Posted: August 23rd, 2021
based on https://gloryjuiceco.com/pages
1. Marketing strategy– product/service focus and goal setting
a. Stage of the product life cycle:
In which phase of its lifecycle is the product? Explain your rationale and identify what strategies they have adopted or need to adopt to extend their lifecycle or develop a new product.
Outline your segmentation strategy/analysis and selecting best target market(s) and explain related target market profile(s) (you may create new segments) including demographics, psychographics, behaviours, and geographical considerations.
c. Differentiation and positioning:
Position the product and review positioning statements to drive marketing mix (you may reposition the brand).
d. Marketing Objectives:
Objective can be behavioral (e.g., sales, market share, profit etc.) and/or attitudinal (increase in consumer attitudes, awareness, recall, liking, etc.) and they need to be SMART (Specific, Measurable, Attainable, Relevant and Timely).
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