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MKT306 Marketing Strategy

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Question:

Your task is to identify a brand of facial cosmetics and then analyse, evaluate and prepare an report.

Part 1:

  • 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.

Part 2:

  • 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.
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