B6-MARKET-A16-I1 PRELIMINARY MARKETING PLAN ASSIGNMENT ANSWERS
- PRELIMINARY MARKETING PLAN ASSIGNMENT
This assignment requires that you select a company that sells a product that you are familiar with and then base your answers on the chosen company and the chosen product. You are required to develop a marketing plan for your chosen product using secondary data you have researched. In the plan you should include:
- Short background of the company its mission and vision
- Products and Services being offered by the company. – description of the product portfolio and the specific product of your choice.
- Outline the marketing objectives of your chosen product. (10 marks)
- Target market analysis
- Describe in detail the profile of the target market for your chosen product
- Explain the type of demand which is associated with that market (use the various demand states). Justify
- The general needs in the market and how the product is meeting those needs (10 marks)
- Micro and macro environmental analysis
- Explain the most macro environmental actors which will affect the marketing strategy and justify why they are critical.
- Explain the most critical micro environmental actors which will affect the marketing strategy and justify why they are critical. (40 marks)
- Marketing strategy
- Describe in detail the marketing mix strategy (4Ps or 7Ps) and how you will blend it to suit the marketing objectives. (20 marks)
- Describe any Two growth strategies that the company can use to grow the product market share. (Use Ansoff matrix, integrative or BCG matrix based strategies) (10 marks)
- Explain the segmentation criteria to be used for the company to suit the market needs (10 marks)
N: B You have to gather information on the company using sources such as the financial press, company websites, journals ,books etc. Remember to provide a list of resources used/accessed at the end of the assignment.