Prepare 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.

Description

“ Back in September, Spotify and Google have teamed up to give Spotify Premium users – the people who pay £9.99 a month to not have their tunes interrupted by ads – a free Google Nest smart speaker.

They could team up again with the Google and create the new product. Or either by themselves, but their previous collaboration, it could expand further and result in new smart speaker. “

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.

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, geo-demographic, 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.

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