MKT82210 Marketing Strategy and Plan: Communication And Promotion

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MKT82210 Marketing Strategy and Plan

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Imagine a company is planning to introduce a new product in a new market. Describe the product and how its features and specifications could satisfy customer needs.

1. Analyse the market and the various segments that the new product can possibly serve. Define the criteria for segmentation, select one particular target segment and describe it.

2. Explain the market strategy that the company would follow for positioning in the target segment.

3. Illustrate the product life cyle that is planned and its various stages. How would customer satisfaction, sales volumes and profitability vary in each stage?

4. Considering the communication and promotion requirements in each stage of the PLC, what promotion mix should the company adopt in each stage?

This is individual assignment and has to be done and submitted individually by each student on Moodle by 2000 hrs on November Write at least 8 pages. Your answers should be specific to the product, the target segment and the customers. APPLY the concepts studied in the course. Do not write general answers. Apply knowledge of segmentation to explain strategies for targeting customers Describe the purpose and benefit of product positioning Identify how the nature of a product or service affects its lifecycle Develop a promotion mix for marketing a product or service based on an identified target market.

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