Category | Coursework | Subject | Management |
---|---|---|---|
University | Sheffield University | Module Title | MGT6145 Marketing Management Practice |
This assignment is to create a detailed analysis of the UK sports nutrition market that will form the foundation for a marketing plan for a new entrepreneurial brand. In this phase, you only need to conduct a market analysis, not decide on a product. The analysis needs to cover four key areas. First, PESTLE analysis will consider the impact of external macro-environmental factors such as political, economic, social, technological, legal, and environmental trends. Then segmentation, which involves identifying three distinct consumer segments of the market that have different needs and behaviors. Then targeting, which involves choosing the best segment based on logical criteria and data analysis. Finally, Consumer Analysis will understand the needs and values of the chosen segment using models like the Hierarchy of Needs and the Theory of Consumption Values. All this together will provide a strong base for future marketing strategy.
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