GROUP Task:

$1.$ Choose a specific product or service: Select a product or service offered by a new or established company $($e$.$g$.,$ Choose a small business operating in your local area $($Cape Town, Western Cape, South Africa$)$ that interests you. This could be a retail store, restaurant, service provider, or any other small business operating in the formal sector.

$2.$ Research and analyze: Conduct thorough research on the chosen product$/$service and its related marketing:

o Marketing efforts: Identify the marketing activities employed by the business $($e$.$g$.,$ advertising campaigns, social media presence, promotional offers$).$

o Target audience: Define the target market the business is trying to reach. o Marketing goals: Analyze the potential short$-$term and long$-$term marketing

goals the business aims to achieve.

$3.$ Differentiate and explain: Clearly explain the difference between marketing and strategic marketing using the chosen product$/$service as an example. Highlight the key elements each concept encompasses.

$4.$ Strategic marketing and entrepreneurship: Analyze the role of strategic marketing in entrepreneurial ventures. Discuss the following aspects:

o How can strategic marketing help identify and validate the market opportunity for a new product or service?

o How can strategic marketing be used to develop a competitive advantage for an entrepreneurial venture?

o Discuss the challenges and adaptations entrepreneurs might face when implementing strategic marketing compared to established companies.

$5.$ Develop a marketing recommendation: Based on your understanding of the chosen product$/$service and its current marketing approach, recommend one specific strategic marketing initiative the company could implement to improve its effectiveness. Justify your recommendation by explaining how it aligns with the company's goals and target audience

Written report $($maximum five pages$)$: Submit a well$-$structured report that includes:

o Introduction outlining the chosen product$/$service and the assignment objectives.

o Description of the product$/$service$,$ its target audience, and its current marketing efforts.

o Clear explanation of the difference between marketing and strategic marketing, using the chosen example.

o Analysis of the role of strategic marketing in entrepreneurship, addressing the provided points.

o Recommendation for a strategic marketing initiative and its justification.

o Conclusion summarizing key insights and learning outcomes.

$$ Technical aspects of Report

$$ Cover Page is NOT included in the $5$ pages of the Report.

$$ Number your Report pages.

$1\mathrm{.}5$ line spacing, FONT Aerial $11,$ align all margins.

$$ Use Headings and sub$-$headings in the report.

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