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My Unique Marketing Worksheet
Marketing is more than selling; it encompasses an understanding of the customer and the efforts to make sure that goods and services meet existing and potential needs; it is about formulating the correct strategies to win customers and maintain their satisfaction. This requires the use of various marketing tools in order to formulate a strategy that will ensure the success of the product.
You are a marketing assistant on a new career with the marketing consultancy My Unique Marketing (MUM). MUM has presented you with a high profile account and asked you to produce a detailed report on a marketing strategy. MUM has very high expectations of you but feels that you should be able to cope with the demands of the task.
Your brief is attached. You will be aware that MUM has high standards in terms of content and presentation. The following parameters have been set up by the organisation in order to create a certain look to all written communications:
- all work should be in a Report format
- a well-presented front cover is desirable and you are permitted to design a suitable logo
- graphs and tables should generally sit within the text rather than on separate pages
- a references page (including Web sites) should be included along with appendices if appropriate
- it is also desirable that you include a contents page and an executive summary
Task
The Cadbury company(http://www.cadbury.co.uk/) requires ideas on the development of a new chocolate bar. It must utilise the flavours and styles of existing Cadbury's chocolate bars but capture a currently untapped or unfulfilled market segment; the suggested price range is 10p to 90p.
You need to consider the current market, find a suitable segment and develop a marketing strategy for your idea; you do not need to do detailed notes on the production of the product.
Market research
- Identify the most appropriate sources of primary and secondary data and consider which will provide you with the most effective information.
- Collect secondary data on the market including demographics, trends, segments and competitors. Refer to the usefulness of marketing information databases for this process.
- Use primary sources of information (such as a survey using a questionnaire) to help you come to a decision about your product. Explain why you chose to use a particular method.
- Consider the validity of the information you have gathered.
- Summarise your findings clearly.
Marketing models
- Product Life Cycle
- Boston Matrix
- Ansoff Matrix
- Using these models, assess Cadbury's current portfolio and consider a range of alternatives for the development of product lines and markets.
SWOT and PEST
- Assess Cadbury through the use of a SWOT analysis and comment on the results of your findings.
- Undertake a PEST analysis in order to gain an understanding of the external environment in which Cadbury's is operating.
- Explain how these relate to the development of your strategy.
Marketing Mix
- Your findings should now enable you to develop a detailed marketing mix for your chosen product.
- What is the product (including packaging)?
- What is the pricing strategy and are there alternatives?
- Where is the place it will be sold (including distribution)?
- What promotional mix will you use?
Other considerations
- Explain the importance and effects of good customer service from the point of view of Cadbury and its retailers.
- Explain the potential for the use of technology and e-commerce in the sale of your product.
Evaluation
- Briefly summarise your strategy and identify some of the potential problems that may occur if your idea was put into action.
Presentation
- Present one aspect of your marketing plan to an informed audience.
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