Question
You have recently opened your own Marketing Consulting Practice. Your first (and only) client has asked you to lunch and presented you with the following
You have recently opened your own Marketing Consulting Practice. Your first (and only) client has asked you to lunch and presented you with the following conversation: "I know you are new to the consulting industry, yet I believe in you. I want to hire you to help me gather information so that I may make a presentation to my company board. I have recently purchased a factory in Malaysia that could create almost anything ( X - product- You decide) and I am interested in marketing a product only in Canada." Since this product will be a new area for my company and new to Canada, I'm looking at this being a newly Branded Item for the company, using the new brand name for marketing. The (Y - new brand name- You create)may have been sold under different names in other countries through retailers targeting ( Z- Target market- You analyze the target market based on the product you selected). Since there are alternative products here in Canada, I need to have branding, positioning, and a strategic Marketing Mix Analysis to provide information for my Board to approve funding and for my Department Managers to follow so they may create a full plan of operations. The information you develop will be my selling tool and I will present it to the board; asking them to approve the investment in marketing the (New Brand and Product)in Canada to (The Target Market you determine best for the product)" The Client has offered you a contract for $15,000.00 to complete this Marketing Mix Analysis for the new Branded Product! The Catch? - He needs the analysis in 10 days so he may present a proposal at his next Board meeting. To help you get this project started you should provide information on the following areas: (remember you are providing information so that an Owner may give a presentation to a board)These headings are suggestions - you may use your own - yet information for each of these sections must be presented - DO NOT include these as question format - this is not a Q&A but a strategic proposal for the client.
Marketing Mix Analysis for the (Y/X) 1. Provide a brief description of (X) product and describe the consumer benefits 2. Suggest a(Y) Brand Name for (X) Product. a. What Value is there in this brand name for Company& Product? 3. Who is the main (Z)target market? Why? What, Demographics, size, usage rate - is the target? 4. What are alternative purchase options for consumers and who is the main competition? 5. Suggest a Positioning Strategy a. How does the product meet the needs of the target market? b. Describe points of parity and points of difference c. What is the product's most distinguishing feature? 6. Provide main strategy points for each of the Marketing Mix Elements - including the information requested below. (Not all inclusive) a. Product What is the product What makes the product different (as above) What gives the product more value than alternatives? What is the main value/benefit for the target market? b. Price Considering the target market - what is the value to price proposition? How should the price be set? Any specific pricing method? c. Distribution (Place) What should be the "full" distribution channel? Can the distribution channel add value to the target market? Should it have a Push or Pull Strategy - Why? Are there any special channel considerations d. Promotion What should be the message communicated? Why? Are there any specific communication mediums or channels to be used? Why?
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