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COM3701 ASSIGNMENT 1 ANSWERS (SEMESTER 2) 2023
- Institution
- University Of South Africa (Unisa)
COM3701 ASSIGNMENT 1 ANSWERS (SEMESTER 2) 2023
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QUESTION 11.1 Marketing management can be defined as the process of planning, organizing, implementing,
and controlling marketing activities to create, promote, and distribute products or services that
satisfy customers' needs and wants. It involves analyzing the market, identifying target
customers, understanding their needs and preferences, developing marketing strategies, and
measuring the effectiveness of the marketing efforts.
Marketing management is a critical function for any business, as it helps to ensure that the
company's products or services are effectively promoted and distributed in the market, which can
ultimately lead to increased sales and profitability.
1.2 To develop a marketing plan for CuppaJoe's new ground coffee range, the following steps
can be taken:
Conduct market research: Market research is an essential step in developing a marketing
plan. It involves gathering and analyzing data about the target market, including
consumer preferences, buying behavior, and competitors. This information can help to
identify opportunities and challenges in the market and inform marketing strategies.
Define target customers: Based on the market research, CuppaJoe should define its target
customers for the new ground coffee range. This can include demographic,
psychographic, and behavioral characteristics, such as age, income, lifestyle, and buying
habits.
Develop a unique value proposition: A unique value proposition is a statement that
communicates the benefits of the product or service to the target customers. CuppaJoe
should develop a compelling value proposition for its new ground coffee range that
differentiates it from competitors and addresses the needs and wants of the target
customers.
Develop marketing strategies: Based on the market research and target customer analysis,
CuppaJoe should develop marketing strategies for the new ground coffee range. This can
include product positioning, pricing, distribution, and promotion. For example, CuppaJoe
can position its new ground coffee range as ethically sourced and sustainable, which can
appeal to environmentally conscious customers. The pricing, distribution, and promotion
strategies should also align with the target customers' preferences and buying behavior.
, Implement and monitor the marketing plan: Once the marketing plan is developed,
CuppaJoe should implement it and monitor its effectiveness. This can involve tracking
sales, customer feedback, and market trends to identify areas for improvement and make
necessary adjustments to the marketing strategies.
Conduct market research: Market research can be conducted through a variety of
methods, including surveys, focus groups, and online research. CuppaJoe can also gather
secondary data from industry reports, competitor analysis, and government statistics. The
goal of market research is to gather information about the target market, including their
preferences, needs, and behaviors.
Define target customers: Defining the target customers involves identifying the specific
characteristics of the people who are most likely to purchase CuppaJoe's new ground
coffee range. This can include demographic information such as age, gender, and income
level, as well as psychographic information such as lifestyle and values. By identifying
the target customers, CuppaJoe can tailor its marketing strategies to meet their specific
needs and preferences.
Develop a unique value proposition: A unique value proposition is a statement that
communicates the benefits of the product or service to the target customers. It should be
clear, concise, and memorable. CuppaJoe's unique value proposition for its new ground
coffee range could be something like "Enjoy the rich, full-bodied flavor of ethically
sourced, sustainable coffee from CuppaJoe." This value proposition highlights the
benefits of the product, while also appealing to customers who are concerned about
sustainability and ethical sourcing.
Develop marketing strategies: Marketing strategies can include product positioning,
pricing, distribution, and promotion. For example, CuppaJoe could position its new
ground coffee range as a premium product, priced higher than competing brands but with
a superior taste and ethical sourcing. The company could also distribute the product
through specialty coffee shops and online retailers, and promote it through social media
advertising and influencer partnerships.
Implement and monitor the marketing plan: Implementation of the marketing plan
involves executing the marketing strategies and tactics developed in the previous steps.
The success of the plan should be regularly monitored through sales data, customer
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