SITXMPR007 - DEVELOP AND IMPLEMENT MARKETING STRATEGIES

1.A company profile (the organisation's image and culture) can be useful when determining market thrust or target markets. Why is this and how can this be of assistance?

2.In order to understand your market you will need to build a company profile by finding and analysing answers to questions.

Explain how you would find answers to each of these twelve questions (dot points or one-sentence answers;

a. How long has the company been running for?

b. Is the company physically separated over a number of sites?

c. How many staff does the company employ?

d. What is the age range of the staff?

e. Are they mainly full-time, or do some work casual or part-time?

f. Do employees in the organisation work a lot of overtime or, is this discouraged?

g. How do they communicate internally; face-to-face or through email and an intranet system?

h. How is the company structured; is there a hierarchical structure or is the company non-hierarchical?

i. What are the work ethics/ values promoted within the organisation?

j. Does the business utilise the latest technology and marketing approaches, or do they tend to use more traditional approaches?

k. What sets them apart from their competitorswhat is your point of difference?

l. How are they perceived by the marketplace (eg youthful, prestigious, respected, ethical, environmentally supportive)?

3. How would the answers contribute toward understanding the company's market thrust?

4.Complete the table with six more questions that could be asked. State why they are important.

Question

Reason for asking

5.Explain how market segmentation can be applied to market research.

6.How does segmentation assist with market research?