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MKT306 Marketing Strategy

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Question:

Upon successful completion of this assessment, students will be able to have demonstrated:

Knowledge and Understanding

  • Explain the nature of marketing strategy and its significance for the organisation.
  • Assess the drivers and factors affecting the choice of marketing strategies.
  • Evaluate appropriate models and techniques that aid the strategic marketing process.
  • Analyse contemporary marketing issues and problems in a strategic context.
  • Research skills.
  • Interpretation of advanced information and marketing data handling skills.
  • Assessing communications skills to develop effective relationship marketing.

The task is divided into two parts (Part 1 & Part 2) and candidates are expected to address both.

Your task is to identify a brand of facial cosmetics and then analyse, evaluate and prepare an individual report of 3,500 words (+/- 10%) addressing the following issues.

  • Using appropriate sources undertake a full marketing audit of your chosen category and brand. Include an evaluation of the current marketing strategy and position in the market.
  • Provide a critical evaluation of the brand’s competitive edge (USP) with comparison to the main competitor brands in the marketplace. Demonstrate the brands effectiveness by providing an evaluation of their current market performance in relation to their competitor’s. This should include relevant market performance data to underpin your evaluation, for example market growth, sales trends, profitability etc.
  • [Weighting - 50%]
  • Based on your Part 1 analysis provide the rationale for the introduction a new product to the range.
  • Outline the features / benefits of the new product.
  • Identify target segment/s.
  • Set clear marketing objectives(SMART) to launch a new product with the aim of increasing brand awareness, market share, sales and/or profitability.
  • Recommendations - with application to the marketing mix, recommend a relevant marketing strategy to addressing the marketing objectives.

These suggestions should be your own ideas but may include marketing tactics and strategies used by other successful organisations or companies.

Your arguments, findings and recommendations should be supported by theories, facts and figures published within academic books, journal articles, recognised business magazines and market intelligence reports.

N.B.Please note the maximum word count excludes Appendix and References. Assignment Structure:

This is an individual assignment as a single report in two parts. Candidates are encouraged to be creative with their analysis and recommendations by using theories covered in the lectures and workshops.

The below is the structure that candidates must follow for this report: Part 1.

  • Environment analysis
  • Evaluation of current marketing strategy
  • Analysis of the organisations competitive advantage
  • Product rationale and specification (Anatomy of a product, BCG Product Portfolio Matrix)
  • Segmentation Targeting & Positioning (STP)
  • Recommend marketing objectives and goals
  • Identify appropriate marketing strategies, based on the application of the marketing mix to your chosen product / brand.
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My Assignment Help (2021) Marketing Strategy [Online]. Available from: https://myassignmenthelp.com/free-samples/mkt306-marketing-strategy/environmental-management-and-firm-competitiveness.html
[Accessed 21 April 2021].

My Assignment Help. 'Marketing Strategy' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/mkt306-marketing-strategy/environmental-management-and-firm-competitiveness.html> accessed 21 April 2021.

My Assignment Help. Marketing Strategy [Internet]. My Assignment Help. 2021 [cited 21 April 2021]. Available from: https://myassignmenthelp.com/free-samples/mkt306-marketing-strategy/environmental-management-and-firm-competitiveness.html.


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