ASSESSMENT SHEET(to be completed by the examiner)|
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Principles used (for example, number and understanding of concepts referred to, their influence on the structure of this paper, number and correct citations of references, use of appropriate jargon) | | /4|
Application of those principles, that is, the analysis and evaluation of the example problem based on the principles, including the final recommendations and their justification| | | /8|
How well the example problem was described, including the extent and depth of information (including the data) about it that was accessed| | | /4|
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GRAND TOTAL| /20|
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I agree with the assessor’s assessment I disagree with the assessor’s assessment and the new mark is as follows for the following reasons: | /20| |
Title: Strategic Marketing- Developing a Marketing Plan
Develop a marketing plan for one or two new products in your own business and/or another business in your country or region with which you are familiar. If you choose to plan for just one product, develop a plan for two market segments. If you choose to plan for two products, develop a plan for one market segment for each product. In your plan, cover: _ current marketing situation with background data on the market, product, competition, and distribution (keep this discussion quite brief)
_ opportunity and threat analysis through a brief SWOT analysis _ objectives with goals for sales volume, market share and profit (these should be realistic but may have to be somewhat hypothetical because of lack of time and market research to provide better ones)
_ marketing strategy with details of the 4Ps, with justifications for them based on the above.
Because this is a short assignment, do not bother with details of action plans, projected profit and loss figures and controls, although they are important in the real world, of course.
Word Count: 1500 words.
Sniper energy drink is focused on targeting, Two Market Segments Sports people (bodybuilders, serious athletes) and “people on the go” (health conscious working class and young adults) Through market research, to shape a new marketing strategy for Sniper two key findings about the target market was discovered The first key finding addresses what factors are important when choosing between energy drinks. Due to its focus on Two Market segments, advertising and promotion of Sniper will not focus on ingredients as such but taste, so that it may gain the edge of competitor energy drinks such as Gatorade, Lucozade .The company’s research has indicated that the underlying factor in the buying decision is taste and as such will take predominance in the market from its promotions of Sniper energy. Secondly the company’s finding involves the energy drink market. Energy drink is a $15 billion dollar industry alone in the US, and expanding into this market could result in substantial financial benefits. In Trinidad and Tobago it accounts of over 100 million dollars in sales profit annually. Marketing Strategy
A pull marketing strategy will be adopted. Sniper will concentrate on penetrating its position in the current market and aggressively targeting the two market segments Sports segment and People on the go .Sniper will be generally marketed as fitness energy enriched flavoured drink to the health-conscious demographic.
Sniper being another energy drink will focus on enriched taste and flavor rather than ingredients. Clearly identifying the label of the bottle and when launching .Sniper energy drink decision was made...