Evaluate a suitable coordinated marketing strategy for the ready meals project.

Mark scheme

Marking points from the official mark scheme (Oct/Nov 2021). The mark or mark type is shown in brackets.

1. [Knowledge] A coordinated marketing strategy is one that effectively integrates marketing objectives, a budget, and the marketing mix.
2. [Knowledge] New product development is the process of designing, creating, and marketing of new goods and services.
3. [Application] WSC's USP is their knowledge and expertise in spice processing and includes secret recipes, which are intellectual property (intangible assets). The new ready meals project could have a similar USP.
4. [Application] WSC's current marketing strategy includes B2B and B2C and the use of social media and recipes on the website.
5. [Application] Demand is growing rapidly.
6. [Application] Current marketing strategy includes fair trade and publicity of fair prices being paid to spice growers.
7. [Application] Positive feedback from focus groups.
8. [Application] Marketing budget of $750000.
9. [Application] Distribution through supermarkets.
10. [Analysis] Feedback from focus groups can enable WSC to identify any issues with current products and to make changes to aspects of the marketing mix, e.g. ingredients, packaging, and projected price to better satisfy customer needs.
11. [Analysis] Social media has successfully been used to contact business customers, which may also work with the new strategy, but the ready meals project may require a new approach, such as face-to-face sales representatives to encourage business customers to taste and experience the ready meals.
12. [Analysis] Demand for ready meals is growing rapidly and WSC has used Fairtrade previously, therefore a premium pricing strategy could be used to differentiate WSC's ready meals and increase revenue.
13. [Analysis] The marketing budget of $750 000 may enable WSC to promote its ready meals by using other above-the-line methods in addition to their social media strategy, such as food magazines and local radio, to increase awareness of its ready meals and be more competitive.
14. [Evaluation] Justification used to support a suitable marketing strategy.
15. [Evaluation] The need for a full coordinated marketing strategy for it to be effective.
16. [Evaluation] The extent to which a suitable marketing strategy for the ready meals is the same/different to that already used by WSC in its current marketing strategy.
17. [Evaluation] The extent to which WSC can maintain its current USP in its ready meals.
18. [Evaluation] Judgement as to how important coordinated marketing strategy may be to the success of the ready meals project.
19. [Evaluation] Depends on whether the $750 000 budget is sufficient to implement a suitable marketing strategy.
20. [Evaluation] Depends on the actions of competitors.
21. [Evaluation] Depends on the influence of the external environment.
22. [Evaluation] Depends on WSC's ability to successfully raise the finance needed to support the project.
23. [Evaluation] Depends on the marketing objectives set by WSC as to what decisions are made about marketing mix, e.g. penetration pricing to gain a foothold in the market.