– Current Market Situation:
• Brand: (1) where it originates from, (2) when it was introduced in the UAE, (3) existing product lines/items in the UAE
• Organization that markets the brand: (1) business activities, (2) date of establishment in the UAE, (3) structure and size, (4) strengths and weaknesses
• Market environment: (1) micro-environmental and macro-environmental factors that have the biggest impact on the brand’s existing product lines/items in the UAE, (2) major changes and trends that impact marketing decisions of the brand’s existing product lines/items in the UAE
– Market Description:
• Market for the brand’s product lines/items in the UAE: (1) define the market, (2) current size of the market, (3) future size of the market (4) who are customers buying them from, (5) customers’ current needs and wants, (6) potential changes to customers’ needs and wants
• Market segments: (1) define the existing market segments, (2) segments in which the brand’s existing product lines/items are offered, (3) potential changes to existing segments, (4) potential new segments
Market segmentation could be done using at least two variables. Target market for the brand/ product identified and described using at least two variables; use of more relevant variables will be graded higher
– Marketing Opportunities
• From the market information, infer the marketing opportunities for the brand in each of the existing and potential new market segments using the product/market expansion grid
• Decide whether to target existing market segments or potential new market segments by offering existing product lines/items or new product lines/items. Explain with reference to the market research.
– Analysis from market research (Charts are encouraged)
• Current brand/ product usage rate including usage of competitor brands/ products.
• Level of satisfaction with brand / product including competitor products.
• Reason for satisfaction with brand / product including competitor products. This may include elements of the marketing mix.
• the customers’ current needs and wants, (3) potential changes to customers’ needs and wants (based on your research)
• Include any other relevant information that you feel is necessary to explain the marketing opportunity.
• Identification of the marketing opportunity.
– Also, a questionnaire is needed:
• Prepare a survey questionnaire to determine: (1) customers’ current needs and wants, (2) potential changes to customers’ needs and wants, (3) existing market segments, (4) potential changes to existing segments, (5) potential new segments, (6) customer psychographics, (7) customers’ buying behaviour.