Reference no: EM132893924 , Length: word count:3600
Assessment Task: Marketing Strategy
Details of task: The purpose of this assignment is for you to demonstrate your understanding of marketing theory and its application in practice. This assignment requires you to integrate marketing theory with a "real world" context to test students ability to apply relevant marketing concepts in a practical setting.
Board games (e.g. "Gloomhaven", "Codenames", "Monopoly" etc.) were one of the hottest selling product categories in 2020. Your task is to come up with an idea for your own board game (you can base your idea on any existing board game you like) and then, drawing extensively on your knowledge and understanding athe_BIEMKL1,501 course content, provide a Marketing Strategy for that board game. Your Report should cover the following topics:
1. What is the value proposition for your product? In other words, what benefits will it offer, and what "costs" are involved in buying/using it?
2. What elements of the Macro-Environment will have the biggest influence on your Marketing Strategy? Why?
3. Who is the target market for your product?
4. What is your positioning strategy for your product?
5. What is your product strategy? This strategy should actually comprise a host of sub-strategies such as; (a) what product features will you offer and why?; (b) what brand name will you give to the product and why?; (c) what form will your product packaging take and why?
6. What is your price strategy?
7. What is your place strategy?
8. What is your promotion strategy?
Word limit: Approximately 3500-4000 words
Format: APA style, Report format. In this specific case, your Report should comprise the following sub-headings:
1. Executive Summary (approximately 250 words)
2. The Value Proposition (approximately 500 words)
3. Analysis of the Macro-Environment (approximately 500 words)
4. Identifying the Target Market (approximately 500 words)
5. Identifying the Positioning Strategy (approximately 250 words)
6. The Marketing Mix (approximately 2000 words): This should actually be divided up into four separate sub¬sections: Product, Price, Place and Promotion strategy. However, for now, these four sections have been placed under the one heading of Marketing Mix. This is because how you wish to allocate the remaining 2000 words of the Report across these four marketing tools is entirely up to you. For example, if the key focus of your marketing strategy is on Product strategy, you may wish to allocate the lion's share of those 2000 words to that particular section.
7. Reference list (not included in the word count).