Discuss the different techniques and why some are better than others for different business scenarios that may arise with your product.

UNIT TITLE: Principles of Marketing
ASSIGNMENT No/TITLE: Report (Assessment 1 of 1)

ASSIGNMENT TASK:

Write a Business Report to a Marketing Manager not exceeding 2000 words on the following:

Scenario

After undertaking a range of market research you are planning to launch a new product of your choice, this could be for example, loom bands, a new cupcake, a Lego Red Arrow plane. Explain what market research techniques you would apply and why?

Discuss the different techniques and why some are better than others for different business scenarios that may arise with your product. [2.1]

Explain why and how you have undertaken this research and what has supported your decision to launch this product. In this section you should explain the importance of marketing to an organization. [1.1]

Identify your target market and explain how this impacts on your pricing strategy. This should include application of marketing segmentation, targeting and positioning [4.1 & 5.1]

Analyse the elements of the promotional ‘marketing’ mix, especially the place that will be considered when launching the product. [3.1].

Describe the product life-cycle; explain how different aspects of the marketing mix relate to the stages of this and how this can vary in different markets for your product. [7.1]

Overall you should finish your report by explaining and evaluating the effectiveness of different methods of promotion for your product. [6.1]

Instructions

1.Refer at all times to the Learning Outcomes and the assessment criteria, and ensure that all of the requirements are satisfied within your work

2. Use at least 4 different sources and add a bibliography and reference your work where appropriate

3. State the word count at the end of your assignment Deadlines: Your tutor has given you a date by which this Time Constrained Assignment must be completed.

The deadline is set to ensure equality and fairness amongst students and is evidence of time management and self-discipline. If you do not hand the work in on time you will be penalised.

Similar criteria operate at University. There will be no extensions to the deadline date, unless an extension has been requested and granted by your tutor prior to the deadline date. (This will require you to submit a request for an extension on the appropriate form and it will only be granted in exceptional circumstances.)

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