Project 1 • This is a Diploma Level Qualification. You must show that you have u
ID: 355314 • Letter: P
Question
Project 1 • This is a Diploma Level Qualification. You must show that you have undertaken independent research in order to answer the project questions. When completing this theory assessment please make sure that you properly cite and reference the materials that you have used. Scenario: You work in the marketing department of a new company. The company intends to sell European made kitchen appliances online. These include dishwashers, stoves/ stove tops, ovens, exhaust fans/ canopies/ range hoods, refrigerators, freezers, garbage disposals, sinks and taps, microwaves. They have organised an efficient and effective import procedure for the products they are offering. They now need to develop an appropriate marketing mix for the company. This is a new business and it is important to make the market aware, not only of the products being offered, but of the service associated with the products and of the business itself. 1. Explain: a. What you, as part of the marketing team, will need to know about your market. b. How you will acquire this information. c. How you can make the buying public aware of the company. d. How you could promote the products. e. What the appropriate marketing mix for the products will be. f. How service will come into the marketing mix, what its importance is and what service should be applied. 2. Justify the marketing mix in terms of the four Ps and write a report that can be submitted to senior management outlining the procedures followed to determine the best marketing mix and the reasons for selecting the different components. 3. Explain how you should monitor the marketing mix and what metrics you could use. Explain why these procedures have been selected. 4. Initial market take-up has not been as good as you expected. What will you do? Senior management have asked for a report. What information will you need to collect, analyse and document? What actions will you take? Provide reasons for your answer. How will you present this information to senior management? An answer of approximately 1500 words will be necessary. You will need to present two written reports for management -Question 2 asks for a report on the marketing mix and Question 4 requires a presentation for senior management.
Explanation / Answer
The new company needs to create a successful marketing mix:
A. as part of the marketing team one needs to assess the needs of the customer. we have to understand customers in the area (geographical location) we plan to launch the products.we need to understand the appeal of the product to the customers.One needs to understand how people make purchase decisions in that space and over what length of time.we need to understand if the product will sell. we have to make the brand identifiable/ strong brand presence or promote a new brand. the likes and dislikes of the customers , their purchase behaviour, their search for better alternatives, their spending patterns, price of similar products in that area, availability of alternatives, all these points need to be well researched before entering a new market.
b. acquiring information:
know what your customers want most and what your company does best. focus on where those meet.-kevin stirtz, marketing author.
(c and d) we can make the public aware about the company and its products in various ways( product promotion)
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