MKT10007 FUNDAMENTALS OF MARKETING GUIDE: ASSIGNMENT 1 B Assignment objectives: · To develop higher order, critical thinking skills with regards to how key marketing concepts can be used in analysing a range of marketing problems.
Assignment Overview This assignment is an individual presentation that combines element from both your Assignment 1a and 2a. Your task here is to assume the role of a brand manager that is proposing a product extension to the Chief Marketing Officer (CMO) of your company. The brand you are extending is the brand you have analysed for your assignment 2a. The target market for the brand extension is one of the three personas you have created for assignment 1a. Your pitch to the CMO will argue which main segment should be targeted from among the 3. Then, justify what will be your brand's extension strategy and positioning to this segment, plus how will it be differentiated from competitors currently serving that segment. Last, you should explain how you plan to develop the marketing mix for this brand extension to attract the segment you've chosen. The pitch will be in these main parts: - A section that explains your how you have ranked the attractiveness of the three potential segments and justify why you have chosen one of them as the primary segment to target. - A section showcasing how your understanding of your chosen segment's characteristics becomes the foundation of your new product and brand extension strategy. - A competition analysis section that explains how the positioning strategy of your brand extension is differentiated and appealing to your target market - A section that details the rest of the marketing mix of your new extension, e.g its price, method of communication and delivery method (the 4Ps). Key facts Assignment format Submit a soft copy of your presentation sources, data, research, relevant appendices, and references on Canvas. Submit a link to the video presentation (max 10 minutes) of your pitch as a submission comment on Canvas. Grade Weight: 20% (individual)
This assignment is the culmination of your learning and your chance to showcase skills you've learned throughout the semester. You will utilize your Assignment la and 2a to create a presentation, but using an opposite philosophy to your Assignment 2b group presentation. In your previous group presentation, you started with creating an offering first, then trying to find who in the market would buy them. Here, you will start with customers first, and then designing an offering based on your understanding of that target consumers' behaviour. Part 1. Target Market Analysis In Assignment 1a, you have conducted a small market research that resulted in three simple 'personas': representations of consumers that share the same characteristics as them. Here, you must treat those personas as exemplars of a group of people (i.e 'a segment'). Your three la personas will most likely be under-developed, so you are encouraged to "flesh them out" and add more details of their characteristics and behaviour using your own research (e.g using ABS