Reference no: EM133016914

Choosing a Consumer Product for this Course

You are expected to choose an individual, specific consumer from an established organization with an established brand that you will focus on in the Course Assignments, Final Project and activities. Your product selection must be approved by your Open Learning Faculty Member before you start the first assignment.

When choosing a consumer product for the course, it must meet the following criteria:

Select an individual specific consumer product (tangible) of interest to you or with which you are familiar.

Select an individual specific consumer product (tangible) from an established organization and with an established brand in the marketplace.

Select an individual specific consumer product (tangible) with at least two direct consumer product competitors from established organizations and established brands in the marketplace.

Select an individual specific consumer product (tangible) you can improve by strengthening its brand equity and by updating its integrated marketing communication mix and activities.

You cannot select an individual specific consumer product (tangible) from an organization that you are currently working for or with or from an organization that you have worked for or with in the past.

Note
Submit a half-page/250 word Proposal to your Open Learning Faculty Member for approval of your product before you start Assignment 1.

In your Proposal, briefly describe the following:

The individual specific consumer (tangible) product's main features and price from an established organization and with an established brand in the marketplace.

The individual specific consumer (tangible) products of two (2) direct consumer product competitors with the same features and price as you chosen product that are from established organizations and established brands in the marketplace.

Why your main product equity needs strengthening and its integrated marketing communication mix and activities need updating.

The purpose of this assignment is threefold:

To demonstrate your understanding of the integrated marketing communication and brand concepts, terms and information discussed in Module 1

To demonstrate your ability to apply what you have learned by doing a Brand Audit for your approved consumer product for the IMC Plan.

To submit a proposal that explains why you think the market position of your product's brand needs to be enhanced through strengthening its brand equity and improving its integrated marketing communication mix.

Depending on your choice of a consumer product from an established organization with an established brand and target market, you should be prepared to visit retail outlets and other locations to explore how the consumer product/brand is reaching its target market. In addition, you also should be prepared to research the online presence of the consumer product/brand on the websites and social marketing sites that it uses. You may also interview colleagues, friends, and family to determine how the consumer product/brand is reinforced within the marketplace.

Instructions
Important: In answering the following assignment parts, it is critical to justify your answers from a marketing perspective. Grading is weighted heavily in favour of answers that refer back to and/or reference the course materials including concepts, terms, information, and outside sources. It is important to demonstrate your knowledge and understanding of the course materials in your reasoning about and application of them in the assignment.

Part 1: Overview of Product's Brand and Competitors

Length: Please write your response in essay and point form and limit your response to 2-3 pages using 1.5 line-spacing.

Questions: Answer the following questions.

Provide a description of your approved product's organization, product's brand and its two direct product competitors:

Organization

Product and its brand

Product and its marketing mix (product, price, place, and marketing communication and promotion).

Product category

Product and its brand two direct product competitors

Part 2: Introduction to Product's Brand Audit

Length: Please write your response in essay and point form or in a table and limit your response to 2 pages using 1.5 line-spacing.

Questions: Answer the following questions.

Complete a brand audit and determine what factors contribute to the performance and equity of the brand. In this audit, you must address the following:

What is the core proposition of the product's brand?

What do the stakeholders think about the product's brand?

Describe the marketing mix activities for the two direct competitors that influence your product's brand? Provide detailed information about the marketing communication and promotional activities, such as the offering of new brand extensions, promotions, co-operative advertising, sponsorship, etc. for the two direct competitors.

Part 3: Product's Brand Audit

Length: Please write your response in essay and point form and limit your response to 1-2 pages using 1.5 line-spacing.

Questions: Answer the following questions.

Perform a brand audit, by providing the following information about your product's brand:

Broad target market

Differentiation points

Positioning

Relevance

Identity

Relationships

Part 4: Conclusion
Suggested time : 2 to 2.5 hours

Length: Please write your response in essay and point form and limit your response to 2 pages using 1.5 line-spacing.

Questions: Answer the following questions.

Now that you have completed the brand audit, explain why you think the market position of the product and its brand needs to:

Strengthen the brand equity

Improve the integrated marketing communications strategy

Provide detailed answers that link back to your analysis from your Brand Audit.

Part 5: Report Structure and Presentation
Ensure you structure and present your assignment in formal manner suitable for business.