NAME & SURNAME: THANDO DLAMINI
MODULE: MARKETING
MODULE CODE: MART5122
ASSESSMENT TYPE: ASSIGNMENT 1
DATE: 17 OCTOBER 2023
QUESTION 1
SWOT analysis is a strategic planning tool used to assess the strengths, weaknesses, opportunities,
and threats of a business venture.
Strength
- It is something that a business does well, that gives it a competitive advantage over
competitors in delivering its products or services.
- According to the squash court venture, the fact that the squash court is well-maintained can
be a significant strength.
- It can attract players who value a clean and high quality facility.
- Competitive membership fees, friendly services and package deals.
- For example, financial resources, image, market leadership, skills and intuitive knowledge
can be sources of strengths.
Weakness
- Something that can be seen as a defect or flaw in the internal controls of the business that
increases the risk of failure and reduces the quality of a product or service delivered to a
customer
- According to the squash court venture, location on the outskirts of town. Being on the
outskirts of town may pose a challenge in terms of accessibility. It may be harder to attract
players who live in the city center or other more convenient locations.
- As a new squash court, there might be a lack of awareness among potential players.
- Facilities, financial resources, management capabilities, marketing skills and brand image can
be sources of weaknesses.
- For example, a business that does not have sufficient funds available cannot afford to
undertake a large-scale marketing communication campaign.
Opportunities
- Are a set of circumstances providing the business with a situation which can be exploited to
its benefits.
- According to the squash court venture, fast developing area. The fact that the area is fast
developing presents an opportunity for growth.
- As more people move into the area, there is a potential for an increase in the customer base.
- Lack of competition in service offerings, by offering friendly service and package deals, the
squash court can differentiate itself from the rival court and attract players who value these
additional offerings.
- For example, the identification of previously overlooked market segment, changes in
competitive or regulatory circumstances, technical changes, and improved buyers or
suppliers relationships.
Threats:
- A factor or circumstance that poses an imminent risk that could potentially cause harm to
the business.
- According to the squash court venture: competition from the rival squash court, despite the
lack of service offerings, the rival squash court may still have an established customer base. It
could pose a threat in terms of retaining or attracting players who are already loyal to the
rival court.
- Changing market dynamics: the market for squash court may fluctuate due to factors such as
changing interests, economic conditions, or the emergence of new sports or recreational
activities. These changes could impact the demand for squash court services.
- A threat is a major unfavourable element in a business’s environment that can lead to the
failure of a product or service or ultimately of the business itself.
- For example, Changes in the consumer market, an unexpected increase in competition,
problems with suppliers, punitive legislation, recession or an unfavourable rate of exchange.
( CANT, 2021: 51-52)
QUESTION 2
According to CANT( 2021: 42) consumer market consists of individuals and households who buy
goods and services for personal consumption.
Types of customer markets/ consumer markets are:
1. Customer markets
- consists of individuals and households who buy goods and services for personal
consumption.
- For an example, a retail stores, online marketplace, and direct to customer sales by
businesses.
2. Industrial markets or business-to-business markets:
- Are made up of organizations that buy goods and services for further processing or for use in
manufacturing processes.
- For example, a whole distribution, manufacturers, and suppliers of raw materials .
3. Reseller markets:
- Buy finished products and resell them to their customers for the purpose of making a profit.
- For example, grocery stores, department stores and specialty stores, such as home
improvement or pet supply stores.
4. Government markets
- Buy goods and services to produce public services or to transfer these goods and services to
others who need them.
- For example, procurement contracts for office supplies, construction materials, and
technology products.
5. International markets
- Are foreign buyers, including consumers, producers, resellers and governments.
- It is where businesses sell products or services outside of their home country.
- For example, online marketplaces like Alibaba and amazon, as well as direct-to-consumer
sales by businesses with a global presence.
QUESTION 3
CANT ( 2021: 80) states that the prerequisite for effective market segmentation are:
- Measurable – How many potential customers are in each segment.
- Identifiable – Identifying the potential market in each segment.
- Accessible- Enable the marketer reach the target market though appropriate marketing
efforts.
- Substantial- Lead to segments that are worthwhile serving.
- Meaningful- The bases used for segmentation should lead to segments with different
preferences and needs and should show clear variations in market behaviour.
Market segmentation is the process of diving a larger market into smaller groups or segment
based on specific characteristics, needs or behaviours.
It allows businesses to better understand and target their customers by tailoring their
marketing efforts to each segment.
Market segmentation is important because it allows businesses to tailer their products,
services, and marketing efforts to specific customer groups, increasing the likelihood of
success.
It also helps businesses to identify new opportunities for growth and to allocate resources
more effectively.
QUESTION 4
- To select and target specific markets, Amantungwa Readymix company can conduct market
research to identify the demographics, needs and behaviours of their ideal customers.
- This research can help the company understand the preferences and behaviours of their
target market, such as their age, income, education level, and buying habits.
- Once the company identifies their target market, they can use various marketing strategies
to reach them.
- These strategies could include social media marketing, email marketing, content marketing,
search engine optimization and pay-per-click advertising.
- To effectively reach their target market, Amantungwa Readymix company can also consider
partnering with influencers and businesses that have a large following within their target
market. This can help the company gain exposure and credibility within the market.
Some approaches that can be used include:
- Segmenting the market: dividing the target market into smaller segments based on
demographic, geographic, psychographic, or behavioural characteristics. This allows for more
targeted and personalized marketing efforts.
- Creating buyers personas: develop fictional representations of the ideal customers, including
their demographics, interests, motivations, and pain points. This helps tailor marketing
messages and strategies to resonate with the specific audience.
- Utilizing digital marketing channels: leverage various digital channels such as social media,
search engine optimization, email marketing and content marketing to reach the target
market effectively.
- Building relationships: focus on building relationships with customers through personalized
communication, providing value added content, and delivering exceptional customer service.
This helps in creating brand loyalty and repeat business.
- Monitoring and analysing results: continuously monitor the effectiveness of marketing
efforts and analyse data to make informed decisions and optimise strategies for better
results. (CANT, 2021)
References
CANT, M., 2021. Marketing Management: A South A frican Perspective. fourth ed. Cape Town: s.n.
