WRIT 1 – New Market Offering Report (50%)
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?
* this could also be an extension of an existing product to a new consumer market
|1||A tailored macro-environmental (PESTEL) analysis showing sources of information from acceptable and reliable sources AND highlighting the key issues facing the company||20 marks|
|2||Identification and justification of new product/market offering (Ansoff)
|3||The development of your company’s marketing strategy (think about the segmentation, targeting and positioning and long-term strategic direction)
|4||Specific recommendations in relation to the market offering for the proposed target audience. (What will you are marketing? Think about how you communicate and distribute your offering. What sort of pricing point will you use given your position in the marketplace?)
|5||Correct use of the Harvard referencing system and at least 10 academic references Systematic, logical approach to writing
Submission Date: Your work must be submitted to Turn-it-in by 4pm 11th December 2020as required or your marks will be withheld. A link to Turn-it-in will be made available on the Module Moodle site.
Word Count: Your report must be 2,000 words in length (+/- 10%) and be well presented.
Referencing: Please ensure that you cite a minimum of TEN different credible academic and/or practitioner sources using the HARVARD referencing system (in text and as a bibliography).
Any Other Assessment Information:
- A more detailed indication of topics to be included in your assignment will be given within seminars and the assignment briefing.
- When choosing an organisation there are no restrictions as to which organisation you can choose.
- You should do this by clearly explaining the main theoretical concepts of marketing and the complexities of the international environment AND applying them specifically to this scenario.
- If you only research using just the recommended text from the reading list and/or base your essays on the lecture material alone you will not gain high marks.
- If you wish to gain higher marks you will need to engage in further reading using not just textbooks and but also articles, and you should read around the topics.
- If you wish to include any images discussing and/or relevant theoretical models to assist you in your explanation then do so. Please note that inclusion of any branded products or models will NOT be attributed any marks.
- You must acknowledge ALL your source(s) and all work should be correctly referenced using the Harvard system, with a complete reference list at the end of the paper. There is a guide on Moodle so there are no excuses.
- Tutors will NOT read or comment on any draft or finished assignments before the hand in date.
- Your assignment should be word-processed and clearly marked with the module name, module code and module lecturer.
- Your work should not contain your name only your student number.
Learning Outcomes Assessed:
- Demonstrate a critical understanding of the role and function of marketing in a variety or market and organisational contexts.
- Critically evaluate and utilise marketing research data and methods to a given marketing situation.
- Apply and evaluate the principles of organisational and environmental audits to inform marketing strategies, decisions and objectives.
- Develop and justify a marketing plan and mix for a given target market.
Unfair Academic Practise
Will be heavily penalised and may result in failure of the assessment and/or module and/or exclusion from the University.
The Module Leader reserves the right to interview any students regarding any aspect of their work submitted for assessment
Attention is drawn to the University’s Unfair Practice Regulations: