Description
Scenario:
You should assume the same role in the report as that which you adopted in the presentation (Marketing Manager). In this scenario you (personally) receive an invitation from the Brand Manager of the new product/service to demonstrate that you can critically evaluate the current proposition and develop an appropriate responsible marketing strategy that will enhance the potential and the reputation of the product and the brand. You have been asked to write a report to review and discuss how the key elements of marketing strategy and its application to practice would be instrumental in considering the future launch and success of your product/service when it goes to market, and the means by which evaluation and control on those strategic decisions could be made.
The Brand Manager is a practitioner not an academic and has expressed an interest in how the theory you learned as a Responsible Marketing Strategy student has led you to your conclusions and can inform, and be applied to, the practical process of new product development. Therefore, whilst the assignment requires academic underpinning you are required to use a combination of theory and practical examples in your report.
More specifically, the areas you have been asked to address in your report include:
Task 1 (50 marks): 1500 words
As an introduction to the report you should provide a brief re-cap/summary of the new product/brand which you delivered during the presentations, why this can be considered as a solution to a sustainability challenge, and discuss and justify (if applicable) any amendments which you would/could make to the original proposal for the product/service.
Subsequently, using the Marketing Mix (4Ps/7Ps) you should identify and justify which strategies and metrics, would be appropriate within each element of the Marketing Mix,
Your focus should be on adhering to the principals of Responsible Marketing when developing your strategies and explain how this can help you reinforce the point of difference which is needed to maintain a sustainable competitive advantage in the long term.
More specifically, for Task 1 you are asked to cover the points below:
1.Brief recap/justification of new product and any amendments
2.Identification of Responsible Marketing objectives and relevant target segment
3.Product Strategies and appropriate metrics
4.Pricing Strategies and appropriate metrics
5.Promotion Strategies and appropriate metrics
6.Place Strategies and appropriate metrics
If relevant you can also consider:
7.People Strategies and appropriate metrics
8.Process Strategies and appropriate metrics
9.Physical Strategies and appropriate metrics
Task 2 (30 marks): 1000 words
Choose ONE of the following Marketing areas that we covered in our lectures. After doing some independent research and reviewing the relevant literature (not only the information provided in our sessions) explain the relevance and application of this marketing topic for your Product/Brand and how it can support the development and implementation of your Responsible Marketing Strategy. You can choose ANY of the following topics to discuss:
1.Digital Marketing Strategies
2.Branding Strategies
3.Behavioural Science Strategies
Additional marks (20 marks): Criticality and Referencing
The detailed assessment criteria used to establish the actual mark for this assignment are provided in the Appendices, however, additional marks are allocated to students who demonstrate due diligence in the preparation and composition of the following in the individual components:
Critical evaluation/appraisal (10 marks): Critical evaluation and appraisal of the literature and relevant marketing theories relating to Responsible Marketing and the issues under review; demonstration of marketing awareness and the application of Responsible Marketing theory to practice in tasks; appropriate incorporation of theory; academic rigour; creativity.
Referencing (10 marks): Scope, range and use of reputable sources including academic journals and reliable industry specific sources; market intelligence; use of citations/sources in body and Appendices; APA style; References page correctly
