Situation You are a marketing executive for a company in an industry sector of your choice. You have been asked to review the marketing activities employed by brands within that sector ahead of the launch of a new brand in that industry sector. In assignment two, you will prepare a promotional plan for the launch of the new brand. Specifically: 1. You should begin by choosing four (4) brands in the same product category BUT targeting very different market segments (for instance a Mini and a Porsche are both cars so in the same product category BUT target very different audiences). 2. You should compare and contrast the segmentation, targeting and positioning (STP) strategy employed by the different brands. – Explain the meaning and role of STP (drawing on your reading) – Examination the motivators for the buying decision (what needs and wants might be satisfied through the product) – Determine the primary target market for each brand, giving details of the various segmentation variables used and the reasons you think these were selected – Draw a perceptual map to show the positioning of your chosen products 3. You should examine how the different brands adapt their marketing activities to their target market and to differentiate their brands from the competitors. – Explain the meaning and role of the marketing mix tools (drawing on your reading) – As a minimum, compare the different brands? products, prices and distribution methods employed. In order to do this, you should consider the: – Product: o Compare and contrast the product – Price: o Describe the main pricing strategies used o Evaluate the tactical pricing methods employed o Give reasons for the prices chosen – Place: o Explain the different retail distribution strategies employed ? Intensive- exclusive -selective o Evaluate the use of online distribution methods o Assess how the chosen distribution methods appeal to the target market
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