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LUBS5465M01

Marketing Strategy

August Resit 2021/2022

Exam information:

    There are 3 pages to this exam.

   A separate case study is provided in the My Online Examination’ area in Minerva.             There will be 48 hours to complete this exam. We anticipate that this exam should take

students approximately 3 hours to complete.

    This exam paper contains three questions.

   Answer all questions.

    The word limit for the exam is 3,000 words.

    It is recommended that you allow a minimum of 30 minutes to upload/submit your work.

The deadline date for this assessment is 9am UK time on 25th August 2022

An electronic copy of your completed answers must be submitted to the exam submission area within the module resource on the Blackboard MINERVA website no later than the    date and time stated above.

Faxed, emailed or hard copies of your exam answers will not be accepted. Late submissions will not be accepted.

Failure to meet this deadline will result in you being marked as absent from this assessment.

Producing your assessment

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If in any answer, it is not possible to complete it electronically (eg calculations, graphs,       formulas) these can be handwritten. Please take a photograph of your workings and save  the image. The image should then be inserted into your examination paper at the correct    point within your answer. It is your responsibility to ensure that any image that is inserted is readable. High quality images can impact the size of the file and causes issues with            uploading.

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Submission

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Front cover

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Student name

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Questions during your exam

If you have a question about this examination paper during the exam, please direct all         queries to the assessment team on [email protected] between the hours of   9am – 5pm (UK Time), Monday to Friday. All questions should go through this route. Do not contact your module leader directly.

Answer all of the following questions. Refer to the attached case study of Red Lobster.”

Red Lobster is in the final stages of a 10-year repositioning plan. A recently completed market research study presents Red Lobster with a new opportunity. The study revealed that almost 25% of Red Lobster’s customers, who are different than its traditional core customers, are highly profitable. Red Lobster is now considering if they should do things differently and take a different position in the marketplace to ensure sustained growth.

1.  Propose to Red Lobster a marketing strategy (STP: segmentation, targeting and        positioning) that can help them grow further in the chain restaurant business. Provide support and evidence for your suggestions. Use necessary tools in developing STP.

(40%)

2.  Discuss how Red Lobster should change its marketing mix. Provide support and evidence for your suggestions.

(40%)

3.  What is Red Lobster’s competitive advantage in implementing its marketing strategy? Justify your answer.

(20%)