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Write a report outlining an innovative marketing strategy for this new business, utilising elements: Professional services marketing Assignment, UK
| University | Cardiff Metropolitan University (CMU) |
| Subject | Professional services marketing |
Your team will act as consultants to a new business starting up in Cork providing a range of Financial Services (accounting, financial planning, income protection, pension, and retirement planning) to consumers in the Republic of Ireland. You are required to write a report outlining an innovative marketing strategy for this new business, utilising elements of the extended marketing mix (7p’s) as outlined in the brief below Report length: 12-15 pages of text, plus graphics extra Your report (40%) should include the following: 1. Cover Page 2. Table of Contents (1 page) 3. Executive Summary (1 page) This section should summarise what the report is about, outline the new business name and the main business goals and objectives. Identify the target market(s) for your business, the brand’s positioning in the marketplace, and the key elements of your promotion strategy.
4. Situation Analysis: (1 page. Suggest small table comparing service providers) Conduct a marketing macro environment analysis to describe with examples, how external factors may impact the business. Mention key trends that may influence your new business. Analyse current competitors in the market highlighting 2 strengths and 2 weaknesses. 5. Product Development: (1 page) Summarise your key service offerings. Propose a Brand name for your service. Explain the reasons behind your choice of brand name. Using Canva, design a logo for the business and propose a website name (URL) you would like to secure. 6. Place and Physical Evidence: (1 page) Suggest the design of the website you envisage for your business using examples of 2 others in the industry to inspire your design. Illustrate these using screenshots of exemplary websites.
Suggest other ways to tangibilise your service offering for prospective clients e.g. business cards etc. 7. Price: (1 page) Propose 1 innovative pricing package for one of your services/products offerings. Research what the competitors are doing here. Focus on the pricing strategy for 1 product/service only Promotion: (3 – 6 pages) • Online: Successful digital marketing is complex with different strategies needed to promote the business and its products. Describe the online activities that you think the firm should engage in to promote its activities.
Show examples of advertising or online content such as blog posts that you might post. Identify the platforms you think your company should be engaging with. • Offline: Describe the traditional promotional tools (advertising in print, radio, sponsorship, PR etc.) that you would use to promote your business. Design an A4 print ad for your business. Write a short press release to announce your launch. • Networking: Identify networking opportunities with potential clients which could be utilised for business development purposes. 9. Process: (1 page) Describe possible points of friction in the delivery of the organisation’s services for customers and illustrate how these will be addressed. 10.
People: (1 page) Draft a customer service charter for your business. Ensure it is industry specific and clearly delineates the role of client-facing employees. Recommend how the new business can create a unique top-class customer experience and the role people will play in the process. 11. Societal Marketing (1 page) Design a societal marketing / Corporate Social Responsibility initiative that would assist the company to become a reputable corporate citizen in the community.
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