In your role as Junior Marketing Analyst one of your key roles is to gather information on competitors in order to conduct analysis on their sales, prices and methods of distribution and marketing to thoroughly learn about the competition. In conducting benchmarking analysis, the organisation can identify where changes are to be made to improve performance.

EthicaInvest $($Pty$)$ Ltd is keen to explore new and distinctive market segments, where there is potential for rapid growth, and support entrepreneurs focused on this segment. The marketing challenge is to find opportunities that also adhere to the strict CSR guidelines required by EthicaInvest $($Pty$)$Ltd$.$You have been asked to carry out a benchmarking analysis that will help inform and create a compelling proposition for a new product line in the minds of customers. You and your manager have been discussing this and have decided that there would be value gained by critically evaluating marketing mix strategies across potential competing products in related markets. This will provide creative insight into how you develop and launch your product. Your manager has referred to this as $$process benchmarking$.$

On completion of the benchmarking analysis, you are required to prepare your findings as a briefing paper for the senior management team.

The briefing paper:

$$ Identifies and compares the extended marketing mix for two competing product lines

$$ Evaluate the marketing strategies and tactical approaches adopted by each business $($or business unit$)$

and how they contribute to the success of the organisations in meeting their overall business

objectives.

$$ Provides conclusions and a set of justified recommendations on what the company can learn and

deploy as it plans its marketing strategy for the new product.