1. Select a new offering – a product or a service – that has been internally developed by an organisation and where it has been introduced into a market in the U.K., E.U., U.S. or any other country market at any point from October 2021 onwards. Make your selection of product/service, brand, and market to enable you to best demonstrate your knowledge. After stating your choices, define and describe the overall market for the offering, including the most appropriate bases for segmentation of the market and some likely key success factors for organisations competing in the market. (15%)
Identify and describe the organisation’s strategic marketing objectives for the offering and the apparent criteria that would be used in judging whether or not it is or isn’t successful. (5%)
Fully describe the organisation’s marketing strategy for the offering, including how the product/service and associated brand are positioned in the overall market. (30%)
Carefully analyse and critique your organisation’s offering marketing strategy. a) Comment on the product’s apparent success relative to the organisation’s strategic marketing objectives, strengths, and weaknesses. b) Emphasising the most important aspects facing the organisation now and in the future given the organisation’s performance and market competition, analyse what important changes in the organisation’s environment might occur in the future and the implications for the offering’s marketing strategy. c) Comment on the likelihood of the offering’s future success (i.e., success over the next three-to-five years) and provide recommendations for feasible new marketing strategy initiative(s) to support the offering’s future success. (50%)