ritically analyse (come up) new or improved product or service that is the focus of your report ( based on 5 requirements mentioned in the paper details that should be fully analysed in the report .
Part 1: Introduction and Product/Service Description (10%) A brief description of the new or improved product or service that is the focus of your report. Agree your choice with your tutor by week 2. Part 2: A Critical Analysis of the Market Context (20%) Include a brief analysis of the market: Key market trends (e.g. growth trends) Who are the key competitors and how are they positioned? Summarise the current customer attitudes/behaviours in this market Identify the main issues / opportunities you think are relevant including social and/or ethical issues (if relevant) Part 3: Segmentation, Targeting and Positioning (STP) (20%) What base(s) of segmentation you have used and why? Include size, geo-demographic, psychographic etc. Summarise the profile and persona of your target market and, if not a completely new product, how is the target market different from the segment(s) targeted in the past? Include a statement that identifies why your target market should buy your improved product or service– i.e. what benefits it now offers and what problems it solves? Part 4: Your Recommended Extended Marketing Mix (given your analysis above) (30%) Traditional marketing mix elements: Product (include, for example branding and packaging and service quality) Pricing Strategy Promotional Strategy including Digital Media Channel or Distribution Strategy Services marketing mix elements (where appropriate): Process Physical evidence (e.g. including essential and peripheral evidence, servicescape etc.) People (including role of customer in the value creation process as well as employees and/or relationship marketing challenges) Part 5 A discussion of Implementation Issues (10%) This section should discuss issues related to implementation such as co-ordination between different departments and the role of internal marketing, as well resources and capabilities required to implement your chosen marketing strategy.
Essential Reading
Kotler, P. Armstrong, G., Harris, L. C. and Piercy, N.. (2017) Principles of Marketing. 7th European edn. Harlow, Essex, England: Pearson. Recommended Reading
Baines, P., Fill C., and Rosengren, S. (2016), Marketing – Paperback – – Oxford University Press ( Baker, M., & Saren, M. (Eds.). (2016). Marketing Theory: A Student Text (Third ed.). London: Sage.
Brennan, R., Baines, P. and Garneau, P. (2008) Contemporary strategic marketing. 2nd ed. Basingstoke: Palgrave Macmillan.
Hooley, G. J., Piercy, N. and Nicoulaud, B. (2017) Marketing strategy & competitive positioning. 6th ed. Harlow: Financial Times Prentice Hall.
Jobber, D. and Ellis-Chadwick, F. (2016) Principles and practice of marketing. Eighth edition. London: McGraw-Hill Education.
Kerin, R. A. and Peterson, R. A. (2013) Strategic marketing problems: cases and comments. Thirteenth edition. Harlow, Essex: Pearson Education Limited
McDonald, M., Wilson, H. and ebrary, Inc (2011) Marketing plans: how to prepare them, how to use them. 7th ed. Chichester, West Sussex, U.K.: Wiley. Kingsnorth, S. (2016) Digital Marketing Strategy: An integrated approach to online marketing. London: Kogan Page
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