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Implementation plan for a new or improved product

Assignment Help Marketing Management
Reference no: EM133500075 , Length: word count:3500

Strategic Marketing

Title - For further module description see Module Brief

Assessment - Report Plan

Instructions for assessment

The mode of assessment: A written report on the design of a marketing strategy and implementation plan for a new or improved product or a service of your choice underpinned by academic and professional literature. The proposed product must be marketed by an existing, well-known company.

Part 1: Introduction and Product/Service Description

A brief description and rationale for introducing the new or improved product or service that is the focus of your report. Agree your choice with your tutor by week 3.

Part 2: A Critical Analysis of the Market Context
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)

• What base(s) of segmentation you have used and why?
• Include size, geodemographic, 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)
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
This section should discuss issues related to implementation such as co-ordination between different departments and the role of internal marketing, as well as resources and capabilities required to implement your chosen marketing strategy.

Referencing - You must use the Harvard System.

Reference no: EM133500075

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