Group Assignment – Marketing Report
This document contains the details for the individual assignment for BUMKT5902 Marketing Management. Included are aspects such as:
• The assignment overview;
• The assignment instructions;
• How the assignments are to be formatted; and
• How it will be assessed by using an Assessment Criteria Sheet.
You should read this in conjunction with the Course Description, which contains other pertinent information on submission, etc. It is your responsibility to fully acquaint yourself with these requirements. If you are not clear on any aspect, please speak with your lecturer who will be happy to clarify any questions.
Overview of the Assignment
Marketing, as you will learn this semester, is a very purposeful activity. It’s no accident that you, as a consumer, are exposed to the Marketing communications you see every day across numerous channels. Behind these messages and campaigns, notably those that target the correct consumers and are well-executed, is a huge amount of research. Marketers draw on information from a variety of sources to develop a clear understanding of the value their product or service provides, how to reach their target market, and how changes in the environments will impact their Marketing efforts.
This information can be uncovered by conducting a Situation Analysis, which is designed to identify trends within the Microenvironments and Macro-environments to better understand the current business environment, customers and the business’ capabilities. Another approach, and the one adopted for this assignment, is to instead use a SWOT Analysis to really focus on the key areas a business should be focusing on in moving forward with their new product or service.
The purpose of this assignment is for students to write a marketing report and give a presentation using the SWOT Analysis as a point to step off from. Groups will begin by selecting a business, either one they are familiar with, one they work for or, if you are wanting to pursue a more entrepreneurial path, a side business you have launched. The group will then identify a new product that the company is going to launch (it doesn’t have to be ‘new to world’, but at least new to the company). This product should be congruent with the company’s image and align with its current offerings. Such an assignment is designed to meet a number of objectives:
• Demonstrate your understanding of Marketing theory and its application in practice
• Integrate Marketing theory with research to provide an in-depth discussion of the relevant marketing environments
• Apply what is being learned in this course directly to a real-life example you may be invested in
• Create a deeper understanding of the content from the course as it relates to the assignment
Solution
Introduction
Marketing plans are an essential component for the company to gain any significant competitive advantage over rival companies. Ideally, a marketing plan targets to achieve competitive advantage through the optimization of the company’s products. A marketing plan comprises of the overall strategies developed by the management for a particular product. Morse explains that a marketing plan is developed to identify the optimal manner in which existing company resources can be utilized towards achieving company goals (2017). In addition, the American Marketing Association observes that a marketing plan is a continuous endeavor that evolves throughout a product’s life-cycle whereby a dynamic approach is developed to determine the suitable marketing options (2017). Consequently, it is a fundamental requirement for the management of any organization to understand the development and execution of a marketing plan. Importantly, marketing plan development is what leads to the designing of a market strategy which is basically the mode of identifying a target market and inclining production towards satisfying the new target market (Chernev, 2015). Further, Chernev views marketing as a mode of value-addition which incorporates both marketing strategy and marketing mix as tools for successful implementation (2015).
Company Introduction
PepsiCo is a large company that deals in production of soft drinks and snacks. Over the past decades, PepsiCo has managed to sustain its quest for dominating the global market share. In this regard, PepsiCo has adapted to global competition and has, over the years, developed a wide and loyal clientele. For this reason, the management of PepsiCo has intended to introduce a new product in a bid to dominate its competitors.
Industry Overview
The food and beverage industry is formidably competitive and requires constant evolution of marketing plans and strategies. Importantly, food and beverage companies have adapted to designing products for multi-generational target markets. Consequently, PepsiCo is constantly looking to identify these new markets and developing products that will facilitate market penetration.
Situation Analysis
Internal Analysis
PepsiCo being a food and beverage company operating in a global market seeks to increase its market share in the global market. Furthermore, PepsiCo seeks to increase the volume of product sale in all the existing markets as well as target markets………………To access the rest of the solution for $10, please click on the purchase button.
