MARKETING MANAGEMENT ASSESSMENT
Title: Critical Evaluation of the Contribution of Current Marketing Management Theory and Practice
CONTEXT -
The category : 'Healthy Snacks'.
- Organisational context: Natural Balance Foods -Trek and Nãkd are the two branded product ranges produced by this manufacturer.
- The company positioning statement is
"We're a young British company devoted to increasing world happiness with yummy healthy snacks, humour and helpfulness. that means we make delicious, good-for-you munchies, do our best to help others, and try to spread a little joy along the way".
- (Natural Balance Foods, 2018)
Your role: a new Marketing Manager for the organisation.
Task: Evaluating the potential market opportunity and making recommendations for the launch of a completely new and appealing fast brand in a country of your choice. The brand will sit within the Natural Balance Foods portfolio.
PART 1:
This element of the assessment assesses your knowledge of marketing theory in an applied context.
- Consider the knowledge you have gained in the module - business philosophies and marketing concepts discussed in lectures, seminars , text books and guided reading. Choose a range of key theory for example; the marketing concept, market orientation, holistic marketing and relationship approaches. This is applied discussion therefore theory should be referenced.
- Consider whether these marketing approaches are these visible in the organisation's current marketing activity? In this section you are evaluating the marketing activity of the existing brands - Nakd andTrek . They have a similar philosophy (hence the mission statement) therefore select relevant examples to highlight your points.
- Discussion in this section should demonstrate your understanding of how the current marketing activity creates value for the customer.
PART 2:
This element of the assessment assesses your ability to undertake research and use a wide range of relevant sources to provide insights into the healthy snacks.
You are tasked with researching and evaluating the dynamics and trends within the marketing environment.
- Be succinct - ensure you undertake a thorough environmental scan then synthesise this information reporting the important / significant points and insights - the issues that have direct relevance to this category (healthy snacks)
- As a result of the research you will produce a situational analysis identifying the key drivers in the market - they key factors that underpin the potential opportunities and challenges for a new brand.
PART 2: SUGGESTED FORMAT
- External Environment you may wish to use the PESTLE framework to guide your analysis. You do not have to present the analysis in PESTLE format in your report. A synthesised overview of key external factors and how they are affecting this market WITH ALL POINTS REFERENCED IN THE BODY OF THE REPORT should be this aim. If you prefer to produce a referenced PESTLE analysis you will not be penalised for this approach. If the latter, then a short overview/ synthesis of the key points should support your PESTLE.
- Competitor Analysis - identify the main competitor brands - strategies /strengths of the competitors and any other important information. You may wish to present this as a table of information.
- Evaluate the organisational strategy and capabilities of Natural Balance - vision, mission, competitive advantage you should comment on the obvious organisational / brand capabilities / strengths and competitive strategy.
- Summarise: You could summarise the above in a SWOT analysis. Summarise the potential opportunities and challenges.
Your research should then enable you to identify and suggest the potential target market. Underpin this element with relevant STP theory.
You are expected to incorporate an outline for a market research proposal to explore your target market (this should be brief) however should demonstrate that you understand some of the approaches marketers can take when designing research.
You are not expected to undertake the market research.
PART 3:
This element assesses your ability to demonstrate application of marketing theory in decision making and planning.
In this section, in accordance with your knowledge of the marketing planning process you are being tasked with making appropriate recommendations to build a new sustainable brand.
This brand will sit within the Yum portfolio alongside the existing brands and shouldhave synergy with the Natural Balance brand.
You can choose and specify a country of your choice in which to launch the brand.
PART 3: SUGGESTED FORMAT
- Marketing Strategies: How and where are you going to compete. Outline the idea for the new brand. Rationale for the new brand (the link between Part 2 and 3 - the opportunity /gap in the market). Markets to be targeted. How will the brand compete. Positioning. Ansoff's Matrix.
- Marketing Objectives: Consider what you want to achieve? Begin by setting an achievable marketing objective (SMART TARGET). Ensure this is fits with your brand identity.
- Marketing Programmes: Provide a marketing programme for the new brand. This should demonstrate your ability to apply marketing theory to a specific target market in order to achieve your set objectives. Underpin your recommendations with application to relevant theory covered in the module (holistic marketing, 7p's, relationship approaches, branding). To achieve a strong mark in this section all recommendations should be theoretically underpinned and supporting discussion should focus on justifying how this approach will enable you to meet your objectives through satisfaction of the needs of your target market.
- Monitoring and Control: Provide a brief overview of how the recommendations will be monitored with regard to performance.
Word Count: 3500 words (+/-10%) excluding Appendix and Reference List.
Attachment:- Assignment File.rar