What sort of pricing point will you use given your position in the marketplace?Discuss

Description

Task

You have been asked by your Managing Director to develop a new market offering for the organisation. Targeting the UK market, you need to design and deliver a new product* offering into an already cluttered marketplace.

This means that you need to create a specific market space for your new product with a clear target audience and strategy. Firstly, you need to research the macro-environment to determine current trends in the UK market.

Then you need to develop the company’s strategy and positioning. Finally, you must recommend what your company must do to attract customers and how the customer experience will be developed.

The report should include:

• A tailored macro-environmental (PESTEL) analysis showing sources of information from acceptable and reliable sources AND highlighting the key issues facing the company

• Identification and justification of new product/market offering (Ansoff)

• The development of your company’s marketing strategy (think about the segmentation, targeting and positioning and long-term strategic direction)

• Specific recommendations in relation to the market offering for the proposed target audience. (What will you be marketing? Think about how you communicate and distribute your offering. What sort of pricing point will you use given your position in the marketplace?

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