SCENARIO As a result of the work that has been done with a marketing consultancy practice; local staff training business Fastrack Training Ltd; a specialist management training company has decided that they have identified a new product that they wish to launch aimed at businesses in the retail sector. As a background to this you should note that this product has been developed because of the complaints from several large companies and organisations that training providers and colleges are not preparing students with training that meets the needs of the modern business environment. This new product is a series of modules designed to improve and develop the customer service skills of people working on “the shop floor” in retail outlets. The modules are to be delivered via the internet to the retail outlets at their premises and each module has a series of end of session practical tasks that have to be completed in the workplace, witnessed by the employers and written up by the student to be marked by Fastrack Training. You have been asked to prepare a Marketing Plan for Fastrack Training for 2012 that addresses how Fastrack can communicate this development to their target market. Your report must follow the SOSTAC model BUT you are NOT expected to address the issues of Situational Analysis in the model, as this has already been completed by the marketing consultancy and accepted by the board of Fastrack Training Ltd. Tasks 1. Identify at least 3 SMART objectives that are appropriate to the launch of the new product. 2. Identify the appropriate strategies that you intend to utilise for this new product. 3. Design an appropriate marketing mix using the extended marketing mix model. 4. Identify at least 4 appropriate control mechanisms that will identify clearly whether this new product introduction is being successful. This is an individual assignment.All work must be fully referenced using the Harvard system
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