Identification of target audience and market segmentation.
Task 1 – Report
1) M (625 words approximately).
2) Research Methods Selection: As part of the relaunch, you are required to carry out market research. Prior to your market research you should identify the research requirements to prepare for a successful relaunch of your selected products and solve any marketing problems from the first launch. You will identify and select some methods of research, then discuss their suitability. You must also discuss methods that you have not selected and explain why these are not appropriate for this research (625 words approximately).
3) Market Research Plan: You will create a detailed market research plan and carry out the research. This should include the variety of methods that you have selected from the previous section (section 2 Research Methods Selection). Your research findings must include details appropriate to develop a successful marketing campaign in a digital world. After the completion of your research, you must discuss the strengths and weaknesses of the research and its findings in relation to the product relaunch (625 words approximately).
Task 2: Group Presentation Tasks (4 students) (approximately 625 words)
1) Produce a presentation with images and bullet points in each slide that ‘pitches’ the planned product relaunch to the chosen company executives. The pitch should include all of the following:
a) Identification of target audience and market segmentation.
b) An identification of the projected success of the product based on the market research.
c) Selection of promotional mix for a successful marketing campaign in a digital world.
d) A detailed explanation of how an effective marketing campaign can help lead to commercial success (Slides should be added as an appendix).
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