You would need to develop a new marketing strategy that is targeted to the new market that you have identified in A1.
1)For your Product strategy, you can recommend to the company to develop a new market offering/product or modifying their current product portfolio to better serve the new target market that you have identified in Assignment 1. You can also even come up with a new sub-brand if need be. The key is what product that would better serve the new target market from Assignment 1.
2)For your Promotion strategy, you need to recommend which one or ones out of the five elements of the IMC that would best suit to communicate the new product or market offering to the new target market.
3)For your Pricing strategy (if you choose this element), if you proposed a new product or sub-brand, then you would need to develop new pricing strategy based on the new product pricing theory. However, if you recommended they stay with their existing products but selling to the new market, then you would need to discuss the three major pricing strategy.
The workshops mentioned on the left are really important to help you to do your A2. Hence it is imperative for you to do them in-class, guided by your lecturer. These workshops will show you the most important highlights of the topics. Your lecturer will mark this workshop in-class as you go, and the marks will be out of 10 marks, which will be part of your A2 marks.
Background Summary of Assignment 1:
In the provided template for Assignment 2, briefly identify your proposed:
Mix analysis and discussions
recommendations for the company of what new product strategy that would best serve the new target market and be in harmony with the new positioning strategy developed in A1. What should they change in their product elements, so they can attract the new target market? Shall they introduce a new product? New sub-brands? Modify their current products? How and why?
Using one (1) of the remaining four elements, three (3) marketing mix elements, please provide:
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