Principles of Marketing

Principles of Marketing

DescriptionIntroducing a new dairy-free product.
With an increased focus on health and animal welfare, as well as concerns for the environment in terms of the global warming, there has been a rapid growth in the non- dairy food/drink sector in certain markets. You have been employed as a marketing consultant for a manufacturer of non-dairy chocolate bars and drinks and asked to research the market and advise on a product aimed at a market segment of your choice. You have a free choice of the product and should give it a brand name as well as a brief description. (You may choose an existing organisation on which to base your product or a hypothetical one).

The marketing manager has asked you to prepare an informal report explaining how you would market the new dairy-free product, and you are to submit your report containing a full appraisal of the following three (3) sections by the required deadline date:

Section 1 – Marketing Environment and Planning Process
a) Briefly introduce your product. Explain the components of the marketing planning process and outline the marketing context for the new dairy-free product, with particular reference to the role/importance of adopting a marketing orientation and its application to the business.
b) Carry out an environmental audit in the form of a PESTEL analysis for the new dairy-free product ensuring that you detail specific market / organisational related facts that are fully referenced where possible.
c) Outline* the extended marketing mix 7Ps and explain how the development of the extended marketing mix could contribute to effective marketing planning for the new product.
* a fully detailed marketing mix analysis is NOT required here – that is required in Section 3 here you are explaining the importance of building a strong and coordinated marketing mix.

Section 2 – Segmentation, Targeting & Positioning
a) Explain how the market for the new dairy-free product could and should be segmented for the consumer (B2C) AND business (B2B) markets.
b) Discuss targeting methods that could be used for the B2C market and who you would primarily target with this new product in terms of characteristics including demographics, behavioural, benefits sought and lifestyle.
c) Explain what is meant by the term ‘positioning’ and suggest how the new dairy-free brand would be positioned in the consumer market.

Section 3 – Marketing Mix Analysis
a) Using the table format below provide ‘creative’ details of the extended (7Ps)
marketing mix for the target market identified in Section 2b above.

NOTE: (The below are submitted in a table format, i will need to attach you a word document file to have a better overview)

Product
Explain how products are developed to sustain competitive advantage – consider the market and competition here

Place
Explain how distribution is arranged to provide customer convenience – where will this be sold?

Price
Explain how prices are set to reflect an organisations objectives and market conditions

Promotion
Illustrate how promotional activity is integrated to achieve marketing objectives – the communications mix including social media.
Analyse the additional elements of the extended marketing mix:

People
How important are the staff to brand purpose and brand image (even if they are not all customer facing?)

Physical Evidence
Packaging could be a consideration here – see for example ‘Fruit Towers’ the home of Innocent brands in the UK giving a feel for the business and offering visits, etc. – or their ‘grass van’!

Process
Think of ethical production here and safeguards to prevent any contamination – customer assurances, etc.