2024 – Semester B Strategic Marketing RBP020L061S
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.
- What % of marks (if any) are awarded for presentation of work and referencing: 10%
- Word limit:3500 max excluding references and appendices
Your final report should include the following sections
Part 1: Introduction and Product/Service Description (10%)
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 (20%)
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) (20%)
- 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) (30%)
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 (10%)
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.
A further 10% of your grade is allocated to presentation and referencing (10%)
