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Define target market and identify tactics marketing mix

Assignment Help Marketing Management
Reference no: EM133457540 , Length: word count:4000

The brief:

Acting as a Marketing Consultant:

Launch a product or service of your choice onto the UK market in 2022/23 or 2023/24 and sustain it for 12 months.

You must not choose a product or service that is already on the market, UNLESS you are planning a substantial repositioning and rebranding of that product or service. Consider one of the following:

a particular product or service
a product or service range
an event
another aspect which requires communication to a user / customer
Students are expected to discuss all elements of the marketing or services mix.
In business it is important to be concise, and relevant. The word count of this report will help you develop these skills.
The assessment should be submitted via Turnitin in week 15 (Wednesday 2nd March, 12 noon).

The report should have three (3) parts.

Part 1: Analysis of the Market & Objectives
Analyse the current market (competitors, environment - internal/micro, external / macro)
Identify objectives (corporate and marketing) / key performance indicators

Part 2: Strategy, Target and Tactics/Actions
Set a strategy
Define target market
Identify tactics (marketing mix)
Address sustainability issues

Part 3: Measurement and control
What resources are required?
How will strategy be implemented?
How will success be measured?

Apply theory
Explain and justify your choices
Include the following:
An analysis of the internal and external environment
Your targeting strategy
SMART objectives
A discussion of the relevant aspects of the marketing/services mix
Definition of relevant and justified controls and measurements (Key Performance Indications and Critical Success Factors).
Analysis of issues of sustainability and how these might be addressed
A timeline for the campaign period and budget breakdown of expenditure.

Divide your report into the following sections:
Situation
This is your analysis of the environmental situation (internal and external)

Objectives
What you specifically want to achieve. There should be at least 3. They should be SMART

Strategy
This describes the broader thrust of your objectives, and your long-term plan

Target
This describes the group(s) of consumers at whom who you will aim your marketing (think STP).
Actions & Budget

This is what you will actually do in terms of pricing, branding, distribution, communications etc (Include budget, and actions timeline)
Measurement & Controls

This outlines how you hope to measure your success

A 4,000 word (+/-10%) report (worth 100%). Assessments that exceed the 4,000 (+10%) word limit will be capped at P1. The American Psychological Association (APA) 7th Edition referencing style must be used throughout your report.

Reference no: EM133457540

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