Goal: The purpose of this task is to take an existing food retail product and develop a marketing strategy that re-positions the product in its current market or a new market to improve its appeal. You will also need to make recommendations, based on the strategy plan you develop, for the design a point-of-purchase promotion that communicates your re-position to consumers. To achieve the purpose you will need to demonstrate your knowledge by applying marketing concepts from the course that justify and support your strategy.
Product: Marketing re-positioning strategy plan
Format: This is an individual assessment: 2,000 words. See Blackboard for more details.
Criteria • Comprehensiveness of marketing strategy plan
• Recommendations of POP promotion design
• Quality and relevance of research
• Communication and professional presentation of report
Criteria Considerations
Communication and professional presentation of report: Make it look and sound good! Formatting should be consistent. Structure should be logical. Writing should be proofed and edited, and of a quality standard. Take time to do this well. It matters.
Quality and relevance of research: Quality and relevant research refers to the combination of academic sources and practical/industry sources. I would expect to see research related to consumer behavior/decision making, target market positioning, IMC (specifically focused on retail and POS/POP strategies). Also, using the business databases and websites such as POPAI, retail world, Mumbrella, Marketline, ************ Pass**************omonitor to provide insight on current market trends that are relevant to the product positioning is advised.
Comprehensiveness of strategic plan: This covers the body of your report and is related to the depth and detail you go into to justify your plan.
Some content/sections you may want to consider are: Background (what is the product, who manufacturers it, what types of retail stores is found at, current trends in the product’s category/market); Target ******ience; Current Positioning strategy (who are the competitors?, what attributes is it currently positioned with and do they appear appropriate/effective in terms of influencing consumer behavior/decision making?); Justification for a refreshed positioning strategy (what needs adjustment/what are the opportunities for improvement in the current strategy? What attributes would the new positioning strategy focus on and why? How will it appeal to and influence the consumer behavior/decision making of the (potentially new) target ******ience? How would the retailer and/or company who makes the product benefit from the new positioning?
Quality of POP recommendations: This should be connected to your findings and strategy in the report. In building and justifying your recommendations you may want to consider the following: What type of POP(s) communication would you recommend using and why? Would the POP be designed for a specific type of retail store? Think about the AIDA model (awareness, interest, desire, action) – what objective(s) does the POP communication utlise? What stimuli would you include on the POP communication design to stimulate consumers to understand the new positioning and/or interrupt routine behaviour to encourage a potential purchase? Would it connect to other elements in the promotion mix?