MARK1012 Marketing Fundamentals and Behavioral Elements

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MARK1012 Marketing Fundamentals

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This includes identifying a target market, creating a positioning statement as well as a marketing mix analysis. Then utilising the information gained from the Assessment 1 situational analysis, combined with applying the marketing principles you have learned in the subject, develop a concise outline of marketing strategy recommendations to assist your client in growing the business. Assessment 1 with tutors feedback is attached below for reference. Assessment Instructions: Develop a marketing report based on the following sections: a. Cover Page including: ? Businessname ? StudentIdentifier(nameandnumber) ? Subjectcodeandname ? Dateofsubmission ? Facilitatorname b. Table of contents c. Brief introduction d. Target Market Profile. Develop a target market profile applying two (2) variables for each of the following segmentation elements: demographic, geographic, psychographic and behavioural elements. Note: Your business may target more than one market and if so, focus on what you think is the largest target market. e. Positioning Statement. Develop a positioning statement for the client highlighting the values and benefits offered by the brand to consumers. This may be derived from evaluating the client’s website and marketing communications in order to complete the “Moore positioning statement” (template below): For: (target customers) Who must: (solve a specific problem or fulfil a need) Our product is a: (describe product or solution) That provides: (key breakthrough benefit which solves the problem and/or a reason to believe) Unlike: (reference direct competitors) Our product /solution offers: (describe the key point of competitive differentiation) f. Analysis of the Current Marketing Mix. Analyse the variables that include applications of: i. Product strategy: ? Identification/suggestion of the three levels of product ? Product classification ? Identification/suggestion of the product portfolio (width, depth and lines) ii. Pricing strategies ? Application/suggestion of at least 2 (two) relevant pricing strategies that may be used by the business and associated terminologies/concepts. iii. Placement ? Identification/suggestion of at least 1 (one) marketing/distribution channel strategy used and apply associated terminologies/concepts. iv. Promotions ? Identification and description of at least 3 (Three) promotional tools used by the business including relevant application of associated terminologies /concepts. g. Recommendations. Identify at least 4 (four) marketing recommendations based on the situational analysis and applying key concepts and marketing principles covered in the modules. These recommendations should relate to any/or all of the elements of the marketing mix (Product, Price, Place, Promotion). You may also include discussion of the targeting, positioning and branding if changes are recommended. h. References ?A minimum of 4 credible and reliable sources should be used in your research ? As this is a report, appropriate headings and sub-headings should be used in your writing ? The reference list must be compiled using APA6th ed. ?

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