ritically analyse (come up) new or improved product or service that is the focus of your report ( based on 5 requirements mentioned in the paper details that should be fully analysed in the report .
Part 1: Introduction and Product/Service Description (10%) A brief description of the new or improved product or service that is the focus of your report. Agree your choice with your tutor by week 2. Part 2: A Critical Analysis of the Market Context (20%) Include a brief analysis of the market: Key market trends (e.g. growth trends) Who are the key competitors and how are they positioned? Summarise the current customer attitudes/behaviours in this market Identify the main issues / opportunities you think are relevant including social and/or ethical issues (if relevant) Part 3: Segmentation, Targeting and Positioning (STP) (20%) What base(s) of segmentation you have used and why? Include size, geo-demographic, psychographic etc. Summarise the profile and persona of your target market and, if not a completely new product, how is the target market different from the segment(s) targeted in the past? Include a statement that identifies why your target market should buy your improved product or service– i.e. what benefits it now offers and what problems it solves? Part 4: Your Recommended Extended Marketing Mix (given your analysis above) (30%) Traditional marketing mix elements: Product (include, for example branding and packaging and service quality) Pricing Strategy Promotional Strategy including Digital Media Channel or Distribution Strategy Services marketing mix elements (where appropriate): Process Physical evidence (e.g. including essential and peripheral evidence, servicescape etc.) People (including role of customer in the value creation process as well as employees and/or relationship marketing challenges) Part 5 A discussion of Implementation Issues (10%) This section should discuss issues related to implementation such as co-ordination between different departments and the role of internal marketing, as well resources and capabilities required to implement your chosen marketing strategy.
