Choose a company. It can be a real brand or a made-up brand. It can be a well-known brand or a SME brand or a challenger brand. Define the nature of your business. Is it B2B or B2C or both? Your report will start by explaining the company/organisation background, highlighting the industry in which it operates, its product or services, how and where it operates and perhaps what are its vision and mission.
Now, imagine the CEO and CMO of the company is planning to improve the market share by investing in launching a new product or service. This can be a real-life opportunity or based on your own research
Now, picture yourself as the Marketing Manager of the company who has been asked to develop a marketing strategy for launching this new product into the market. Your recommended strategy will serve as the basis for your company to launch new product. Therefore, you are asked to develop a report answering the following questions
1) Conduct situation analysis including micro and macro environment and provide systematic review of the environment. Then apply those analysis to the marketing mix for your selected company providing a summary on the various elements. Ensure you ground your work in the relevant available literature, and cite this literature where appropriate within your report
2) Explain very clearly your company’s current segmentation, targeting and positioning and justify your proposed STP for the new product or service that you are planning to launch
3) Based on your environmental analysis in section 1 and proposed STP in section 2, you need to develop marketing mix, including integrated offline and online Go-To-Market campaign to launch your new product or service. This section will focus on execution – meaning how the strategy turns into a compelling proposition for the business by delivering a product launch campaign.
4) Impact assessment on the business as a whole: You need to identify how your strategy and plans will affect different functions in your company/organization, what preparations other functions/teams (Sales, Operation, IT, Customer service/relationship, logistics, supply chain, etc.) need to make and who are your key internal and external stakeholders?
5) Explain specifically the ethical challenges that your company and brand faces and portrait a clear solution to overcome those ethical challenges
You will need to document the process of developing the marketing strategy in the form of a 3,000 word report.
How marks are awarded:
Your report should have all the main sections of a business report, which could include):*
1. EXECUTIVE SUMMARY (approximately 3% of marks)
2. INTRODUCTION (approximately 4% of marks)
3. MARKETING AUDIT (approximately 40% of marks)
” Macro-environment (PESTEL analysis)
” Micro-environment analysis (customers, competitors)
” SWOT analysis
” Segmentation, targeting, positioning
4. STRATEGIC RECOMMENDATIONS (approximately 50% of marks)
a) MARKETING OBJECTIVES
b) MARKETING MIX DECISIONS
” Product, Promotion, Price, Place
c) IMPACT ASSESSMENT AND ETHICS
5. Conclusion (approximately 5% OF MARKS)
6. Reference list (approximately 3% OF MARKS
