Mkt 306 - Marketing Strategy Assessment Answer

Assignment Task :

Knowledge and Understanding (MKT 306)

• Explain the nature of marketing strategy and its significance for the organisation. 

• Assess the drivers and factors affecting the choice of marketing strategies. 

• Evaluate appropriate models and techniques that aid the strategic marketing process. 

• Analyse contemporary marketing issues and problems in a strategic context. 

Assignment Brief: 

The task is divided into two parts (Part 1 & Part 2) and candidates are expected to address both. 

Your task is to identify an organisation (producer and/or brand owner), that is involved in the marketing of electronic goods and prepare an individual report of 3,500 words  addressing the following

Part 1: 

• Using appropriate sources undertake a full marketing audit of your chosen category and brand. Include an evaluation of the current marketing strategy and position in the market. 
• Demonstrate the brands effectiveness by providing an evaluation of their current market performance. This should include relevant market performance data to underpin your evaluation, for example market growth, sales trends, profitability etc. 
• Provide a critical evaluation of the brand’s competitive edge (USP) with comparison to the main competitor brands in the marketplace. 

Part 2: 

• Based on your Part 1 analysis provide the rationale for the introduction of a new product to the range. 
• Outline the features / benefits of the new product. 
• Identify target segment/s. 
• Set clear marketing objectives to launch a new product with the aim of increasing brand awareness, market share, sales and/or profitability. 
• Recommendations - with application to the marketing mix, recommend a relevant marketing strategy to addressing the marketing objectives. 

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