Question
Task 1: Find a real company of your choice. Select a well-known company which operates in competitive marketplace. Tip: If it has extensive global operations
Task 1: Find a real company of your choice. Select a well-known company which operates in competitive marketplace. Tip: If it has extensive global operations be specific about the strategic business unit (SBU)and country base you are focusing on and the market (s) it serves. Also be specific as whether it operates in a B2B or B2C market or both. If in any doubt discuss with the module leader. It is beneficial for you if the product or service that you select has a reasonable amount of information on the internet e.g. proposed price, product details etc. Be careful on your selection of industry as this module assessment covers 4.0 and disruptive competitors. You are advised to select a company which operates in a competitive market. Getting this right will help you with task 2 (as a guide 300 words). Task 2: Once you have decided on your product or service you should carry out an audit of the companys macro and micro-environment, evaluating any impact to markets faced by the company post-pandemic. The audit should also include current research of the product/service and industry/market sectors. Tip: You should use environmental analysis tools to evaluate the external environment i.e. PEEST and identify any current issues for the company. You should consider the opportunities and challenges your product or service may face i.e. SWOT. Your answer should include the current marketing mix and competitive forces i.e. Porters 5 forces. It may include supply chain, distribution, market demand for your companys product or service etc and may include other macro/micromodels as relevant (as a guide- 1200 words). Aspects to consider: External environment- what is the current situation of the company given that most countries/regions are still experiencing post-pandemic recovery effects? (use of analysis tools covered in the module and Mintel Oxygen Database) Analyze how your product or service captures and demonstrates customer value (using the marketing mix, the 4, 7 or 8Ps, CLV, relationship marketing, augmented products/services, brand value perception, etc). Is your product truly innovative or is it just a slight variation of an existing product? (incremental or radical innovation) and what type of customers does the company focus on, early adopters, etc.. How does it differentiate itself from competitors rival products and/or services? Evaluate the companys commitment (or not) to sustainable marketing. Task 3: Based on task 2- your analysis of the environment and product/service, make evidenced and theory-based recommendations and design an integrated marketing strategy, which includes future directions and decisions for the company. (as a guide-1500 words) Tip: This should include details of your proposed marketing strategy. It should include integration of sustainable (green) marketing approaches considering evidence in Task 2 particularly competitor actions and overcoming current threats and taking advantage of new opportunities (i.e. The 3 s digital and social media marketing). This section might include proposals for innovative new products and services, different target markets and different market segmentation-positioning of brands, pricing strategies, advertising. Supply decisions, etc). Remember to future proof for resilience.
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