For example:

• TARGET MARKET

Answer:

1. You need to identify the correct target market(s) based on the following characteristics:

1. Demographic: human elements (age, gender etc.).
2. Psychographic: discuss your target market’s lifestyle and interests. You should discuss how a face covering product is relevant to their lifestyle etc.
3. Geographic: discuss your target market’s accommodation arrangements and location.
4. Behavioral: discuss how often they buy and use face covering, what type of face covering they buy, where they buy it from, how much they spend etc.

Please note: you need to identify and refer to your target market’s characteristics as much as possible.

1. After you have identified your target market, you should explain why you selected this particular target market in detail and your discussion should be strongly supported by relevant marketing theories.

For example: (THIS IS A HYPOTHETICAL AND NOT ACTIONABLE EXAMPLE – DO NOT USE THIS EXAMPLE)

My target market for the UIW face covering product is “ALIEN from MARS”. According to segmentation theory (MARKETING THEORY #1), segmentation is the process of………. The process of segmentation produces three different target markets: people from MARS, PLUTO and JUPITER. Based on the target market characteristics discussed above, people from MARS are our target market because……… (Kerin et al., 2009).

1. Write ¾ or max 1 page for the target market section.

This is how you need to write and submit your answer for section #2 and #3

In this section, you firstly need to conduct a product differentiation and positioning.

1. Product differentiation: you are required to differentiate your product. You can differentiate your pricing, packaging, product features etc.
2. Product positioning: you need to explain how you want your customer perceive or remember your product in their mind. For example, good quality but affordable, or luxurious and exclusive.

In this section, you secondly need to conduct a price analysis as shown below. Please remember, your product is a UIW face covering – you need to compare competitors’ face coverings that are similar or the same size.

For example:

• PRICING

Answer:

Brand A	Product details	$X.XX
Brand B	Product details	$Y.YY
Brand C	Product details	$Z.ZZ

1. Based on your information, you need to select at least THREE relevant pricing strategies and explain your rationale. More importantly, you need to support your rationale with relevant marketing theories.

For example: (THIS IS A HYPOTHETICAL AND NOT ACTIONABLE EXAMPLE – DO NOT USE THIS EXAMPLE)

The first pricing strategy is XXX pricing strategy. This pricing strategy refers to….. (MARKETING THEORY#1). By employing this pricing strategy, the UIW face covering will make a significant profit. This pricing also will attract the target market because……. According to Kerin et al. (2009), this pricing strategy also…..

The second pricing strategy is YYY pricing strategy. EXPLAIN

The third pricing strategy is ZZZ pricing strategy. EXPLAIN

1. You are required to offer THREE price adjustments.

For example: (THIS IS A HYPOTHETICAL AND NOT ACTIONABLE EXAMPLE – DO NOT USE THIS EXAMPLE)

The first pricing adjustment strategy is XXX. This pricing adjustment strategy will help make the UIW face covering more attractive. According to perception theory (MARKETING THEORY #1), this adjustment will comfort customers and at the same time maintain profitability…. Also, Kerin et al. (2009) suggest……..

The second pricing adjustment strategy is YYY pricing strategy. EXPLAIN

The third pricing adjustment strategy is ZZZ pricing strategy. EXPLAIN

1. You may need to write up to 1 page for section 2.

• Please remember, you need to follow the assignment instruction.
• Please use APA style for in-text citations and references.
• Please provide at least 3 external sources. Refer to https://www.cite.auckland.ac.nz/2.html. You will lose points if you do not include correct citations.
• Please read the grading matrix and ensure you understand what I am looking for.
• Please ensure you use business or marketing terminology. DO NOT use casual words.

please use this APA link for your reference: https://www.cite.auckland.ac.nz/2.html

You can use APA 6 or 7 format from this website.