Task
You are required to select two companies or brands that markets its consumer products in Singapore. (Groups are to choose a product-based business and not a service-based business). The companies you have chosen should be a manufacturer and not a distributor.
Environmental Analysis
Using online databases like SingStats, Passport, Factiva or Marketline to search for relevant environmental factors that highlight the most relevant social, technological, economic, demographic, competitive, or lifestyle trends affecting the business. You should look for information related to that industry, and/or cite useful statistics or information that helps determine potential of the market, e.g. the size and growth of the market. Source for information that is useful in determining the level of competition in the market. Finally, determine the Product Life Cycle Stage the product is at. Choose any THREE marketing environmental forces that you feel that is most relevant to this business and provide an in-depth analysis of the latest trends (using any relevant statistics and data) and describe the impact these trends have on the business in general. Possible questions you can explore include:
Are there technological trends that would disrupt the business now or in the future?
1.Are there any economic forces at work that may be affect the business?
2.Are there ecological issues may have a significant and dramatic impact on the business?
3.Are there are governmental policies or regulatory issues that may affect the business?
4.Are there changes in socio-cultural space that may influence consumption patterns in this market?
Target Marketing Process
Identify your target markets using the appropriate bases of market segmentation (i.e. geographic, demographic, psychographic and behavioural). Provide a detailed description of your target market in terms of their size and growth potential to determine whether this is indeed an attractive segment to target.
For Positioning draw a perceptual map to determine the differentiated positioning of the two brands. Include also at least three other direct or indirect competitors in their industry.
Designing the Marketing Mix Programme
Product
Describe the product features in detail of the product features of each brand and match it against the list of benefits each feature offer. Evaluate which brand or model is superior in terms of its ability to meet the needs and wants of their customer segment.
Evaluate the use of brand name adopted for the two product or model and determine whether the chosen brand name fulfills some of the criteria of a good brand name.
Examine the packaging and labeling details, if relevant, to determine whether this aspects help in promoting the product benefits well.
Price
Determine which pricing strategies were adopted by the two brands in selling this product or model. You should research on the current pricings and offerings by key competitors, as well as any use of promotional pricings.
Evaluate which brand has applied pricing strategies more effectively in selling this product.
Place
Do an analysis to determine the marketing channel adopted by the two brands for this product. You should describe the channel structure, the types and numbers intermediaries used, the level intensity of the distribution, the type and location of retailers used if any.
Discuss and evaluate the strategies of the two brands.
Promotion
Research for examples of Integrated Marketing Communication (IMC) campaigns done by both brands, of both traditional and online media, used in advertising and promoting the product. You should identify describe at least three promotional tools used by each company.
Evaluate on the campaigns appeal, the choice of media used, it message content, the theme of the campaign, and its overall effectiveness.
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