ASSIGNMENT TITLE
Marketing Mix Strategies refers to the planning and executing of marketing tools related to a particular product or service which aims to produce a desired response from its target market.
BRIEF ASSIGNMENT DESCRIPTION
Imagine you work for marketing firm producing Fast Moving Consumer Goods. You have been asked to produce a report to launch a new range of consumer products that your company has selected. You may select any products that falls into the category of foodstuffs, toiletries or personal care products.
DETAILED ASSIGNMENT DESCRIPTION
Your target consumer would be a new target segment (male, female, married or single, old or young, rich or poor, children or no children, etc.) that the company is currently not yet selling to.
Describe the segmentation variables/personal characteristics of the type of consumer you have chosen. Explain this consumer's needs (for example, in relation to product, price, taste and health benefits).
Your task would be to suggest the marketing mix strategies for the selected product range to target the new segment. You may include in illustration of your marketing mix strategies such as graphics or posters in the appendixes. However, ensure that the appendixes that goes at the end of your report does not exceed 10 pages.
Throughout this assignment it is VERY important to refer to research sources and academic texts and journals that back up your argument. These must also be referenced.
The report should include the following elements:
1. Introduction
Introduce the product (must be in FMCG) or the product range that you have chosen to be the focus of your assignment. Explain the current target segment of the product that you have selected.
2. The Characteristics of the new target segment
Identify and discuss the characteristics(cultural, social, personal and psychological characteristics) that would affect this consumer's behaviour when making this purchase. You need not describe all 4 characteristics - rather pick one(s) that is/are most relevant and one(s) which you can substantiate with credible sources.
Select a new consumer group that you would like to target. You should justify your selected target segment and include market positioning.
3. Marketing Recommendations
Based on your discussion and analysis from section 2, provide marketing suggestions and recommendations for marketers who want to target this particular consumer. You are therefore expected to show the marketer's perspective (business perspective) by showing how marketers can prepare for, deal with or impact the decision-making process. Include researched examples where appropriate.
Your marketing mix strategies must be logical and practical. Your report must include4Psproduct strategy(ies), pricing strategy(ies),promotion strategy,place strategy,communication strategy(ies) and distribution strategy (ies).
Sequences of the report materials
i. Introduction
ii. Characteristics of the new target segment
iii. Marketing Recommendations
INSTRUCTIONS TO STUDENTS
i. Your assignment should be typed using 12 point Times New Roman font and 1.5-line spacing.
ii. Your assignment should be around1700 words excluding references.
iii. References must be in and Harvard reference system provided in-text citation