Students are expected to develop a marketing plan for a new, fictional flip-flop brand that will be launched in the UAE. Students will need to analyse the various environments (external, competitor and consumer) that relate to the flip-flop market and based on this analysis, develop an appropriate marketing strategy for their new flip-flop brand based on concepts covered in the course.
When preparing the group marketing plans it is important to draw on research to support your critical analysis and application of concepts. It is essential that your research is referenced. Correct referencing is important because it identifies the source of the ideas and arguments that you present, and sometimes the source of the actual words you use, and helps to avoid the problem of plagiarism.
Students will first be graded on their work as an individual and then as a group. Each student in your group will submit a different section either External Environmental Analysis, Competitor Analysis, Consumer Behavior or Segmentation, Targeting and Positioning. Feedback will be provided and you can use these comments to improve your final marketing plan.
Marketing Plan Outline
- Executive Summary
- External Environmental Analysis
- Demographic Environment
- Economic Environment
- Cultural Environment
- Political Environment
- Technological Environment
- Natural Environment
- Competitor Analysis
- Direct and Indirect Competitors
- Competitor Analysis Table
- Competitive Positions
- Competitive Objectives (market share etc.)
- Competitive Strategy
- Consumer Behavior
Do consumers seek to fulfill utilitarian, emotional, symbolic or social needs with this product?
Decision Making Process Analysis
What does the consumer do in each of the stages of the decision making process?
Include any internal or external consumer behavior variables affecting the process.
Types of Decision Making
- Segmentation, Targeting and Positioning
Provide a short description of the product market
Identify the different segments within the market and describe them using relevant
Describe your chosen target market(s), objectives and strategy
Describe your positioning strategy
Provide a perceptual map
- Product and Branding Strategy
What type of consumer product are you producing and where is it on the product lifecycle?
Specify the core, actual and augmented product.
Outline any product or brand development strategies
- Pricing strategy
Detail the price. Are you using value-based or cost-based pricing?
Demand and Price Sensitivity
New Product Pricing Strategies
Product Mix Pricing
- Marketing Communications strategy
Marketing Communications Objectives
What mix of advertising, personal selling, sales promotion, sponsorship, direct response
marketing, public relations/publicity will you use?
Is it push and pull?
Develop examples of your communications with reference to the Six-steps of Communication
- Distribution strategy
Explain your distribution channel.
Is it direct or indirect? Who are the channel members? How are marketing functions shared?
Is there a vertical marketing system? Is there potential for any channel conflict (what type)?
What numbers of marketing intermediaries will you use? Who are they? Where are they
located? Do you need a reverse channel?
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