Chocolate bar:
What it needs to be is a fictitious brand for a fictitious company that is due to be launched into an existing (i.e. real) market in the UK.
The final report should consist of a well-integrated and carefully planned proposal for what strategies, tactics and evaluation methods are recommended to the board of directors in order to successfully launch the brand. The report will sell your ideas to management.
Overall, this is a practical assignment, so stay in your role at all times. Although your final ideas should clearly be based on theory, and theoretical concepts need to underpin your plan, this is a practical task where the application of theoretical concepts and models is important, but describing or explaining such models is not.
Our budget is £1.5 million. You don’t have to budget for every penny of this, just a broad breakdown of how you suggest it is spent is fine.
This report should address the following topics:
External (environmental) analysis
Overview of the key ICEDRIPS factors/trends in which the firm operates
Market/ Competitor analysis:
Size & growth potential of overall market;
Market share, key strengths & weaknesses of major competitors
SWOT analysis
Major drivers
SMART objectives
Objectives need to be Specific, Measureable, Actionable, Realistic, Time bounded
Selection and justification of target market(s)
Profile of target consumer
Positioning concept
In relation to the competition
The Marketing Mix:
• Brand: Identity; core benefits/functions & augmentation; brand personality; packaging, etc.
• Distribution: policies for channels and customer service levels
• Pricing: pricing policies in relation to competitors and positioning concept
• IMC: overview of suggested advertising strategies, use of social media, and other IMC support tools
Overview of control and evaluation mechanisms
• Outline the ways you intend to check that your plan has met objectives