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Assessment 1: Digital Literacy Module (DLM) (0%) 

Due Date: Week 3, Friday 23rd March 2018 @ 5:00pm AEDT 

Failure to complete this task fully and completely by the due date and time will result in you being  unable to submit assessments 2 and 3, and therefore forfeiting 60% of your final grade in this Unit. 

Assessment 2: Segmentation, Targeting, Differentiation and Positioning Strategy (20%) 

750 Words (+/- 10%) 

Due Date: Week 6, Tuesday 17th April 2018 @5:00pm AEST 

Late Submission Penalty: If the assessment is submitted late without an approved extension from  the Unit Chair, a marking penalty of 5% of the available marks will be deducted each day for  up to five days. If the assessment is submitted more than five days after the due date it will not be  marked and will be awarded zero (0%) for the task.  

Word Limit Penalty: If the assessment exceeds the word limit 5% of the available marks will be  deducted for every 10% that the word limit (750 words + 10%) is exceeded by. 

Students who submit their assessment on time will be provided with written feedback and marks on  CloudDeakin by Wednesday 9th May 2018 @ 5:00pm AEST.

Assessment 3: Marketing Strategy Recommendations (40%) 

1500 Words (+/- 10%) 

Due Date: Week 10, Tuesday 15th May 2018 @5:00pm AEST 

Late Submission Penalty: If the assessment is submitted late without an approved extension from  the Unit Chair, a marking penalty of 5% of the available marks will be deducted each day for  up to five days. If the assessment is submitted more than five days after the due date it will not be  marked and will be awarded zero (0%) for the task.  

Word Limit Penalty: If the assessment exceeds the word limit 5% of the available marks will be  deducted for every 10% that the word limit (1500 words + 10%) is exceeded by. 

Students who submit their assessment on time will be provided with written feedback and marks on  CloudDeakin by Tuesday 5th June 2018 @ 5:00pm AEST.

Background

The older audience is often under-appreciated in the literary world, and is regarded as an audience which is set in their way. Meanwhile, most literary works are targeted towards a younger, or specific family-based demographic (Philips, 2016). However, research reflect that marketers need to understand that this is a gratifying audience, which often appreciate change (Phillips, 2016). Through the course of the present review the marketing segmentation, positioning and targeting strategy for the book 50@50 is studied. The book is ideally targeted to an audience between the 50-60 years age group, such that they can learn and be entertained from the experience and lessons of the people aged in the similar group (Balkhi, 2016).

Market Segmentation

As per a review conducted by Purinton-Johnson (2013), there is a need for the marketers to mature, and realise that with the passage of time, people want to be engaged, and hence they are not restricted by the preconceived notions alone. In the present case, the USP of the product is the nature of the book. The author has interviewed a specific demographic, and through this interview an insightful, often relatable and expectantly inspirational book with light hearted moments has emerged. While insight about the evolving perspective of the audience is shared, it is recognized that there is a further need to understand the segment, for effective brand marketing (Gavett, 2014). In which sense, the present study advocates a need to the demographic segmentation, attitudinal segment, generational segment and psychographic audience is targeted (Wedel and Kamakura, 2010).

The primary segment targeted here will be the demographic segment, where the rationale will be age. This segment is more likely to purchase the product, and is expected to have similar purchase habit (Purinton-Johnson, 2013). Further, the psychographic segmentation which will define the behaviour or the audience is advocated (Gavett, 2014). Lastly, the generational segmentation will be shared, where the audience is more likely to have a positive association with the like-aged and minded people (Philips, 2016).

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