This preliminary stage, students need to have surface understanding of roles of Marketing. The assignment is not more than 6 page paper. It begins with identification of a target market and ends with analyzing market attractiveness using BCG Matrix. The following are the instructions:
Choose an organisation that does marketing.
Choose an organisation that you are familiar with and you are able to observe the marketing efforts.
If you choose a large organisation that markets many different products, it is very important for you to choose only a product or product line. For example, if you choose Protons, do not address the entire car model, be more specific, choose a model.
If you have trouble choosing an organisation, go to the mall, surf the net, or look in the yellow pages, you are surrounded by marketing organisations.
After choosing an organisation, your next step is to identify and describe the target market for the products(s) about which you are writing.
Try to be more specific in your in your description.
Try to pinpoint the thing(s) that make(s) the target market respond to the firm’s marketing mix in ways that are different from people who are not members of it.
For example (Product Shampoo A brand): target market is “young mid-to-upper class women who wash their hair, perceive that they might have a dandruff problem, who are motivated by prestige and glamour, who like to pamper themselves and are willing to pay a little extra to do it.”
A good statement lets you say who is in the target market and who is not.
Now, assess the market attractiveness for the company using BCG Matrix.
Difference product may focus on difference market. For example: Proton stopped the production of proton Tiara which happens to fall in the dog Quadrant.
Draw BCG Matrix, decide the right product in the right quadrants, and suggest a simple marketing effort relating to the quadrant.