Reference no: EM133050991

MSM7032 Creativity, Marketing and Enterprise - Cardiff Metropolitan University

Topic - Adventure Dining

Understanding the "changin times" is the theme of this assessment. You will be allocated, on a random basis, a current trend, theme or phenomena. You will need to investigate and reflect on this trend, theme or phenomena, and from this develop your own creative idea for a product or a service. Around this idea you will need to frame an appropriate marketing plan, and devise what you consider to be an effective marketing strategy.

There are two elements to your assessed work:

1. Market Trend Evaluation Report

In this 1500 word report you are required to explore the trend, theme or phenomena that you have been allocated. You are required in this work to identify what your trend is, where its origins might lie, where it is having an impact, and on whom, its implications in whatever form these might take, and its likely future development and growth.

2. Marketing Plan Once you have considered what new product or service you might provide within the context of your given trend, theme or phenomena, you are to produce a 3000 word marketing plan. A template for this is attached at the back of this assessment brief. Please note that the idea you come up with in this section must be your idea and not an existing product or service. You are welcome to adapt/refine existing ideas, but to simply describe a current idea, service or product in circulation will receive a zero mark. The requirement here is to find some originality in your thinking.

Marketing Plan Template

Please use this frame work for your Marketing Plan assessment task.

To establish your business, new idea or service, you need a marketing plan. The right marketing plan identifies everything from 1) who your target customers are to 2) how you will reach them, to 3) how you will retain your customers so they repeatedly buy from you. This framework will help you identify and focus upon these key elements.

Please remember that your Marketing Plan should be no more than 3000 words in total, including any appendix, but excluding your bibliography.

Section 1: Executive Summary
Complete your Executive Summary last, and, as the name implies, this section merely summarizes each of the other sections of your marketing plan.
Your Executive Summary will be helpful in giving yourself and other constituents (e.g., employees, advisors, etc.) an overview of your plan.

Section 2: Target Customers
This section describes the customers you are targeting. It defines their demographic profile (e.g., age, gender), psychographic profile (e.g., their interests) and their precise wants and needs as they relate to the products and/or services you offer.

Section 3: Unique Selling Proposition (USP)
Having a strong unique selling proposition (USP) is of critical importance as it distinguishes your company from competitors.The hallmark of several great companies is their USP.

Section 4: Pricing & Positioning Strategy
Your pricing and positioning strategy must be aligned. For example, if you want your company to be known as the premier brand in your industry, having too low a price might dissuade customers from purchasing.
In this section of your marketing plan, detail the positioning you desire and how your pricing will support it.

Section 5: Distribution Plan
Your distribution plan details how customers will buy from you. For example, will customers purchase directly from you on your website? Will they buy from distributors or other retailers? And so on.
Think through different ways in which you might be able to reach customers and document them in this section of your marketing plan.

Section 6: Promotions Strategy
The promotions section is one of the most important sections of your marketing plan and details how you will reach new customers.
There are numerous promotional tactics, such as television ads, trade show marketing, press releases, online advertising, and event marketing.
In this section of your marketing plan, consider each of these alternatives and decide which ones will most effectively allow you to reach your target customers.

Section 7: Online Marketing Strategy
Like it or not, most customers go online these days to find and/or review new products and/or services to purchase. As such, having the right online marketing strategy can help you secure new customers and gain competitive advantage.
The four key components to your online marketing strategy are as follows:
1. Keyword Strategy: identify what keywords you would like to optimize your website for.
2. Search Engine Optimization Strategy: document updates you will make to your website so it shows up more prominently for your top keywords.
3. Paid Online Advertising Strategy: write down the online advertising programs will you use to reach target customers.
4. Social Media Strategy: document how you will use social media websites to attract customers.
Section 8: Retention Strategy
Too many organizations spend too much time and energy trying to secure new customers versus investing in getting existing customers to buy more often.
By using retention strategies such as a monthly newsletter or customer loyalty program, you can increase revenues and profits by getting customers to purchase from you more frequently over time.
Identify and document ways you can better retain customers here.

Attachment:- Marketing and Enterprise.rar