Assessment 2: Marketing Plan for a B2B Product

Task 1: Outline the target market for the selected B2B product and explain the relationship strategy for this specific target market

You are required to select a real life B2B product of a company of professional or career interest.

It is recommended that you select a product/company from those presented by your group member in assessment 1 (Diagnostic Report). However, you do have the option of selecting a new company altogether. (Be mindful that a good marketing strategy starts with a strong diagnosis of the market, as performed in assessment 1).

In this assessment (assessment 2), you are required to outline the target market, positioning, marketing mix, and evaluation of key performance indicators, for a proposed marketing plan.

In addressing the tasks, you are required to use relevant theories and concepts as well as data and facts to show their application.

Assessment 2 is comprised of the following tasks:

1. Outline the target market of the selected B2B product – explain the relationship strategy for this specific target market, to grow the business of the selected product.

2. Outline the SWOT analysis for this business.

3. Develop marketing objectives for this product.

4. Formulate the position strategy, for this product – outline the core competency that the business has in the industry. Formulate the possible positioning statement for this product, considering: the target market, core competencies, and reason to believe.

5. Describe the product mix.

6. Describe the service strategy for this product – outline the customer’s service need for this product. Detail the service strategy required to meet the customer’s service need for this product.

7. Formulate a new marketing distribution channel strategy for this product.

8. Formulate a corresponding pricing strategy for this product.

9. Explain the IMC strategy for this product - Select at least two IMC tools to supportthis product and explain the rationale of using these two tools.

10. Outline how the marketing plan will be evaluated - Outline the key performance indicator/s (KPI/s) for this product. Outline the evaluation plan against the KPI/s.