Demonstrate a critical appreciation of the major steps involved in conducting research. (b) Demonstrate an extended understanding of various business research designs and methods, and be able to evaluate and….
assess the current market for your brand (and product) and recommend changes based on opportunities (and minimal threats) in the market and justified by primary and secondary research.
As the brand manager for your consumer product (Fast Moving Consumer Good/FMCG), you have been asked to assess the market position of your brand and product and make recommendations for improving the brand’s performance in the market for both the customer and the company. You need to assess the current market for your brand (and product) and recommend changes based on opportunities (and minimal threats) in the market and justified by primary and secondary research. Part of the assessment is to identify the strengths and weaknesses of the organisation to improve the brand’s performance. Your decisions need to be based on an analysis of the market using both primary research (e.g. target market feedback, observations of the brand and other brands in the product category), and secondary research (e.g. Industry reports and peer reviewed journal articles about marketing your product category). When the senior marketing team reads your marketing plan, they need to feel confident that your strategies and tactics will be successful because you have justified your recommendations with research as mentioned.