,MNM3701 Assignment 2 (COMPLETE COMPULSARY
ANSWERS) 2025 - DUE 14 April 2025 ;
Before answering the question, ensure that you: • Read and
work through the correct case study for the semester. • Work
through units 4 and 5 in the study guide. • Conduct additional
research on the required topics. QUESTION In Assignment 01,
you analysed the current situation, markets, and customers (steps
1 and 2 of the marketing plan). In this assignment, your task as
marketing manager of the SMME is as follows: 1 Step 3 – Plan
segmentation, targeting, and positioning. Start by discussing
these components theoretically and then apply them practically
to the SMME. Advise how the SMME can segment the market,
and which segments it should focus on. Explain how the
company can position itself in the market to attain a competitive
advantage. Remember to motivate your suggestions. Note to
students: For this section, your discussions should include brief
theory and detailed practical discussion of what the SME is
currently doing on the following: • Segmentation (any that
applies to the market served) o Individual customers
(geographic, demographic, psychographic, behavioural) o
Business customers (demographic, operating, purchasing
approaches, situational factors, personal characteristics) •
Targeting (substantiate one) o Undifferentiated o Concentrated o
Multisegmented • Positioning (substantiate the selected one(s)) o
Attribute o Benefit o Application o User o Competitor o Product
category o Quality o Price, etc.
For Step 3 of your marketing plan, which involves
Segmentation, Targeting, and Positioning (STP), I will break
down these concepts, explain them briefly in theory, and then
, apply them practically to the SMME (Small, Medium, and
Micro Enterprise). Let’s use a bakery as a hypothetical SMME
example to demonstrate the concepts, as this can easily be
applied to various other businesses as well.
Segmentation:
Segmentation is the process of dividing a broad consumer or
business market into subgroups of consumers who have
common needs, interests, and characteristics. It allows the
business to focus its marketing efforts on those groups most
likely to purchase its products or services.
There are four main types of segmentation:
1. Individual Customers Segmentation:
Geographic Segmentation: Dividing the market based on
location, such as region, city, or neighborhood.
o Practical Application: For the bakery, geographic
segmentation would involve identifying key areas
where the business is most likely to attract customers
(e.g., nearby neighborhoods, business districts, or
areas with heavy foot traffic). The bakery might offer
different products or marketing campaigns based on
the local area (e.g., seasonal items for holidays
specific to certain areas).
Demographic Segmentation: Dividing the market based
on age, gender, income, education, family size, and
occupation.
ANSWERS) 2025 - DUE 14 April 2025 ;
Before answering the question, ensure that you: • Read and
work through the correct case study for the semester. • Work
through units 4 and 5 in the study guide. • Conduct additional
research on the required topics. QUESTION In Assignment 01,
you analysed the current situation, markets, and customers (steps
1 and 2 of the marketing plan). In this assignment, your task as
marketing manager of the SMME is as follows: 1 Step 3 – Plan
segmentation, targeting, and positioning. Start by discussing
these components theoretically and then apply them practically
to the SMME. Advise how the SMME can segment the market,
and which segments it should focus on. Explain how the
company can position itself in the market to attain a competitive
advantage. Remember to motivate your suggestions. Note to
students: For this section, your discussions should include brief
theory and detailed practical discussion of what the SME is
currently doing on the following: • Segmentation (any that
applies to the market served) o Individual customers
(geographic, demographic, psychographic, behavioural) o
Business customers (demographic, operating, purchasing
approaches, situational factors, personal characteristics) •
Targeting (substantiate one) o Undifferentiated o Concentrated o
Multisegmented • Positioning (substantiate the selected one(s)) o
Attribute o Benefit o Application o User o Competitor o Product
category o Quality o Price, etc.
For Step 3 of your marketing plan, which involves
Segmentation, Targeting, and Positioning (STP), I will break
down these concepts, explain them briefly in theory, and then
, apply them practically to the SMME (Small, Medium, and
Micro Enterprise). Let’s use a bakery as a hypothetical SMME
example to demonstrate the concepts, as this can easily be
applied to various other businesses as well.
Segmentation:
Segmentation is the process of dividing a broad consumer or
business market into subgroups of consumers who have
common needs, interests, and characteristics. It allows the
business to focus its marketing efforts on those groups most
likely to purchase its products or services.
There are four main types of segmentation:
1. Individual Customers Segmentation:
Geographic Segmentation: Dividing the market based on
location, such as region, city, or neighborhood.
o Practical Application: For the bakery, geographic
segmentation would involve identifying key areas
where the business is most likely to attract customers
(e.g., nearby neighborhoods, business districts, or
areas with heavy foot traffic). The bakery might offer
different products or marketing campaigns based on
the local area (e.g., seasonal items for holidays
specific to certain areas).
Demographic Segmentation: Dividing the market based
on age, gender, income, education, family size, and
occupation.
