MG626: Produce a report on a company’s behalf advising them on how they can gain successful entry with the new product/service you suggested in your initial report. Strategic Marketing assignment
Module / Subject / School:
MG626 Strategic Marketing
Buckinghamshire New University
After submitting your initial marketing report, the company is now convinced that the suggested country’s market is the best market to do business and has commissioned you again to produce a report on their behalf advising them on how they can gain successful entry with the new product/service you suggested in your initial report. Your task now is to write a report by answering the following questions:
- To what extent should the different elements of the marketing mix be standardised or adapted for your chosen country. Give a full justification for your ideas
- Applying the Customer Based Brand Equity model, critically analyse how your client could build and manage a strong brand in this new market
- Applying the concept of integrated marketing communications (IMC) critically evaluate three effective marketing communication methods your client could incorporate within this market.
- Critically assess how your client could measure its marketing success in this market and how it could improve in the future
Recommended structure of report
General summary of nature of report, Key findings and recommendations and should NOT be more than a page.
Main aim(s) and objectives of the report. Also introduce and orientate the reader as to the content and what the report will cover.
Adaptation and standardisation of marketing mix
Explain the general terms of adaptation and standardisation of the marketing mix with examples. Then demonstrate by way of critical analysis whether there is a need for your client to adapt its marketing mix according to customer specifications within different segments of the market or there is a need to offer standardised marketing mix across the different segments within the same market
Explain how your client could build a strong brand by focussing on all the different components of the CBBE Model covering all of the following:
- Who are you? Brand Salience (Identity)
- What are you? Brand Performance and Brand Imagery (Meaning)
- What about you? Consumer reactions (Responses)
- What about you and me? Consumer Brand Resonance (Relationships)
Integrated communication mix and methods
Explain the meaning of IMC and its importance in the launch of the new product. Choose any three marketing communication methods that could be construed as most effective in reaching its target customers
Measurement of success
Explain some of the ways of measuring success e.g. Sales targets, Market share, profitability, Returns on Investment etc. as well as ways it could improve in the future
Summarise the key points you have covered. You do not need to introduce anything new
Appendices (if any)
You are required to produce a 2500 word REPORT
You are allowed a 10% plus or Minus dispensation of the word limit
The word count excludes the Executive Summary, References and Appendices
Students are to use wider range of resources from peer reviewed academic journals as well as books and other academic databases such as Mintel, EBSCOhost, ABI/Inform (ProQuest), Passport etc.
What we score:
Our Writer’s Comment
This assignment tests students on their understanding of marketing reports.
Based on the assignment requirements provided, here are some comments to help students score well on this assignment:
To excel in this assignment, it is essential to follow the recommended structure and address each question thoroughly with critical analysis and relevant examples. Here are some comments to guide you:
- Executive Summary: Keep the executive summary concise while summarizing the key findings and recommendations from your report. Make sure it provides a clear overview of the report’s nature and content.
- Introduction: Clearly state the main aim and objectives of the report. Provide an introduction to the chosen country’s market and the new product/service you suggested in your initial report. Set the context and outline what the report will cover.
- Adaptation and Standardisation of Marketing Mix: Explain the concepts of adaptation and standardization of the marketing mix. Provide relevant examples to illustrate both approaches. Then critically analyze the need for your client to adapt or standardize the marketing mix based on customer specifications within different market segments. Support your analysis with market research and consumer insights.
- CBBE Model: Clearly explain the Customer-Based Brand Equity (CBBE) Model and its components (Salience, Performance, Imagery, Resonance). Apply each component to your client’s brand and analyze how they can build and manage a strong brand in the chosen market. Use relevant examples and case studies to support your analysis.
- Integrated Communication Mix and Methods: Define Integrated Marketing Communications (IMC) and emphasize its importance in the new product launch. Select three effective marketing communication methods and discuss how your client can incorporate them to reach their target customers. Provide evidence and examples of successful implementation of these methods in similar markets.
- Measurement of Success: Discuss various ways to measure marketing success, such as sales targets, market share, profitability, and ROI. Provide recommendations on which metrics are most relevant for your client’s business in the chosen market. Also, suggest how they can improve their marketing strategies based on performance metrics.
- Conclusion/Recommendations: Summarize the key points covered in the report without introducing any new information. Provide clear and actionable recommendations based on your analysis and findings.
- References: Ensure you use a wide range of resources from peer-reviewed academic journals, books, and academic databases. Use APA referencing style consistently throughout the report.
- Language and Analysis: Use clear and concise language throughout the report. Ensure your critical analysis is thorough and supported by evidence. Avoid making broad statements without substantiating them with relevant data.
- Word Count: Pay close attention to the word count and stay within the 10% plus or minus dispensation. Concise writing is crucial, so use words wisely to cover all aspects of the report effectively.
By following these guidelines and providing a well-structured, evidence-based report, you can demonstrate your understanding of marketing concepts and strategies and achieve a successful outcome for the assignment.
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