MKT1001 ASSESSMENT 1 STUDENT NAME: ROJAN SUBEDI

STUDENT NUMBER: 0061072909

Task 1: Product and Organisation

Product
In this section, you need to describe the product. However, your selected product is
one item, and possible one item of many with the same brand name and name (e.g.
Nestle, Uncle Tobys, oats). Therefore it is not good enough to say for example Coca
Cola, as this product comes in many forms such as a range of bottle sizes, a variety
of flavours and in some cases only as a syrup as those served in fast food outlets
and hotels. So, for this part of Task 1, you need to be very precise such as, a 600 ml
plastic bottle of Coke Zero.

Product profile(section is expandable)

Briefly identify your product descriptor

Product Company name Brand Model

(e.g. laptop,
4WD, sporting
shoes)
Toyota Motor Toyota Yaris Ascent hatchback
Corporation 1.3L VVT-i engine
Car 4 speed Auto

References
Toyota. 2017. The
Toyota Yaris
Homepage.
[ONLINE]
Available
at: http://www.toyo
ta.com.au/yaris.
[Accessed 28
March 2017].

Task 1: Product and Organisation

Writing Task Product Description(section is expandable)

Having completed capturing the information about your product and organisation in
the template, draft a narrative below.Using the information and references above
write 1 paragraph that will later be used in your Power-point Script for Assignment 2
(see USQ Guidelines for correct in-text referencing technique).
My selected product is Toyota Yaris Ascent silver pearl hatchback 1.3L VVT-i engine 4
speed automatic transmission with the full driveway price of $16852. The other
descriptions of the product are:
15" steel wheels with full wheel cap
Halogen headlamps
6.1" colour touch screen display
Bluetooth[B5] connectivity
Steering wheel mounted controls
Reversing camera[B4]
7 SRS airbags
Optional Toyota Safety Sense including Pre-Collision Safety System (PCS)[B4], Lane
Departure Alert (LDA)[B4] and Automatic High Beam (AHB)[B4]
60/40 split fold rear seats (Toyota .2017)

Task 1: Product and Organisation

Organisation
For this area, you will need to understand the structure and type of organisation
producing your product. Specifically, you will need to understand the size of the
organisation by turnover, gross sale, market share, number of employees and years
of operation; and countries that it operates in as well as the status as a
conglomerate, multination, national or local organisation.

Upfront lets recognize that you are unlikely to get all this information. However, you
should be able to get most using the organisation website, or the parent company
website and most importantly using the library databases on company information.
Further, you will sometimes have to do some extrapolation of figures to establish
local market size etc.

Company profile(section is expandable)

Describe the company (including company/ or industry statistics such as:
company size; market share; annual revenue; years in operation; where
located) (see Ass 1 notes)

Company Size Mark Annual Company

(e.g. no. of employees; no. of countries) et Revenue Status
Share
11.0 $252,708, Multinatio
348,877 % 000 nal
global
marke
t
share
References

http://www.nasdaq.com/symbol/tm/financials
?query=income-statement
http://marketrealist.com/2016/05/toyota-
became-worlds-largest-automaker/
http://www.toyota-
global.com/company/profile/overview/
Task 1: Product and Organisation
Writing Task Company Background(section is expandable)

Having completed capturing the information about your product and organisation in
the template, draft a narrative below. Using the information and references above
write 2 or 3 paragraphs that will later be used in your Power-point Script for
Assignment 2 (see USQ Guidelines for correct in-text referencing technique).

The company background for the selected product is:

A Toyota motor is a multinational company which was established in 1937 in Japan
which operates its business all over the world which have 348877 employees
working globally. It also covers 11% of global market shares with the annual revenue
of $252,708,000(Toyota motors corporation. 2017.)

Toyota has 53 manufacturing Companies in 28 countries and regions outside Japan.

Among all the cars Toyota Yaris is one of the best car and only car in it class to offer
a hybrid vibrant (Toyota motors corporation. 2017.)
Task 2: Competitive environment
With this task the intent is to understand what other products in the chosen
marketplace compete with your selected product.

Competitive Situation (section is expandable)

Describe the main competitors for your selected product
(if there is no direct competitor describe indirect competitors -see Moodle book 2)

Description Competitor 1 Competitor 2 Competitor 3

2016 Nissan 2016 Ford 2016 Hyundai

Name & brand of product Versa Note S Fiesta S Accent SE
5MT Hatchback Hatchback

$15,095 $15,755 $15,830

Price:
One touch drive Covers warranty Combined fuel
Difference to your product power window for more km economy
(competitive advantage)

Is there anything Cheaper in Low Include front

significant to note about price maintenance knee airbags
the competitive situation? cost

References
https://www.buy https://www.buy https://www.buy
atoyota.com/en/ atoyota.com/en/ atoyota.com/en/
http://www.toyota.com/ya compare/17- compare/17- compare/17-
ris/2017/compare/summar yaris- yaris- yaris-
y/42504/42137/41032/421 accent.page accent.page accent.page
32

Task 2: Competitive Environment

Writing Task(section is expandable)

Having completed capturing the information about your products competitive

market in the template, draft a narrative below. Using the information and
references above write 1 or 2 paragraphs that will later be used in your Power-point
Script for Assignment 2. See the USQ Guidelines for the correct technique for in-text
referencing.

The competitive market for the selected product can be described as

Task 3: Segmentation and Target market description
In Moodle book 1, we define a market segment as - individuals, groups or
organisations with one or more similar characteristics that cause them to have
similar product needs.

As marketers, we need to segment the market of all possible users of the product we
have selected and target one segment. We do this for many reasons, but it basically
boils down to the fact that the organisation cannot service all markets.

In this section, you are required to look at your product, and segment the
marketplace for the product. In Moodle book 1 (Figure 1.8)you are exposed to the
six-step segmentation process. Step six of this process will be addressed in
Assessment 2. For this assignment, you will need to address the first five steps.

Step One: Select a market or product category for study

Step Two: Select relevant bases for segmenting the market
Step Three: Select segment variables or descriptors from each base.
Step Four: Profile and analyse possible segments
Step Five: Select the best segment as the target market

The table below will help you capture the necessary information to develop and
justify your target market.

Target market description (section is expandable)

Describe one (1 only) target market for your product using three
variables (also termed descriptors) from relevant bases.

Description Variable 1 Variable 2 Variable 3

EXAMPLE ONLY Base: Base: Base:

Demographic Demographic Psychographic
Variable: Variable: Age Variable:
Income Description - Personality
Description - 18-25 years Description -
$45000-$75000 VALS Segment
Experiencers
Demographic Demographic Psychographic
Base (i.e. what
bases do you think
are a logical way to
break up the whole
market geographic,
demographic,
psychographic,
behavioural)

Income Age lifestyle

Variable (also
termed descriptors)
(i.e. what
characteristics do
you think are logical
to group the
Market)
 $35000-$50000 18-60 Customers who
Description look fuel efficient,
(describe the specific high power engine
group of this
characteristic being capacity, interior
targeted) design and low
price.

Justification (see segmentation example on homepage)

Description Variable 1 Variable 2 Variable 3

This car is more This car is This car is best for

Justification appropriate for suitable for people who choose
Explain why targeted income target age group fuel efficiency as
these group who prefer customers. well as travel long
variables/descri to buy low price distance.
ptors are car with
relevant for advanced
this product in functions.
the given
market.

You may want

to use the four
criteria test for
a useful
segment 1.
Sustainability,
2.
Measurability,
3. Accessibility
and 4.
Responsivenes
s.
References

Task 3: Segmentation and Target market description

Writing Task(section is expandable)

Using the information and references above write a description of the market
segmentation process including a precise description of the target market as well as
your justification or rationale for using those variables (with in-text referencing).
These paragraphs will later be used in your Power-point Script for Assignment 2. See
the USQ Guidelines for the correct technique for in-text referencing.
My target market can be described as

The rational for choosing variable 1 is

The rational for choosing variable 2 is

The rational for choosing variable 3 is

Task 4: Describe the 3 levels of your product
One way a marketer can think about the product meeting the needs of the customer
is to break the product concept into three levels. These three levels can be called
core, actual and augmented.

Core is at best a description of the need or want being satisfied by the product for
the given target market.

Actual describes the attributes of the selected product as recognised by the selected
target market.

Augmented are the ancillary product attributes that facilitate and support the
attributes of the product that seem to provide value at the exchange for the
producer and the customer

Product Concept - 3 Levels of the Product(section is

expandable)

Descri Level 1 Level 2 Level 3

ption

Core product is the benefit Actual product is Augmented

Theor of the product that makes what the average product is the non-
y it valuable for the target person would think physical part of the
Descri market. of under the product. It usually
be the
generic banner of consists of lots of
levels
simply product. added value, for
, do which consumer
not may or may not
use pay a premium.
the
statem
ents
above.
Refer
to a
text
book
or
credibl
e
websit
e
Refer http://www.marketingteac http://www.marketi http://www.marketi
ences her.com/three-levels-of-a- ngteacher.com/thr ngteacher.com/thr
(*do product/ ee-levels-of-a- ee-levels-of-a-
not product/ product/
use
the
Moodl
e
book
as a
refere
nce)
Applic Toyota Yaris is a car made Customers can Toyota motors
ation with new technology and touch, do test provide Warranty,
Descri advanced function in drive, buy and any after-sales
be the cheap running cost and then collect car service, complaint
levels relatively low price. any time. handling, easy
of finance as well as
your
free guide and free
produc
t servicing for 5
specifi years.
cally
References
Task 5: List of References

It is very important that you learn to use the USQ Library Resources and you should
support your work with references from marketing texts and other credible sources.
However, you also need to be able to list these references correctly. Below develop
a List of References (for all sections above as per USQ Guidelines)

List of References
Marking Criteria Assessment 1
Weighting as a percentage of assignment mark
40%
Program Critical thinking &analysis
learning goals
1, 2, 3, 4
Assignment Sourcing of product and company
requirement information.
Incorporation of theory into relevant
sections of the assignment.
Critical thinking and analysis
A - HD Very good to thorough background
provided.
Very good to excellent incorporation
of theory throughout.
Demonstrates very good to excellent
critical thinking and analysis.
B Good background provided.
Some detailed needed. Incorporation
of theorycould provide more details in Would benefit from proofreading.
some areas. Demonstrates critical
thinking and analysis in most areas.
C Some background provided.
Insufficient details.
Demonstrates understanding of some
theoretical concepts.
Demonstrates critical thinking and
analysis in some areas.
F Product & company background given English writing requires work.
cursory overview, insufficient details
provided.
20%
Professional communication Knowledge and technical skills
Communicates effectively in written
form following requirements with
Correct use of English Language
use of relevant in-text references to
provide supporting evidence
use of relevant sources of
information in addition to course
content.
Writing is understandable with
correct use of English.
Correct in-text referencing
technique.
Excellent use of sources.
Appropriately formatted List of
References
Writing is understandable with use
of English.
Attempted in-text referencing,
technique requires more work.
Good use of sources, could use
more.
Includes List of References
Writing is understandable with use
of English.
Would benefit from proofreading.
Attempted in-text referencing,
technique requires more work.
Use of some resources, requires
more.
List of references needs work.
Either in--text referencing is absent
or technique is incorrect.
40%
Application of theory to the specified
product in the following sections:
identifies bases and associated
variables
clearly and succinctly describes
target market
justifies relevance of variables
applies 3 levels of the product
Excellent application of the
segmentation process for the selected
product.
Excellent application of 3 levels of the
product.
Good application of the segmentation
process for the selected product.
Good application of 3 levels of the
product.
Demonstrates basic application of the
segmentation process for the selected
product. More details required.
Demonstrates basic application of 3
levels of the product.More details
required.
Application of segmentation process
not covered sufficiently.
Application of 3 levels of the product
Discussion of theoretical concepts not Needs to use more references to not covered sufficiently.
covered. support.
Critical thinking and analysis not List of references not present or
evident. incorrectly formatted.