LBS Analysis of Company Current Marketing Strategy Plan
Pick a company/product/service of interest to your group. Your assignment is to analyze their current marketing strategy and provide recommendations for their future marketing strategy
•Describe the current marketing strategy
•Identify the drivers of the market, i.e., what drives customers decisions in this market. For example, key points in the customer decision process, key customer attitudes and perceptions, segmentation patterns, etc.
•What are the likely changes in the market in the next few years?
•Offer your evaluation of how the marketing strategy needs to change to adapt to these changes.
•Offer one idea of how the company/product/service might implement this new marketing strategy in a specific field such as pricing, promotion, distribution, product (the 4Ps).
This is not a marketing plan, but only an illustration of what your recommended strategy implies.
Note the following:
•You are not expected to collect new data for this assignment – rely on secondary data or prior experience within the group. Where there is uncertainty, state the assumptions behind any estimates or forecasts you make.
•Think of what customers value and their unmet needs.
•It’s a short assignment, you likely can identify many challenges, make many recommendations, etc…, but focusing on fewer issues can often give you a better opportunity to provide more depth and stronger analysis.
•Beware of giving general descriptions of the market without any interpretation, analysis, or connection to recommendations – i.e., look out of including extra information that doesn’t support your arguments, analysis, or recommendations. The heart of the assignment is setting up the issues and resolving them with your strategy recommendations.
