textbook and learning unit 7 in the study guide, describe three pricing objectives that Lungilicious may consider if they plan to increase prices for their fresh juice made from indigenous fruits and herbs……………………………………………………………………….……………………..4 QUESTION 3…………………………………………………………………………………….4 Using the pricing process outlined in chapter 8 of the textbook and learning unit 7 in the study guide, describe three pricing objectives that Lungilicious may consider if they plan to increase prices for their fresh juice made from indigenous fruits and herbs. (You will receive 1 mark for the theoretical discussion of each objective). Explain the pricing objective that is employed by Lungilicious……………………………….…………….……..4 QUESTION 4…………………………………………………………………………………….4 Using the branding elements outlined in chapter 11 of the textbook. Lungilicious is planning to enhance branding of its juice products. Provide a practical explanation of eight tangible brand elements that Lungilicious should consider for juice products……………4 CONCLUSION…………………………………………………………………………………..5 List of References……………………………………………………………………………..5 Page numbers must be changed/ edited upon completing the assignment. INTRODUCTION You must provide an introduction for your assignment and highlight issues that will be discussed in the assignment. QUESTION 1 (18 marks) 1.1 Based on the market segmentation principles in chapter 5, formulate a microsegmentation strategy for Lungilicious fresh indigenous juice, using seven variables in the micro-segmentation. You will receive 7 marks for explaining each variable of micro-segmentation in your own words). 1.2 Based on the product positioning process in chapter 5 of the textbook. Describe six steps in the product positioning process (You will receive 6 marks for the theoretical discussion of the steps in the product positioning process). Indicate how Lungilicious should practically apply the steps in the product positioning process to distinguish itself in the market (You will receive 6 marks for the practical application). QUESTION 2 Based on the product life cycle in chapter 6 of the textbook, provide a practical discussion of the five stages in the product life cycle (PLC) (You will receive 5 marks for the practical discussion). Identify the stage Lungilicious is at in the PLC and justify your answer using evidence from the case study (2 marks will be awarded for practical application). QUESTION 3 Using the pricing process outlined in chapter 8 of the textbook and learning unit 7 in the study guide, describe three pricing objectives that Lungilicious may consider if they plan to increase prices for their fresh juice made from indigenous fruits and herbs. (You will receive 1 mark for the theoretical discussion of each objective). Explain the pricing objective that is employed by Lungilicious (You will receive three marks for the explanation) and justify your answer using evidence from the case study (You will receive 2 marks for the practical application). QUESTION 4 Using the branding elements outlined in chapter 11 of the textbook. Lungilicious is planning to enhance branding of its juice products. Provide a practical explanation of eight tangible brand elements that Lungilicious should consider for juice products (You will receive 8 marks for the practical application). CONCLUSION Provide a conclusion to summarise this assignment.