Section 1

Target market, Positioning   

(diagrams, visuals, and tables plus ~ about 400 words) 1.1 Target market (consumer persona) (visual – no word count) 

Consider the market segment you developed in Part A of the assignment. To create a consumer persona, choose one segment of consumers from the segmentation table you want to target. This should be different from your other group members. Then, use the information from the segmentation table to create a fictional representation of a typical consumer from that segment.

This representation will include details about the consumer’s behaviour and interactions with the product category.

Consider questions such as:

how the product solves a problem for the consumer
what frustrates them when using the product, and
how they use the product in their daily life.

You should also include information about:

their purchase behaviour, what other similar or complementary products they use, and
where they get information about products and brands.

The persona should closely align with the chosen consumer segment from the segmentation table, without including any new information.

1.2 Positioning (~ 20 words)

1.3.1 Positioning map (diagram – no word count)

A positioning map and positioning statement are essential tools for marketers because they help communicate a brand’s unique value proposition clearly and concisely to its target audience.

A positioning map allows marketers to visually represent how their brand compares to competitors in the market based on specific attributes or factors that are important to their target audience. By plotting their brand against competitors on a map, marketers can identify gaps or areas where their brand can differentiate and better appeal to their target audience.

The positioning map is essential because it allows you to visualise the competitive landscape of your product category and how your brand compares to competitors in terms of key factors influencing consumers. It can also help you identify potential gaps in the market and opportunities for differentiation.

To create a positioning map, you must identify key factors influencing consumers’ purchasing decisions for your product category. Start by reviewing your segmentation table and consumer persona. Once you have identified these factors, you can plot your brand and at least three competitors on a graph based on their performance in these factors.

Because the positioning map must connect with your segmentation table and your consumer persona it does not need an explanation.

IMPORTANT: When constructing a positioning map, it’s important to note that you need to go beyond price and quality as the factors to plot your brand and competitors. This is to encourage you to think beyond these traditional factors and consider other aspects of your product or brand that could be important to consumers.

1.3.2 Positioning statement (~ 30 words) 

A positioning statement explains how your brand satisfies a particular consumer need in a unique way compared to competitors.

Use this structure:

For [target customer segment] who [statement of need or opportunity], [brand name] is a [product category] that [key benefit or compelling reason to buy].

Example:

For health-conscious individuals who prioritise convenience and value, Kellogg’s Cornflakes is a breakfast cereal that offers a satisfying and nutritious start to the day.

Section 2

2. Marketing strategy and tactical plan (~ 2,500 words) 

This section will outline how you intend to achieve your marketing objectives.

To do this, you will use the marketing mix (4Ps) to create effective marketing strategies to help you capitalise on opportunities, overcome potential threats identified in your SWOT analysis, and attract your target market to purchase your product.

Your decisions and strategies should be authentic and supported by visuals such as photos or screenshots.

You can follow a structured approach to ensure you provide sufficient detail, such as :

identifying a strategy based on the product life cycle
explaining how you plan to execute it
discussing what is and isn’t working currently and suggesting any changes that may be needed, and
connecting the strategies to your target market.

You should also use evidence to support your ideas, and ensure you apply the Harvard Referencing style throughout your work.

2.1     Product (~ 800 words) 

In this section, you will examine the brand’s product strategies.

Specifically, you will apply the product life cycle (PLC) of the current offering, identifying gaps in the product mix, and using the line extension strategy to suggest new product launches.

Additionally, you will apply the total product concept to your new product.

Through the analysis, you aim to create a more comprehensive and effective product strategy that aligns with your marketing objectives and target market needs.

Address the following:

2.1.1 Product life cycle (PLC)

Illustrate the position of your brand and the competitors on the PLC
Explain the overall product strategy based on your brand’s position

2.1.2 Product mix 

Show what your product offers by illustrating the product mix for your brand.
Identify a gap in your product offerings.
Using the line extension strategy, suggest launching at least onenew product during the planning period.
Update your product mix to include your new product(s).

2.1.3 Total product concept

Construct a total product concept diagrams for the new line extension:
To justify the new product, do the following:

− Explain how and why the new product will be attractive to your target market.

− Describe what value the product will offer to your target market – refer to your segmentation table, consumer persona, and brand positioning.

− Identify what opportunity in the category or broader industry the new product addresses. This may involve discussing trends and opportunities that the product takes advantage of.

− Explain how the product contributes to your marketing objectives.

2.2   Price (~ 350 words) 

In this section of the marketing report, you will focus on pricing strategy, particularly the current strategy and potential line extension tactics.

For example, the report will examine the current pricing strategy and its suitability for the product’s position on the product life cycle. The updated product mix is also considered when discussing necessary price adjustments to meet the target market’s needs. The section then explores how the pricing strategy will help achieve the marketing objectives.

You will then discuss line extension tactics, illustrating in a table competitor prices, determining the price of the new product(s), deciding whether it will be priced higher or lower than the competition, and any promotional pricing activities planned.

Throughout, you will explain how the pricing strategy aligns with the target market and helps achieve marketing objectives.

Address the following: 

2.2.1 Current strategy

Explain the overall price strategy based on its position on the PLC. For example:

− Explain the broad approach to pricing currently being applied (value-based, cost-based, or competitor-based pricing)

− Discuss whether this approach is suitable. If it is not suitable, recommend a new approach and explain why.

− Show how the updated product mix affects the pricing of your product.

For example, discuss if the current pricing meets the needs of your target market and recommend any necessary price adjustments.

Explain how your pricing strategy helps achieve your marketing objectives.

2.2.2 Line extension tactics

Create a table that shows the prices of similar products from your competitors.
Determine the price of your line extension product(s), including introductory prices, and decide whether it will be higher or lower than the competition.
Discuss any promotional pricing activities you plan to use, including why, when and how much discount you will offer.
Explain how the pricing strategy you choose fits with your target market. Remember to refer to your segmentation table, consumer persona, and brand positioning.
Explain how your suggested pricing strategy helps achieve your marketing objectives.

2.3     Distribution (Place) (~ 350 words)

The marketing channel and distribution strategies are critical in getting your products to the target audience. In this section, we will examine the levels of the marketing channel your brand currently utilises and discuss whether any adjustments are required to improve your brand’s reach.

You will need to incorporate a diagram to illustrate the marketing channel levels and link this to your segmentation table, consumer persona and brand positioning to ensure consistency in your marketing approach.

In addition, you will evaluate the current distribution strategy and identify any gaps that need to be addressed. You will make recommendations for improvement and discuss how obtaining the distribution of the line extension can appeal to your target market and contribute to your marketing objectives.

You must ensure that the distribution strategy aligns with the pricing and product sections.

Address the following: 

2.3.1 Marketing channel analysis

Consider the market structure and how your brand and products will reach the target audience.

Detail the distribution strategy based on the PLC
Illustrate the marketing channel levels currently used and list example distribution points in the diagram.
Discuss why the levels of the marketing channel make sense
Link the discussion to your segmentation table, consumer persona and brand positioning.

2.3.2 Intermediaries / Distribution

Consider the levels of marketing channels and intermediaries discussed in 2.3.1. Identify a gap in the distribution and recommend any adjustments required – for example, how you intend to increase the distribution of your brand and line extension(s) to reach the target audience.

Remember to

return to your pricing and product sections to ensure this discussion aligns.
Link the discussion to your segmentation table, consumer persona and brand positioning.
Discuss how this will contribute to the marketing objectives.

2.4     Promotion (~ 1,000 words plus visuals) 

This section of the report is the bulk of the work where you will bring to life the product, pricing and distribution strategies you have stated earlier in the report through a well-crafted promotional strategy.

This section focuses on the steps to develop and illustrate your promotional campaign using the promotional mix tools identified in 2.4.2 below.

The details to be covered in this section are listed below.

2.4.1 Communication strategy

  In this section, you will address four key areas:

Advertising and promotional strategy
Advertising objectives
Message strategy
Creative concept and message execution theme

2.4     Promotion (~ 1,000 words plus visuals) 

This section of the report is the bulk of the work where you will bring to life the product, pricing and distribution strategies you have stated earlier in the report through a well-crafted promotional strategy.

This section focuses on the steps to develop and illustrate your promotional campaign using the promotional mix tools identified in 2.4.2 below.

The details to be covered in this section are listed below.

2.4.1 Communication strategy

  In this section, you will address four key areas:

Advertising and promotional strategy
Advertising objectives
Message strategy
Creative concept and message execution theme

Advertising objectives

Based on the type of advertising, construct your advertising objective. Types of advertising include:

2.4.2 Promotional mix

Now that you have determined your strategy, advertising objectives, message strategy and execution, you can progress to the development of your advertising campaign – selection of promotional tools and supporting media. The promotional plan must include magazine ad (traditional medium) and a Video ad (for new/digital media or TV), with the following creatives to illustrate.

Magazine  – visual applicable to magazine advertising. Create one magazine ad promoting your new product.
Video ad — storyboard applicable to a Video ad for any online ad medium. Create a storyboard for an ad promoting your new product.

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