QUESTION 1 [100 MARKS]

Identify a product or service in your organisation that needs to be marketed. Write a report to the management team, discussing the topics below, and make recommendations to them. Substantiate your recommendations by explaining the theory behind your decisions, using your textbook, and at least 3 – 5 academic journal articles. You can also use other online sources to support your argument. Use professional academic writing and APA 7 referencing style.

Identify and evaluate the challenges with formulating a market-driven strategy for the product or service that you have selected. Describe the context in your own company and justify why product or service was selected.

• See this blog as a guideline: https://www.cim.co.uk/content-hub/editorial/todays-top-five-marketing- challenges/; and this article: Jarratt, D., & Fayed, R. (2001). The impact of market and organisational challenges on marketing strategy decision-making: a qualitative investigation of the business-to- business sector. Journal of Business Research, 51(1), 61-72. https://www.researchgate.net/publication/222692276_The_impact_of_market_and_organisational_chal lenges_on_marketing_strategy_decision-making_A_qualitative_investigation_of_the_business-to- business_sector (35)

Perform a market analysis and identify the different market segments in which the chosen product or service can be positioned. (35)

Sketch the typical customer profile (and his or her needs), who could benefit or find value from purchasing your product or service

Answers to Above Questions on Strategic Marketing Management

Answer 1: 

Marketing of products and services is highly essential for every type of Organisation in order to allow its potential customers to know about its offerings. There are different strategies that can be employed in order to market the products and services of an organisation. In this context, the specific product that is selected for the purpose of marketing it within target customers is ……