Task: Select a financial provider, and develop a new financial product or service that currently does not exist in the marketplace. Then, develop a marketing plan for the launch of the financial product/service.
First, analyse Marketing environment (Macro and Micro):
Macro environment:
a) Political/regulatory environment
b) Economic environment
c) Socio-cultural environment
d) Technological environment
Micro environment
a) Management
b) Competitors
c) Customers
d) Strategic partners
e) Brokers and intermediaries
f) Suppliers
g) Shareholders/members
d) to g) are optional
Second, conduct SWOT analysis.
You have analysed the financial service environment above. Now you need to decide which ones can provide opportunities to your chosen firm, and which ones are likely to pose threats. Also identify strengths and weaknesses of your company.
Third, identify your target market, and their characteristics. You must justify your choice of target market.
You need to identify who are your target market, and state the customer’s characteristics,
Fourth, specifying an overall strategy
Explicitly outline and detail the marketing activities such as pricing, promotional and distribution methods that will take place.
Fifth, specifying actions and timing
You need to develop a chronological order to specify when the marketing activities will be carried out during the first 12 months, e.g., timelines for promotional campaign.
Finally, provide the following:
– References/evidence to support your arguments, ideas, opinions.
– Conclusion summarising the main findings, i.e., what you have written, but do not introduce new ideas.
– Introduction introducing your report, i.e., what you are going write.
– Contents
– Executive summary – a concise summary of the whole report.
You are free to use the format in the UniHub. If not, please comply with the following submission guidelines.
Submission Guidelines:
The front cover must clearly state
- Group ID
- Each of your student numbers;
- Module title and number;
- Coursework title:
- Time and day of seminar, and
- Word count
The essay to be submitted should have a clear structure and be in the following format:
- The essay must be word-processed in font size 12, font style, Arial, and 1.5 line spacing.
- Space inserted between paragraphs
- Page numbers inserted throughout
- The page orientation should be ‘portrait’
- Margins on all sides of the page should be no less than 2.54 cm
- The assessment sheet must be attached in front of your essay.
- Word count: 4,000 words max. This does not include reference list at the end.
- Exceeding the word count will result in a penalty of 10% of your marks for your work.
- Evidence of reading is important and therefore sources must be correctly cited and fully referenced in Harvard style.
