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Marketing Strategy

Type: Marketing Pages: 1
  • Course Code: MKT306
  • Course Title: Marketing Strategy
  • University: Northumbria University
  • Country: UK

Brief:

The task is divided into two parts (Part 1 & Part 2) and candidates are expected to address both. Your task is to identify an organisation (producer and/or brand owner), that is involved in the marketing of sporting footwear e.g. Reebok, Nike etc and prepare an individual report of 3,500 words
(please see appendix 1 for further details) addressing the following issues.

Part 1:

  • Using appropriate sources undertake a full marketing audit of your chosen category and brand. Include an evaluation of the current marketing strategy and position in the market.
  • Demonstrate the brands effectiveness by providing an evaluation of their current market performance. This should include relevant market performance data to underpin your evaluation, for example market growth, sales trends, profitability etc.
  • Provide a critical evaluation of the brand’s competitive edge (USP) with comparison to the main competitor brands in the marketplace.

Part 2:

  • Based on your Part 1 analysis provide the rationale for the introduction of a new product to the range.
  • Outline the features / benefits of the new product.
  • Identify target segment/s.
  • Set clear marketing objectives to launch a new product with the aim of increasing brand awareness, market share, sales and/or profitability.

Recommendations: with application to the marketing mix, recommend a relevant marketing strategy to addressing the marketing objectives.

Your arguments, findings and recommendations should be supported by theories, facts and figures published within academic books, journal articles, recognised business magazines and market intelligence reports.

N.B. Please note the maximum word count includes the executive summary but excludes appendix and references.

Structure:

This is an individual as a single report in two parts. Candidates are encouraged to be creative with their analysis and recommendations by using theories covered in the lectures and workshops.

The below is the structure that candidates must follow for this report:

Part 1

  • Title page
  • Executive Summary
  • Table of contents
  • Introduction
  • Environment analysis
  • Evaluation of current marketing strategy/performance
  • Analysis of the organisations competitive advantage and USP

Part 2

  • Product rationale and specification
  • Segmentation Targeting & Positioning (STP)
  • Recommend marketing objectives and goals
  • Identify appropriate marketing strategies, based on the application of the marketing mix to your chosen product / brand.
  • Conclusion
  • Bibliography (with references)

Learning outcomes

Upon successful completion of this module, students will have demonstrated:

Knowledge

  • Explain the nature of marketing strategy and its significance for the organisation.
  • Assess the drivers and factors affecting the choice of marketing strategies.
  • Evaluate appropriate models and techniques that aid the strategic marketing process.
  • Analyse contemporary marketing issues and problems in a strategic context.

Skills

  • Research skills.
  • Interpretation of advanced information and marketing data handling skills.
  • Assessing communications skills to develop effective relationship marketing.

Introduction

Marketing strategy is a inclusive plan which is formulated by an organisation to achieve its marketing objectives. All the strategies related to marketing are formulating........

Main Body

Environment analysis

In order to operate all the organisational activities in a most effective manner it is essential for an organisation to evaluate the environment of business.......

Evaluation of current marketing strategy/performance

In order to maintain sustainable growth of the business organisation then it is essential for the manager of the firm to continuously evaluate the effectiveness of their strategies......

Marketing-mix:

Marketing mix depicts to the set of tactics or action which are helpful for the company to promote its products and services in marketplace.......

Analysis of the organisations competitive advantage and USP:

The management of Nike can use VRIO model in terms to assess their resources and their competitive advantage........

Product rationale and specification

In terms to get higher recognition in the marketplace Nike is giving their focus on introducing a new product in the marketplace i.e. Gel Based Shoes......

Segmentation Targeting & Positioning (STP):

For successfully launching their new product in the marketplace manager of Nike has considered STP strategies in their business which is explain......

Marketing objectives:

In order to come up with their new product in the most significant manner Nike determine SMART objectives.....

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