Assignment task: Please read the entire assignment.
In this assignment, you will assume the role of a marketing consultant tasked with rebranding an existing business and developing a comprehensive marketing plan to enhance its market presence, reach, and profitability. You will analyze the current state of the business, identify opportunities for rebranding, and create a strategic marketing plan that encompasses various aspects of marketing, including branding, positioning, promotion, and distribution.
Assignment Objectives:
1. Analyze the Current Business Landscape:
- Conduct a thorough analysis of the current business's strengths, weaknesses, opportunities, and threats (SWOT analysis).
- Evaluate the business's current brand identity, market positioning, and target audience.
2. Rebranding Strategy Development:
- Propose a rebranding strategy that aligns with the business's mission, vision, and values.
- Justify the need for rebranding based on market trends, competitive analysis, and consumer insights.
3. Brand Identity and Positioning:
- Develop a new brand identity, including a refreshed logo, color palette, and tagline.
- Define the business's unique value proposition and positioning within the industry.
4. Marketing Mix Strategy:
- Determine the optimal marketing mix (product, price, place, and promotion) for the rebranded business.
- Provide rationale for the selected marketing mix elements based on market research and consumer behavior.
5. Digital and Traditional Marketing:
- Design a comprehensive marketing communications plan that integrates both digital (social media, email marketing, influencer partnerships) and traditional (print, TV, radio) channels.
- Outline specific campaigns or initiatives to create buzz and awareness during the rebranding launch.
6. Distribution and Channel Strategy:
- Evaluate the existing distribution channels and propose any necessary changes or additions to improve product/service accessibility.
- Discuss the advantages and disadvantages of different distribution strategies (direct, indirect, online, offline).
7. Budget Allocation and Resource Planning:
- Allocate a budget for the rebranding and marketing efforts, including detailed cost estimates for each marketing initiative.
- Outline resource requirements, including personnel, technology, and external partnerships.
8. Performance Measurement and Evaluation:
- Define key performance indicators (KPIs) to measure the success of the rebranding and marketing plan.
- Develop a plan for ongoing monitoring and evaluation of the marketing efforts, including adjustments based on KPI results.
Submission Requirements:
Your assignment should include a comprehensive report (of at least 1000 words) that covers all the aspects mentioned above. Use at least 6 scholarly sources, industry reports, and relevant case studies to support your recommendations. A corresponding PowerPoint presentation should also be included with this submission.