The ‘Strategic Marketing Plan (Part I)’ as assignment one
provides you with a hands-on experience in understanding the concepts related to the strategic marketing management. Additionally, this marketing plan will also enhance your understanding ofthe opportunity analysis through critical aspects such as forecasting the market knowledge, segmentation, targeting, differentiation and positioning.
1.Select a product or service or business idea that interests you the most. Identify the relevance ofthe mission, SMART objectives and hierarchy of strategies ofthe business.
2.Define the industry in which your business will compete by assessing the industry’s five competitive forces and highlight the appropriate conditions for the strategic
fit of prospectorlanalyserldefenderlreactor strategies.
3.Discuss the market and industry attractiveness through macro and micro level analyses in order to address the strategic challenges ofthe business under consideration.
4.Briefly discuss the relevance ofthe marketing research for the strategic decision-making ofthe business and identify the influence of product, pricing, distribution and promotion policies on marketing decisions.
5.Describe the significance ofthe overall segmentation, targeting, differentiation and positioning strategies for the business.choose which ones are more relevant and explain why they are more relevant. You must apply the concepts and theories have learned from your reading ofthe text to the Strategic Marketing Plan (Part I) analysis and not just list or describe them.