Essay Adjust Marketing Strategy Assessment – Management Assignment Help

Assignment Task:

TASK:

Adjust Marketing Strategy Assessment Task 3 Template
You will be required to provide responses from the point of view of a newly appointed member of the Stingray’s Marketing Team. The Marketing Manager has requested for this new team member to conduct an analysis on customer data, review the existing Marketing Plan then propose and present an adjusted marketing strategy for the ARLS (Augmented Reality) product. You are required to answer a series of questions within the 3 tasks of this portfolio assessment.
After reviewing Stingray’s – Best Practise Marketing Policy, ARLS Marketing Plan, Marketing Best Practise Policy you have to identify and present a rationale for a new focus of appeal that will require an adjusted marketing mix. You are to gather information to support your recommendation on how you plan to target the market segmentation. You need to investigate and propose alternate activities required to establish a newly adjusted marketing mix. All the while adhering to Stingray’s policies as well as legal and ethical obligations.
Part A
Gather information reviewed from Stingray’s Marketing Plan and the consumer response documented in the Marketing Report and conduct research to identify and present your rationale for a new focus of appeal and adjusted marketing mix. Your rationale (Part A) must will be documented by answering all of the following questions in the order outlined below and in line with the word counts shown. You are to present their rationale using simple and concise language.
You are required to:
Identify and explain any key customer pressure points that have led them to slow sales growth (hint: investigate past trends and performance which may have led to this conclusion). Analysing the ARLS Marketing Quarterly Report, identify additional target market segment that Stingray could explore. What are their consumer priorities, needs and preferences? What could be the new focus of appeal? (200+ words)

Propose an adjusted marketing mix for the ARLS product to address what you have identified in the previous question.
Select a marketing mix with adjusted components that best satisfies this new target market.

Explain how these variations will meet Stingray’s marketing objectives, the innate and acquired needs of the newly identified target market (their needs, preferences and priorities) and the desired positioning of Stingray. Explain your rationale for the new focus of appeal and describe how it will influence customer behaviour (decision-making) through to purchase. Discuss how the revised marketing mix meets key organisational, strategic and operational marketing objectives and whether any products or services should be created. (150+ words)
Describe how the new product positioning relates to product, pricing, promotion, distribution and service variations. Identify which features of the new product positioning should be tested and assess any future environmental factors that may have a potential impact on the marketing mix. Provide two (2) examples with an explanation for each.
(150+ words)

Explain how the new features will be tested and how they will monitor the results to ensure the adjusted marketing mix and the focus of appeal meets:a) Stingray’s marketing strategic desired positioning and operational objectives as set in the marketing plan
b) Budgetary requirements as set out in the marketing plan
c) Legal and ethical obligations
Identify any changes to the organisational structure/s and procedures that will need to be amended as a result of this adjusted marketing explain.
Explain whose approval within Stingray’s organisational structure would be required to be obtained if this adjusted plan is to go ahead (consider resourcing and budgeting implications).
(100+ words)

Clarify and explain the role of the customer within the digital marketing environment and how the consumer behaviour on digital platforms is different to traditional environments (ie. availability, opening hours).
Explain how this will model will monitor engagement, conversations and interventions (replying) on social media platforms. Provide two (2) examples.
Explain how this marketing strategy (and other similar strategies) will address consumer appeal and motivate their decision making (consumer behaviour).
(50+ words)

In the adjusted marketing strategy, show how you would:
a) Evaluate implications of altering one or more components in response to market factors and customer response and customer service levels.
b) Adjust components of the new marketing mix in response to test results and market-response evaluations. Explain which statistic techniques should be used to gather and analyse marketing information.
c) Monitor the new marketing mix against marketing performance and isolate components for testing.
d) Assess, estimate and test the impact of cultural, social, personal and psychological influences (at least one [1] of each) on consumer behaviour for the ARLS.
To do this, you will need to state why and what degree you think each influence has on consumer behaviour and give one (1) example.
Hint: Examples of influences could include cultural (social class, cultural groups, values), social (reference groups, opinion leaders, family influences), personal (demographics like age, gender, lifestyle and personality, beliefs) and psychological (perceptions, attitudes and personal factors) (100+ words)
e) Report on success of marketing mix activities developed, and any controls that could be implemented if further adjustments are required to be made.

Part B – PowerPoint Presentation

• After completing your rationale in Part A, you will need to deliver a short 3-5 minute oral (PowerPoint) presentation made to the class, summarising your rationale.
• The presentation must include:
• A rationale for the new focus of appeal outlining how it will influence customer behaviour (based on findings)
• At least two (2) specific recommendations for new or adjusted marketing strategies with a reason why each one will influence consumers and/ or increase product sales.
• Students in the audience and the teacher will act as senior Stingray stakeholders. You will need to ask at least one (1) question to the Marketing Manager based on the information presented and record details of the response in your assessment (highlighted in yellow)
• At the end of the presentation you are to provide an opportunity for the audience (stakeholders) to ask any questions to clarify information. Provide a short answer to any question you were asked.