MNM3701 Assignment 2 (DETAILED ANSWERS) Semester 1 2025 - DISTINCTION GUARANTEED

MNM3701 Assignment 2 (DETAILED ANSWERS) Semester 1 2025 - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED Answers, guidelines, workings and references ,...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 current doing on the following: • Segmentation (any that is applicable 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 Downloaded by Corona Virus () lOMoARcPSD| MNM3701/102/3/2024 9 You also need to make recommendations to the SMME provided for each section. 2 Step 4 – Plan direction, objectives and marketing support. Explain these concepts theoretically and apply them to the SMME in practical terms by determining the overall direction for the marketing plan, consistent with the SMME's current situation and customer segments selected. Formulate objectives for the SMME and indicate how customer service and internal marketing support the company's marketing-mix decisions. Note to students: For this section, your discussions should include brief theory and detailed practical discussion of what the SME is current doing on the following: • Plan direction (substantiate one) o Diversification o Market development o Product development o Market penetration • SMART objectives (set for each type) o Marketing o Financial o Social • Marketing support o Customer service o Internal marketing support for employees You also need to make recommendations to the SMME provided for each section. This is a practical assignment, so do not simply present the theory; apply and relate it in practical terms to the SMME provided. Please refer to the marking rubric to ensure that you provide the correct amount of theory and practical discussion. Only minimal theory is required. The bulk of the assessment should be practical.