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Frequently Asked Questions
Q. 1) Part 2 Marketing Audit Criteria Ratings Pts This criterion is linked to a Learning Outcome Market Segmentation, Targeting, and Positioning 40 pts Full Marks 0 pts No Marks 40 pts This criterion is linked to a Learning Outcome Product Strategy 40 pts Full Marks 0 pts No Marks 40 pts This criterion is linked to a Learning Outcome Pricing Strategy 20 pts Full Marks 0 pts No Marks 20 pts This criterion is linked to a Learning Outcome Promotion Strategy 50 pts Full Marks 0 pts No Marks 50 pts This criterion is linked to a Learning Outcome Distribution Strategy 20 pts Full Marks 0 pts No Marks 20 pts This criterion is linked to a Learning Outcome Concluding Comments 20 pts Full Marks 0 pts No Marks 20 pts This criterion is linked to a Learning Outcome Overall Writing 10 pts Full Marks 0 pts No Marks 10 pts Total Points: 200
Demographics: Age, gender, income level, and occupation. Psychographics: Lifestyle, values, and interests. Behavioral Aspects: Usage patterns, brand loyalty, and purchase behavior. Geographics: Location, climate, and regional preferences. Impact of Targeting and Positioning: Effective targeting ensures reaching the right audience, while strong positioning creates a unique identity, fostering brand recognition and loyalty.
Q. 2) What are the key factors that influence market segmentation in your chosen industry? How can effective targeting and positioning impact a brand's success?
Consumer Needs: The product meets functional and emotional requirements. Market Trends: Incorporates innovation and sustainability. Differentiation: Unique features, superior quality, or additional services compared to competitors.
Q. 3) How does your company’s product strategy align with consumer needs and market trends? What product features differentiate it from competitors?
Reflection of Value Proposition: Aligns with perceived quality and brand image. Customer Perception: Competitive yet reflective of premium positioning if applicable.
Q. 4) What pricing strategy does your company use, and how does it reflect the brand's value proposition? How does it impact customer perception?
Effective Communication: Tailored messaging through advertising, PR, and social media. Methods: Digital campaigns, influencer collaborations, and events are highly effective for engaging audiences.
Q. 5) How does your company’s promotion strategy effectively communicate the brand’s message to its target audience? What methods are most effective?
Channels Used: E-commerce platforms, retail stores, and direct sales. Accessibility: Ensures product availability in key markets with minimal barriers.
Q. 6) What distribution channels are being used for your product? How do these channels ensure accessibility for customers?
Enhance digital marketing efforts for wider reach. Optimize pricing strategies to balance value and competitiveness. Expand distribution channels to underserved regions. Innovate products in line with emerging consumer preferences.
Q. 7) Based on the marketing audit, what are the key recommendations for improving the overall marketing strategy?
Assessment: The report should present insights in a structured, concise, and visually engaging manner, using charts or visuals where necessary.
Q. 8) How would you assess the overall clarity and coherence of the marketing audit report? Does it communicate key insights effectively?
Engagement Methods: Loyalty programs, personalized recommendations, and responsive customer service. Impact: Strengthens relationships and fosters repeat business.
Q. 9) What strategies does your company use to engage customers, and how does this affect brand loyalty?
Social Media: Drives engagement and brand awareness. SEO: Enhances website visibility in search engines. Content Marketing: Builds trust and authority through blogs, videos, and guides.
Q. 10) How does your company utilize digital marketing techniques such as social media, SEO, or content marketing to enhance brand visibility and customer acquisition?
Strengths: Identify areas where the company excels compared to competitors. Opportunities: Focus on gaps in the market, such as untapped segments or innovative technologies.
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