3000 words (+/- 10% excluding cover page, reference etc).
This assessment addresses the following subject learning outcomes:
a) Critically evaluate underpinning marketing theories and
principles and appropriate research process to collect, store and use of data to generate customer insights;
Critically evaluate customer needs to create value for customers by deploying the resources of the organisation in best possible ways;
Critically evaluate the impact of an organisations marketing mix strategies on its stakeholders
Instructions:
This assessment task builds on the Situation Analysis that you undertook in Assessment 1. This assessment task requires you to expand the remaining steps of the marketing plan to:
Articulate your learning about marketing theories, concepts and principles covered in the course to demonstrate your level of understanding of them to develop a marketing plan;
Articulate the link between marketing theories and practices;
Demonstrate an acceptable level of research skills to reveal the insights;
Apply appropriate business report writing skills;
Demonstrate a logical flow and cohesiveness in the analysis and discussion.
Use the appropriate in text citation and a reference list in the end of your written work. You should provide at least 15 high quality marketing references on APA 7TH
This assessment requires you to act like a consultant to help an organisation develop a winning marketing strategy that intends to introduce a new product or expand its business/markets.
Tasks:
This assessment builds on the previous assessment, Situation Analysis of your chosen organisation that you undertook in the assessment one. Therefore, you need to revisit your assessment 1 and the feedback from your facilitator. Address the concerns, if there is any, indicated for your attention while summarising the discussion from the assessment 1 for the current market situation and the opportunities and threats sections for your marketing plan (i.e., assessment 2). Then, develop a complete marketing plan for this assessment:
1. Develop a marketing plan The aspects that you should include are:
a.
Identify objectives and issues as well as marketing logic to create customer value;
b. Segmentation, targeting and positioning as well as marketing mix strategies (i.e.,4ps/7ps);
c. Action programmes – how marketing strategies will be turned into specific actions that
answer What will be done? When will be done? Who will do it? and How much will it cost (budget)? and controls.
2. Outline the following steps:
a. Clearly define the value proposition of your chosen organisation, product, or the brand;
b. Critically evaluate the overall situation of the organisation (should be summarised from the assessment 1) and suggest appropriate marketing mix strategies:
c. Product – define the product attributes/features to reflect your value propositions
You are advised to review the threes levels that are accompanied with a product and discuss product line and mix strategies;
d. Pricing describe the pricing strategy (cost-based, value-based and competition) that you would recommend to the senior management of the organisation and justify your choice;
e. Distribution outline the distribution strategies, you should discuss a specific distribution strategy (s) – intensive, selective, and exclusive. You also need to discuss channel strategies
(i.e., direct and/or indirect, channel levels – single vs. multiple);
Promotion critically evaluate the promotion strategies you would recommend (i.e., pull vs.
f.
push). You also need to discuss promotional mix strategies (i.e., advertising, salesmanship, sale promotion, publicity, and public relations) as well as media strategies.
Please beware that your marketing strategies should be aligned with the key issues and objectives and/or value proposition, the organisation’s mission, and vision.
g. Action programmes explain how marketing strategies will be turned into specific action programmes.
h. Budget provide a supporting marketing budget which is essentially a projected profit and loss statement.
I.Control outline the controls that will be used to monitor the progress.
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