Detailed clear instructions, as well as the full question, can be found in the attached file. They must all be followed as requested.
Full situation explained:
You are the newly appointed marketing manager for First Choice Bank Limited, a local financial institution that offers a wide range of
financial services. Growth of the Bank’s 4C’s branded Credit Card portfolio has been declining for quite some time and recent
exploratory research conducted by the company suggests that your 4C’s brand is no longer price competitive. From your study of
marketing, you think that a reconsideration of the market segmentation used previously to better understand the target consumer might
be the key to this dilemma.
Full Questions to be answered within the essay:
a) What is market segmentation? Describe the basic conditions required for effective segmentation. (10 Marks)
b) From your own investigation of an organization like yours, you discover that many marketers of Credit Cards in those
organizations sharpen their marketing strategy by adopting a multivariate demographic segmentation (i.e., combining two or more
demographic variables) approach. Using examples, explain why and how such a segmentation approach might be used to inform
strategy in attempting to resolve the sales decline. (8 Marks)
c) What pricing strategy or strategies might work best with your suggested segmentation approach to recover this situation and
why? Illustrate your argument with examples. (12 Marks)
Breakdown of further details required in the essay:
1) Introduction. This will give the reader some context on the general topic area, as well as a preview of what is to come in the
essay. In this section, make sure to define key terms. Please provide scholarly literature to back up your definitions.
2)Discussion (Solving Problems, Explanations, Sources of Evidence, Proposed solutions). The following information should
be included:
Segmentation. This should include but is not limited to the following:
• Discuss what segmentation is.
• Conditions for effective conditions.
• Examples should be included
Assessment of Segmentation method. This should include but is not limited to the following:
• Discussions on multivariate demographic segmentation.
• Explanation on why and how such a segmentation approach might be used to inform strategy in attempting to resolve
the sales
• Examples must be included.
Assessment of pricing strategy.
o Discussion on pricing strategy or strategies which might work best with the suggested segmentation approach to
recover this situation
o Why would the strategies suggested work? Arguments must be included.
o Examples must be included
3) Conclusion. The conclusion should capture the essence of what was discussed in the essay, rather than simply summarizing the
points raised. Draw conclusions about the scenario and in the information included in the paper. It is important to note that you
should not introduce/include new information that has not been discussed in the essay.
4) APA and Writing Skills. Your report should include references from at least twelve (12) sources, which should be clearly
identified in the body of the report and in your reference list in accordance with the APA 7th edition referencing style. It is
important to note that at least six (6) scholarly peer-reviewed journal sources should be included. This is available through UWI
Linc or Google Scholar. Failure to use scholarly sources will have an impact on the quality of your essay and, as a result, your
grade. For typographical/grammatical errors, points will be deducted.
All references must be appropriately cited both in the body of the essay as well as in a reference list at the end, using the American
Psychological Association (APA) 7th edition format.
You should not simply copy and paste information from the text or readings but engage in critical analysis. You must include
examples to demonstrate your understanding of the subject matter. A total of at least 12 sources must be included with a minimum of
at least 6 scholarly peer-reviewed journal sources should be included in the paper.
5) Format and Presentation. Consideration will be given to the following: –
• 10-12 pages
• Title Page and report (in APA format)
• Table of contents
• Times Roman 12-point font
• Line Spacing – double with 1” margins on all sides
• Paragraphing
• Headings
The rubric can be found in the attachment.
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