MKT10007 - Fundamentals of Marketing SWINBURNE UNIVERSITY OF TECHNOLOGY SCHOOL OF BUSINESS MKT10007 - Fundamentals of Marketing Semester 1 - 2021 Assignment 4: Date of Submission: Student Name: Student ID: Total words: 1586 1 | Page
MKT10007 - Fundamentals of Marketing Table of Contents Introduction. 3 Part 1. Target Market Analysis 3 Part 2. Brand Extension and Product Strategy. 8 Part 3. Competitor and Positioning Analysis. 10 Part 4. Marketing mix 12 Conclusion 12 Reference. 13 2 | Page
MKT10007 - Fundamentals of Marketing Introduction SOLO, an Australian soft drink, is a well-known ready-to-drink version of traditional 'pub squash.' SOLO beverage is yellowish in color and has a lemon flavor, making it one of the most popular soft drinks to help Australian consumers quench their thirst. SOLO has been positioned itself as a highly masculine drink since its inception, and it can be seen to target mostly male consumers of various ages (Breke,2019). Part 1. Target Market Analysis Geographic Lives in Vietnam, which has one of the highest soft drink revenues in Asia and consumes more than 5000 million liters of soft drinks annually (Statista, 2021). Demographic · Identifies as a male. Socioeconomic Psychographic Behavioral Minh Nhat Nguyen Age: 19 Residency: Hanoi, Vietnam Occupation: First year undergraduate Major life goals: Have a stable career that involves mobile applications developing . Part of the 1.7 million students enrolled in higher education in Vietnam today (Nguyen, 2021). . Does not suffer from obesity along with 97.1% of the population (ProCon, 2020). Nguyen works 20 hours per week part-time for minimum wage. Nguyen is still living with his parents, who are the sole source of income. · Participates in university sports clubs and enjoys socializing with friends. · When he's out with friends or doing activities, he likes to drink soft drinks. . Prefers to buy cheaper items because they will save him more money. . Don't often care about the ingredients and believe that the taste is more important. · Prone to purchasing cheaper soft drink products and will not hesitate to switch products if cheaper alternatives are available. . If the prices of the products are equal, he tends to choose the ones he sees more in advertisements. 3 | Page