Your team are hired as a team of business consultants working for a well-established brand in Hong Kong.(We chose Shangri-La Hotel HK)
For this consultancy project, you are required to come up with a new product and devise a marketing plan to support the new product launch by your chosen organization in the coming year.
Please critically review the marketing environment (including microenvironment and macroenvironment), current buyer characteristics and the major/unsatisfied needs of customers.
Your team may like to conduct Market Segmentation, Targeting and Positioning Analysis for the new product launched by the organization and determine whether it should be targeted to existing or new market segment(s).
Actionable programs in the various marketing mix elements should then be formulated to support the new product launch and settle the various external and internal challenges identified.
Relevant theories and references should be included, wherever appropriate, to justify the marketing decisions of the company and in making recommendations.
The marketing plan should contain the following:
ž Present a brief summary of the main goals and recommendations, which will help
top management grasp the key points of the marketing plan quickly.
Table of content
Current marketing situation (30%)
ž A review of marketing environment (including microenvironment and macroenvironment) that may affect customer’s purchasing behaviour
ž A review of current buyer characteristics and the major/unsatisfied needs of customers
ž A review of competitiors
SWOT analysis (10%)
ž Review the company’s internal strengths and weaknesses, assesses the major threats and opportunities in the current marketing situation, helps management to match the company’s strengths to attractive opportunities in the environment, while eliminating or overcoming weaknesses and minimizing threats
Segmentation, targeting, positioning, and market objectives (15%)
ž Segmenting the market and specify the target market and determine the positioning of the chosen company (Please recommend changes where it is deemed beneficial to the company)
ž Determine and state clearly the marketing objectives that the company would attain in the coming 12 months
Marketing strategy (30%)
ž Outline the broad marketing strategy by which the company would use in order to
achieve its marketing objectives. In particular, how would the company be able to
differentiate its new product against others in the same market?
ž This section outlines specific strategies for each marketing mix element to support
the new product launch and respond to the threats and opportunities spelled out
earlier in the plan
References and appendix
* Organization of report (15%) include: executive summary, references, structure, logical flow, spelling and grammar mistakes, progression of ideas
The data of this assignment should come from primary and secondary sources. You may conduct literature review of academic journals, magazine, newspaper, books, government reports, and other reliable sources. All claims have to be well justified with data and findings.
To complete the assignment effectively and timely, you should study the relevant topics in advance by referring to the textbook provided.
Please include the word count on the title page of the assignment.
The written report should be word-processed in font size 12, single-spaced, with one- inch margin on all sides of the content
Clear headings and subheadings should be used in each section
Tables, charts, pictures, images and figures, if any, should be included in the appendix
1. Analyse marketing opportunities and plan ways to gather information about customers, competitors and the marketplace for effective marketing planning.
2. Describe and segment the consumer markets in respect of their geographic, demographic, psychographic and behavioural characteristics, and forecast the segments’ potential.
3. Critically analyse decisions on the four marketing-mix elements – product, price, place and promotion – based on concepts and theories; and
4. Apply the marketing concepts learned to develop, collaboratively, a marketing plan for a particular marketing objective/set of objectives of objectives and justify all the aspects of the integrated plan.
Current market situation analysis (30%):
Ÿ Distinctive current market situation analysis
Ÿ Rich and appropriate current market situation examples with detailed description on major/unsatisfied needs of customers
Application of SWOT analysis (10%):
Ÿ Excellent understanding of SWOT theory
Ÿ Analysis is completely connected to SWOT theory, with a very strong emphasis on how the company may make use of its strengths to capture the available opportunities
Application of Segmentation, Targeting, Positioning and setting marketing objectives (15%):
Ÿ Excellent understanding of Segmentation, Targeting, Positioning and the setting of marketing objectives
Ÿ Application completely connected to relevant theories and provides a lot of useful insights on the target segments for the new product
Application of marketing strategy (30%):
Ÿ Marketing strategies are tremendously congruent with the marketing analysis
Ÿ Original, distinctive, sensible and viable new marketing strategies to support the new product launch