Your task

For this task, you will need to gather information to develop a portfolio that includes:

a profile of the product or service market segment

a consumer profile for the product or service

an explanation of the alignment between the product or service and the consumer profile.

For this assessment, you will need to access information from a range of sources. You will need access to an organisational marketing plan. If you are not able to source a suitable marketing plan for your chosen product or service, you may be able to find a suitable one on this site: MPlans, <http://www.mplans.com>.

Complete the steps outlined below.

Steps

1.Choose a product or service that you want to market. Note that the product or service you select will also be the focus of your activities in Assessment Tasks 2 and 3.

2.Prepare a profile for your product or service, that includes:

a.a brief description of the product or service

b.an investigation of consumer need for the product or service through analysis of trends and past performance

c.a description of the current market - in particular, its current size in dollars and/or volume units.

3.Develop a consumer profile/avatar or market segment for your product or service, that includes:

a.geographic information - where a typical consumer lives and/or works

b.income information - household income of a typical consumer

c.status information - social class of a typical consumer, education level of a typical consumer

d.relationship information - family status (single, married, children/dependents) of a typical consumer

e.lifestyle or psychographic information - hobbies, interests and beliefs of a typical consumer

f.digital information - how a typical consumer engages with information online.

4.Prepare a statement that explains how the product or service aligns with consumer needs, that includes:

a.an explanation of how product or service features are tested with consumers - refer to your marketing plan for relevant information

b.information on pricing strategies that are appropriate for the identified consumers.

5.Compile all of your work into a portfolio. Include reference information to show where you sourced all of the information you used to develop your profiles and statement.

Evidence requirements

You must:

submit a portfolio that includes:

a profile of the product or service market segment

a consumer profile for the product or service

an explanation of the alignment between the product or service and the consumer profile.

submit all documentation in the format and within the timeframe agreed with your assessor.

Your assessor will be looking for evidence that you:

gathered and analysed information on a product or service market - using mathematical skills, oral communication skills, reading and analytical skills, and an understanding of organisational procedures

identified consumer attributes, with reference to a marketing plan

explained how the product or service features align with identified consumer needs.