“ Back in September, Spotify and Google have teamed up to give Spotify Premium users – the people who pay £9.99 a month to not have their tunes interrupted by ads – a free Google Nest smart speaker.
I thought that Spotify could realise their hardware line, with the goal of manufacturing their own smart speaker. They compete with Apple and Amazon on the music streaming front; it only makes sense for them to offer their own music listening device as well.
They could team up again with the Google and create the new product. Or either by themselves, but their previous collaboration, it could expand further and result in new smart speaker. “
I would recommend to start exploring both market research data and academic resources to support your arguments. You could also explore how the new product fits with the existing product/service, analyse the (new) market segments, how the new product is positioned in the market, how you target this segment and finally the recommended marketing mix and implementation.
I think Spotify expanding to the hardware business will allow you to discuss the associated opportunities and challenges in depth and therefore your choice should work well for the assignment
Instructions for assessment
The mode of assessment: A written report on the design of a marketing strategy and implementation plan for a new or improved product or a service of your choice underpinned by academic and professional literature.
• What % of marks (if any) are awarded for presentation of work and referencing: 10%
• Word limit:3500 max excluding references and appendices
Your final report should include the following sections
Part 1: Introduction and Product/Service Description (10%)
A brief description of the new or improved product or service that is the focus of your report. Agree your choice with your tutor by week 2.
Part 2: A Critical Analysis of the Market Context (20%)
Include a brief analysis of the market:
• Key market trends (e.g. growth trends)
• Who are the key competitors and how are they positioned?
• Summarise the current customer attitudes/behaviours in this market
• Identify the main issues / opportunities you think are relevant including social and/or ethical issues (if relevant)
Part 3: Segmentation, Targeting and Positioning (STP) (20%)
• What base(s) of segmentation you have used and why?
• Include size, geo-demographic, psychographic etc.
• Summarise the profile and persona of your target market and, if not a completely new product, how is the target market different from the segment(s) targeted in the past?
• Include a statement that identifies why your target market should buy your improved product or service– i.e. what benefits it now offers and what problems it solves?
Part 4: Your Recommended Extended Marketing Mix (given your analysis above) (30%)
Traditional marketing mix elements:
• Product (include, for example branding and packaging and service quality)
• Pricing Strategy
• Promotional Strategy including Digital Media
• Channel or Distribution Strategy
Services marketing mix elements (where appropriate):
• Process
• Physical evidence (e.g. including essential and peripheral evidence, servicescape etc.)
• People (including role of customer in the value creation process as well as employees and/or relationship marketing challenges)
Part 5 A discussion of Implementation Issues (10%)
This section should discuss issues related to implementation such as co-ordination between different departments and the role of internal marketing, as well as resources and capabilities required to implement your chosen marketing strategy.
A further 10% of your grade is allocated to presentation and referencing (10%)
