Reference no: EM133481177

Imagine any company of your choice or select your organisation where you are working. Assume the selected company has been developing a new product. Your marketing team has started doing market research, conducted prior to the development of the new product, indicated that it should be viable, will meet the needs of the target market and is going to be profitable. Many months have been spent working on product development, which has involved considerable cost input. You are the manager of a six person marketing team and have been advised, by senior management, that the product is almost ready for sale. An intense promotion and marketing campaign is required, backed up by a long-term marketing strategy. Plans have been drawn up and are ready for implementation. Considering the above case scenario answer the following questions:

Identify and explain briefly about the company and outline the various stakeholders of the company.

List down the Marketing Mix of the selected organisation covering the below elements:

a. Product and Services ? Brand, features, Variety, Packaging

b. Price ? Price Discount, Allowance, and Competitive Pricing Strategy

c. Place d. Promotion ? Advertising, Sales promotion, and direct marketing

Assume that the marketing team is newly formed and has not worked on a promotion like this before.

Explain what you, as team leader, could do to help the members:

1. Identify their goals, targets, responsibilities and relevant key performance indicators.

2. Communicate effectively and collaborate to form a cohesive, high-performing team.

3. Identify and access the resources that will be required for implementation of the plan.

4. Ensure that the people responsible for each element of the marketing mix work together to meet the organisation's marketing objectives.

5. Why is this necessary? Explain and justify your responses.

In some cases it is necessary to change business practices in line with changing customer requirements. Explain what this means and why it might be applied to a marketing team.