RBP020L061A: A Brief Description of the New or Improved Product or Service: Strategic Marketing Report, UHL, Singapore

Requirement:

A written report on the design of a marketing strategy and implementation plant for a new or improved product or a service of your choice underpinned by academic and professional literature. – Minimum 20 references with 60% academic references not exceeding 3 years – include diagram and illustration to explain – Business to Consumer product based on a single geographical location Follow the assessment brief attached closely and note that PESTEL and 5 Force analysis is also required along with appendix on budgets recommended. 3500 words exclude references, appendix, diagram, and tables.

Your final report should include the following sections

Part 1: Introduction and Product/Service Description 
A brief description of the new or improved product or service that is the focus of your report. Agree with your choice with your tutor by week 2.

Part 2: A Critical Analysis of the Market Context
Include a brief analysis of the market:

• Key market trends (e.g. growth trends)
• Who are the key competitors and how are they positioned?
• Summarise the current customer attitudes/behaviors in this market
• Identify the main issues/opportunities you think are relevant including social and/or ethical issues (if relevant)

Part 3: Segmentation, Targeting, and Positioning (STP)

• What base(s) of segmentation you have used and why?
• Include size, geo-demographic, psychographic, etc.
• Summarise the profile and persona of your target market and, if not a completely new product, how is the target market different from the segment(s) targeted in the past?
• Include a statement that identifies why your target market should buy your improved product or service–i.e. what benefits it now offers and what problems it solves?Part 4: Your Recommended Extended Marketing Mix (given your analysis above) 
  Traditional marketing mix elements:
• Product (include, for example, branding and packaging and service quality)
• Pricing Strategy
• Promotional Strategy including Digital Media
• Channel or Distribution Strategy
• Services marketing mix elements (where appropriate):
• Process
• Physical evidence (e.g. including essential and peripheral evidence, servicescape, etc.)
• People (including the role of the customer in the value creation process as well as employees and/or relationship marketing challenges)

Part 5 A discussion of Implementation Issues
This section should discuss issues related to implementation such as co-ordination between different
departments and the role of internal marketing, as well as resources and capabilities required to implement your
chosen marketing strategy