You are required to select a global brand of interest to you that is relevant to the course for the purpose of conducting a segmentation analysis and from that analysis develop an outline strategic marketing plan to build the brand.In general terms you are to give consideration to:Segmentation,Target Market,Positioning,and develop an outlineIMC strategy for the brand around the marketing and promotional mix as appropriate for the selected target market(s). You will need to develop 7 questions along the lines discussed in module 8: questions should elicit variation.Collect data from other students in your class using any software such as SurveyMonkey, Qualtrics or Google Forms. You may, if you wish, collect the data ‘by hand’ through interview or email.Conduct the segmentation analysis using SPSS (see Canvas for instructions); identify the segments; calculate the cluster centroids (i.e. the arithmetic mean for each question/variable for each cluster you identify). Again, see Canvas for instructions. Based on the means for each variable in each of your clusters, you are to describe and evaluate the clusters; select a target marked and justify your selection based on your findings; develop a basic outline (bullet points is sufficient) IMC strategy to position your brand that will be favorable to the target market.Your work should be presented in report format and contain a:
1. Brief introduction:Include here why this report is worth reading – i.e., what is the ‘takeaway’ for the reader. Assume your reader is a part of the brand marketing team.
2. Brief methods section:Include here what method you used to segment.
3. Analysis and results section:Include your DendrogramInclude all the clusters / segments you selected from your Dendrogram and their membership. Account for all cases in the cluster solution.Include a single table showing the cluster / segment arithmetical means for each cluster for each variable (question) as set out below in the example
4. A very brief discussion section:In this section, discuss your findings in 3 above. Interpret the findings for the reader.
5. Marketing implications and recommendations section:Include a table of recommendations as per the Hispanic bank example (see below).Given your limited data, state your marketing recommendations based on 3 and 4 above.Set out an outline (bullet points is sufficient) IMC strategy for each recommended target market.
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