Part 1: (1000 words)
Apply the core marketing mix elements (4Ps) for a chosen product or service. Further, reflect how well the marketing mix elements meet the needs of the likely target customer.
In applying the marketing mix consider the following:
o What is the core benefit of the product?
o How does the actual/expected product and the augmented product fit the customer needs or expectations?
o Consider the brand name against Ries (1995) characteristics including potential brand associations.
o What pricing methods look to have been used? (more than one may have been used)
o How do these result in the price(s) charged?
o What do the channels of distribution look like and with what members?
o How does the choice of distribution channel reflect the product and customer?
o What promotional mix and media are used to communicate the product offer?
o How do the choices of what to use (and what NOT to use) reflect the likely target customer?
Throughout, reflect how well the design of each element of the marketing mix appears to meet the needs or characteristics of the likely target customer.
Part 2: (1000 words)
For a choice of service business evaluate how the extra service marketing mix (3Ps) help deliver customer satisfaction for the target customers.
In applying the services marketing mix consider the following::
o What people are involved in delivering the service (contactors, modifiers, influencers, isolateds)
o How ‘empowered’ to make customer decisions are they and what impact does this have on customer service?
o What are the main before-sales processes, during sales processes and after sales processes?
o How do the processes add value to the customer?
– Physical Evidence
o What types of physical evidence are used? Illustrate against the four types mentioned in Blyth& Martin (2016) p284.
o How do these add value to the brand and/or customer?
In your conclusions summarise what you found in terms of how well the product and service appear to meet the needs of the customer and recommendations suggest any areas for improvement.
The submission should be in business report format:
– Title Page, Executive Summary, Contents, Introduction, Section Headings, Conclusion, Recommendations, Reference List.
– The word count covers the introduction, main analysis and conclusion. The Title page Executive Summary, Contents and reference list are outside the word count.
Harvard Business referencing must be used and accurate English is expected.
Include pictures and diagrams throughout to illustrate your analysis.
You are a marketing consultant. A marketing director has asked you to audit one of their products to see how well their marketing mix fits their target customers. They have also asked you to look at the service business as a whole to review the extended services marketing mix. They would like your views on how well they are doing and whether there are potential areas for improvement.
To fit this scenario for the two parts you would ideally choose a product that is delivered by a service business – such as a Big Mac for part 1 and a MacDonalds retail franchise for part 2. It is possible to choose a product for part 1 that is from a separate business to the service business chosen for part 2 – such as a cereal for part 1 and a hairdresser for part 2 – but you would then need to be acting as a consultant to two separate businesses within a combined report.