GUIDELINES

Taking on the role of Virgin Singapore Marketing Executive, recommend a new consumer product that will be of value to consumers and launch this new product in Singapore using the Marketing Mix. This new consumer product should be a new product line or category that the Virgin Singapore does not currently have and it must not be a product line extension.

1. Analyse the Singapore market environment, identify and describe ONE (1) trend/market opportunity or gap that is relevant to help you develop a new product for Virgin in Singapore. 2. Recommend ONE (1) target segment, including the segmentation base(s) and variable(s), that Virgin Singapore can target for this new product. Provide ONE (1) justification why this new segment will be viable. 3. Identify and describe ONE (1) consumer pain point of your target segment, in relation to the new product that you are offering. Justify the consumer pain point with relevant research data. 4. Product You will then use this understanding of the market trend and consumer pain point to recommend a new product (a new product item, line or category) for Virgin Singapore that will be of value to local consumers. You are required to: Describe the new product and its core benefit Explain the unique selling proposition and why it would appeal to the target market Recommend and justify TWO (2) promotion mix tools to market your new product Describe how you can creatively use these tools to engage and reach your target audience to promote your new product Identify the pricing objective and strategy of your new product Recommend TWO (2) price adjustment tactics to increase the adoption rate of your new product Recommend and justify a channel strategy or level of distribution intensity that you will be adopting for your new product Recommend and describe TWO (2) channel intermediaries that you will work with to distribute your product