Principles of Marketing: You will develop an innovative product/service for a company of your choice which operates within the global tourism industry.

Principles of Marketing: You will develop an innovative product/service for a company of your choice which operates within the global tourism industry.

Module / Subject / School:

Principles of Marketing

Requirements:

You will develop an innovative product/service for a company of your choice which operates within the global tourism industry. Your forward-looking written report must be based on credible research describing the recommended marketing activities for the chosen company in relation to the innovative product/service. Your report will include a detailed explanation of the following sections:

1. Introduction: Company, Brand and Product (5 marks)

The introduction should describe the chosen company very clearly, summarising or paraphrasing to show understanding. This section should be accurate and up to date as of 2022. The key attributes of the innovative product/service must be introduced here.

2. Internal (Micro) Analysis: Customer, Competitor and Company (15 marks)

This section is all about the marketing elements related to the current situation internally and with direct competitors as well as existing customers over which the company exerts some control or influence. It presents and describes research from relevant, up-to-date, and credible sources on customers and competitors and builds on research on the chosen company. Competitors’ Strengths and Weaknesses are to be presented. Customers’ Social and other media feedback on the company is described and analysed.

What we score:

78%

Our Writer’s Comment

This assignment is designed to assess students’ understanding of business practices.

To secure an A+ grade, adhere to these guidelines and make sure your work aligns with the grading criteria:

1. Introduction: Company, Brand, and Product (5 marks)

This section is straightforward but important. Start by giving a clear, concise overview of the company you’ve chosen. Highlight key information such as their size, market presence, and reputation in the tourism industry. Your goal here is to show that you understand the company’s identity. Then, introduce the innovative product or service you’re developing for them. Make sure the innovation ties directly into the company’s existing brand values, target market, and overall business strategy. Don’t just state the product/service—explain why it fits with the company’s mission and appeals to their audience.

2. Internal (Micro) Analysis: Customer, Competitor, and Company (15 marks)

This section is more detailed and carries more weight, so focus on accuracy and depth. You’ll want to conduct solid research on three key areas:

Customer: Who is the company’s target audience? Use data, social media feedback, and customer reviews to build a profile of your typical customer. You’ll want to show that you understand their needs, preferences, and behaviors.
Competitor: Identify key competitors in the tourism industry. What are their strengths and weaknesses compared to your chosen company? This is where competitor analysis comes in—examine pricing, customer feedback, market share, and innovation. Show how your company’s innovative product/service stands out from the competition.
Company: Discuss the internal factors that influence the company’s marketing strategy, such as their resources, brand strength, and market positioning. Consider how these factors will support the launch of the new product/service.

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