Task:
Continuing on from Assignment 1, using the same product discussed in Assignment 1. a) Provide your description of the product & target market from Assignment 1 (for the benefit of the marker).
b) Consider each of the four Ps i.e. product, price, promotion and placement. Using the concepts you have learnt about describe how each is applied for your selected product and market. You need to cover these specific areas:
- Product type/ classification,3 levels of the product and product life cycle
- Channel structure and distribution intensity;
- Promotional tools used for the product & their advantages & disadvantages.
- Pricing objectives & pricing strategies.
* In each section include what is happening with your product for each concept (application) and how that relates to the course concepts (theory) *** If there are any specific factors that impact these decisions you should briefly discuss those. These factors might include something that is outstanding about this product or company. Such as - it is the market leader, or the industry is extremely competitive, or the product requires specialist handling, which impacts the distribution of the product. c) Develop some creative suggestions how the company might deal with the marketing mix for this product and market in the future. When you make a change to any part of the marketing mix (product promotion price or placement) you will need to consider how that will impact the remaining parts. Your ideas do not have to be economically viable or feasible in this case. This is your opportunity to have some fun with your product. Please note that the marking criteria for this part of the assignment focuses on your creative suggestions for improving the product offering.d) Complete a self-assessment relating to yourself (not the product). This is a very important part of the assignment.
- What did you learn about the assignment writing process and your ability to complete it?
- How did you use the feedback from assessment 1 to help you improve?
- What do you consider were your strengths and weaknesses in completing the assignment?
- What is your learning style and what things you learnt about yourself by doing this assignment that might be helpful for future assignmentsYou should also consider the material/ research you used to compile the assignment (what type of resources did you use and how did they help with writing this assignment).
e) Include a List of references and evidence of using a range of sources. Give in text references too.