Warner-Lambert Ireland: Niconil, HBS Case Study 9-593-008, Marketing Plan
This is a project for a final grade as part of an BBA degree.
Assignment Warner-Lambert Ireland: Niconil (Harvard Business School case study 9-593-008)
The project is to create a marketing plan for launching Niconil. The format should be word limited to 8 pages and include specific recommendations for target customers, price, positioning, promotional strategy and financial forecasts.
Frameworks to be used and referred to are Decision Making Process or customer journey, Decision Making Unit, 4 Ps, STP (Segment, Target, position process),Channel strategy (design and management), Awareness, Interest, Desire, Action (AIDA), Pricing concepts (sensitivity, elasticity, discrimination, bundling, structure), CVM (custome value management), CLV (Customer lifetime Value), and CRM.
As part of this marketing strategy include specifics concerning the sales forecast and supporting analysis and exhibits to rationalise and justify the recommended strategy. Do not use any information outside of the case study itself as it relates to the company and its performance or decisions as there have been developments to the company since the time of the writing of the case.
â€¢ Go beyond segmentations based upon customer identifiers, to models based upon the customerâ€™s motivation to buy â€“what priority need does this group share?
The second core element
â€¢ Move from product features (e.g. 36-hour duration) to a customer benefit (be prepared if the moment happens) to a narrative (relaxed weekends). The narrative in B2B is often TCO = total cost of ownership.Quantify value to customer when possible.
Any good marketing strategy is based upon a detailed understanding of customer behaviour, particularly the two elements of: (i) thenDecision Making Process that customers follow; (ii) an understanding of the Decision Making Unit, i.e. who is involved and when.
Structure should loosely contain objects from the following format;
1. Executive Summary (strategic analysis)
2. PRODUCT ANALYSIS (Product history, Company strategy, Review of past period)
3. MARKET ANALYSIS (Market definition, Customers, Channels, Competitor products, Forecast developments)
4. KEY ISSUES & OBJECTIVES (S.W.O.T. analysis, Strategic focus, Performance objectives)
5. MARKETING STRATEGY (Target customers, Competitive advantage, Marketing Mix,Justification)
6. MARKETING PROGRAMS (Plan of activity, Budget, Evaluation)
7. PRO-FORMA P & L (Projected results)
9. CONTINGENCY (Scenarios, Outline response)