Based on knowledge and understanding of the contemporary sports marketing environment, you are asked to devise a new sports product or service and justify your choice with reference to appropriate theory and contextual information.
You will deliver a description of your new product concept in the form of a project report also outlining your:
- target market – include evidence on the size of the market to justify the demand
- brand identity – Brand name, logo, slogan etc.
- launch strategy (e.g. how you will use the marketing mix elements in launching the new product/service)
- PRODUCT
- PRICE – Justify price and distribution strategy
- PLACE
- PROMOTION – production of at least one piece of marketing communications material (e.g. poster, TV/radio/online advert, press release). You should show your piece of marketing communications in the presentation and discuss, as part of the launch strategy, the other marketing communications tools that you would use. For example, if you are going to use social media, viral marketing, PR and radio advertising, you would produce one of those and then discuss how you’d use the others.
- Your ideas should be justified based on appropriate marketing theory and evidence, including primary (for e.g. questionnaires) and secondary research as appropriate.
- conclude with a discussion of how the product can grow and develop in the future. Again, this is an opportunity to draw on theory, for example, relating your discussion to the product life cycle or the Ansoff Matrix.
The project report should:
- Offer an engaging and relevant discussion of the product, target market, brand identity and launch strategy;
- Provide a theoretically- and research-underpinned, relevant justification of ideas;
- Make use of high-quality visual aids.
Mostly Journal articles and at least 20 sources
