Assignment : New Balance Marketing Plan: Enhancing Brand Value in Malaysia 2024 Taylor’s University (TU)

PART A

Prepare a marketing plan

Your marketing team leader has assigned you to prepare a marketing plan report (MPR) that can help him to propose the best marketing strategies that can enhance the brand value of New Balance in Malaysian market for year 2024.

Question 1. A
Company background

Work Required: You are expected to prepare the New Balance company background and its value proposition by filling-up the table below.

When providing your response, please ensure to address the following aspects: Cite your sources, quality of sentencing and grammar.

Question 2. A
PEST Analysis

Work required: You must briefly describe the PEST analysis of the external
environment that affects New Balance’s operation in Malaysia. To construct your answer, provide either ONE (1) example for each element, and use in-text citations (Minimum ONE (1) for each element).

When providing your response, please ensure to address the following aspects: quality of sentencing and grammar, relevance of your justifications.

Question 3. A
S.W.O.T analysis

Work required: You must prepare the S.W.O.T analysis of New Balance. To
construct your answer, you must choose from the list provided in the table below two (2) themes for each element (S),(W),(O),(T). When justifying your answer, provide ONE (1) example for each element, and use in-text citation.

When providing your response, please ensure to address the following aspects: quality of sentencing and grammar, relevance of your justifications.

Question 4. A
S.T.P analysis

Work required: You must conduct the segmentation, targeting and positioning
(STP) analysis of New Balance. To construct your answer, provide ONE (1)
example for each element, and use in-text citation.

When providing your response, please ensure to address the following aspects: quality of sentencing and grammar, relevance of your justifications.

Question 5. A
Service marking mix analysis.

Work required: You must briefly describe the service marketing mix (7Ps)
strategies of New Balance. To construct your answer, provide either ONE (1)
example for each element, or evidence from literature (minimum ONE (1) for each element).
When providing your response, please ensure to address the following aspects: quality of sentencing and grammar, relevance of your justifications.

PART B

PART B
Recommend data-driven strategies.

Referring to your response in Part A, suggest seven actionable strategies for New Balance to improve its brand value in Malaysia. The seven different strategies are not necessarily representing each of the 7Ps. The strategy may also include other business areas besides marketing, such as management, operation, and technology. And you can propose more than one strategy for one area, for instance, two different “product” strategies that can improve customer satisfaction. An example of each strategy is required.

Question 1. B
Business performance strategies

Work required: You must suggest SEVEN (7) strategies for the company to
improve its brand value in the Malaysian market. To construct your answer, provide ONE (1) example for each strategy, and support each example with evidence from literature (Minimum ONE (1) for each example). Any evidence, i.e., screenshot of any figure, customer complaint, data etc., can be included.

When providing your response, please ensure to address the following aspects: Cite your sources, quality of sentencing and grammar, usage of clear structure, relevance of your justifications.

-EndType your answer here (Indicative word count: approximately 900 words)

Answer

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