Assignment Task
Learning Outcomes
Students must demonstrate the ability to:
LO1: Identify the role, importance and scope of marketing and marketing environment.
LO2: Understand and describe the importance of business and consumer behavior and decision process.
LO3: Identify and demonstrate the relationship between the marketing mix elements.
LO4. Understand the consumers and market environment in the current market trends.
LO5. Demonstrate good understanding on business and consumer behaviors and decision making steps.
LO6. Demonstrate the relationships of marketing mix elements in the markets.
Question
As a marketing manager who is working in a multinational organization, you are required to prepare a marketing development report for a new product to be produce by your manufacturing company.
Prior to the designing and launching of the new product, you have to conduct a marketing research to identify the feasibility of market the new product. The marketing research report should consist of critical analysis on market segmentation, target market strategies and positioning strategies.
You are required to provide relevant justifications for the selected marketing strategies.
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Marketing Research report should include:
1. Introduction – background of the company (company history) and new product design (description of the new product)
2. Market Segmentation analysis for the new product design (geographical, demographic, behavioral and psychological segmentation analysis) and justifications.
3. Target Market strategies – types of targeting strategies and justifications
4. Positioning strategies – types of positioning strategies and justifications
5. Future Recommendation – in related to marketing mix elements
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