Investigate and analyze topics appropriate to the marketing of a product or service of your choice
Develop a marketing plan for your chosen product (5marks)
• Overall layout
• Using the correct headings
• Differentiating between topics under the marketing mix and in the overall marketing plan
• Breaking down each heading into sub headings i.e Product – branding/packaging/design/USP/product features etc.
• Incorporating other key features such as the Target Market & a SWOT analysis
• Giving an appropriate introduction to the marketing plan, include the history of the company or the product , you may also include the mission statement of the company or the overall company objectives
• Ensuring the marketing plan is easy to read, follow & understand – it flows well
• You may include any other relevant information that you feel will stand to your marketing assignment
• Your marketing plan should look professional with thought applied to layout, font, tables etc.
Carry out a comprehensive analysis of the Marketing Mix (10 marks)
Product, may include the following :
Features of the product
Product Life Cycle of main product and a second product life cycle to be done on either a competing product or a different product under the same brand name. Both life cycles should be accompanied with a theory section explaining each of the stages under the product life cycle
Price, may include:
Pricing strategies e.g cost plus, penetration, price skimming, competitive pricing
Importance of setting the correct price for your product
Place, may include:
Where the product or service is sold
Channels of distribution
How it gets from manufacturer to consumer
How many intermediaries are used before it reaches the final consumer
How easy it is for consumer to access your service or purchase your product
Comprehensive Analysis of the promotional mix (10 marks)
How does your company/product engage in the above, write under each of the above headings explaining what advertising they use, sales promotions, direct marketing etc.
Appropriately Structured Plan and information applied accurately (5 marks) For more information on Marketing a Product or Service checkout this: https://www.encyclopedia.com/social-sciences-and-law/economics-business-and-labor/economics-terms-and-concepts/marketing
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