Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5. Marketing Strategy (S, T, D and P) and Recommendations (20 marks) This section outlines the proposed segmentation, targeting, differentiation and positioning of the innovative

image text in transcribed
5. Marketing Strategy (S, T, D and P) and Recommendations (20 marks) This section outlines the proposed segmentation, targeting, differentiation and positioning of the innovative product/service and should be forward looking. Target market segments should be clearly defined. The product should be clearly differentiated from its competitors and a positioning statement must be recommended. 6. Marketing Mix (the 4 P's) and Recommendations (20 marks) This section outlines the recommended Mix - Product, Place, Price and Promotion - for the innovative product/service. Product branding, packaging, labelling and support (augmented) services should be succinctly and clearly described. A recommendation on strategy for sustaining the product life is well made. Channel types and levels need to be described with a clear diagram. A recommendation on a more effective channel shows relationship of product to market to channel. The pricing strategy (one of the 5 main) is to be defined with examples. Promotion analysis use examples to outline the Theme and Appeal of future promotions

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managing Controlling and Improving Quality

Authors: Douglas C. Montgomery, Cheryl L. Jennings, Michele E. Pfund

1st edition

471697915, 978-0471697916

More Books

Students also viewed these Marketing questions

Question

Explain the different types of leadership.

Answered: 1 week ago

Question

1. Identify three approaches to culture.

Answered: 1 week ago

Question

2. Define communication.

Answered: 1 week ago