Que BUMKT 1501 Assessment Task 2: Marketing Strategy Assignment

This task is a continuation of Assessment Task 1 and represents the outcome of your Situation Analysis. The two linked tasks examine your organisation’s current situation and subsequently lead to the creation of a marketing plan. BUMKT 1501 Assessment Task 2: Marketing Strategy Assignment Question

BUMKT 1501 Assessment Task 2- Marketing Strategy Assignment Question

Your Task
The purpose of this assignment is for you to demonstrate your understanding of marketing theory and its application in practice. This assignment requires you to integrate marketing theory and company activity to demonstrate an understanding of key marketing concepts.

You and your partner will select a brand with a high market

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profile and a strong web presence. Your choice of brand must be approved by your lecturer/tutor. You must then design a new consumer product for your brand (new to the brand, not necessarily new to the world). Once you have determined your new product, you will then create a detailed marketing strategy following the structure below.

Every business needs a current marketing plan that represents an organised, strategic way of approaching the market for the plan period: typically 12 months

Keep in mind that your Marketing Plan is a blueprint for your client (or your own company) to follow as they implement your directions. You need to be confident and specific in the expression of your directions (avoid words like ‘could,’ ‘should’ and ‘may’. They weaken your marketing plan).

You are doing two things here: firstly, you are analysing the current environment as you look for opportunities you can leverage for your brand, and threats you will need to mitigate as you consider your new product and its introduction to the marketplace.

The second aspect is development of a detailed plan for the implementation/introduction of a new product into the marketplace.

Each requires sound thinking and thorough analysis of the current situation.

All of your thinking should result from a solid platform of marketing theory, so be sure to refer to your text as you move through the various sections of your plan. Be sure to remain in touch

1 Guide to Assessment Task 2 BUMKT 1501 Sem 2, 2017

with your lecturer to confirm you are staying on track with your plan. The more conversations you have with your writing partner and your lecturer during this creative process the better.

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Structure of your Marketing Strategy

This is quite extensive, but there are two of you addressing this task. Be sure to split up the tasks evenly and make sure that both of you are equally comfortable with the others’ input.

Table of Contents Executive Summary

Introduction

Industry background

Marketing Environment

3.1 Macroenvironment
Culture

Demographics etc.

3.2 Immediate (Micro) environment

Company/Brand background

Product overview

Core competencies

Corporate partners

Competitors

Segmentation, Targeting & Positioning 4.1 Segmentation

4.2 Targeting

4.3 Positioning

Marketing Mix

7.1 Product

7.2 Price

7.3 Place

7.4 Promotion

Conclusion

Reference List

Appendices

Assessment criteria

Group Marketing Plan (2 students)

Student Names:

Approx

Content

Word

Mark

count

Executive summary

N/A

• The Executive Summary should address what is in this analysis

• It should contain all the relevant information in the paper to allow executives to

make decisions

• Include all the specific and detailed information you can possibly fit on one page

that will help the executive make preliminary decisions

• Look at your main headings and make sure they are all represented in the ES

Table of Contents

N/A

• Do not use a template; construct this manually

• Includes all the main headings and sub-headings of the marketing plan

• Includes page numbers for each entry

• Space the information over the page to make the best use of white

space

• Entries before the Introduction are shown in Roman Numerals

• Entries after the Introduction are shown in Arabic numerals

• Don’t forget to list figures and tables

• Introduction is always Point 1, Page 1

Marks for front matter

/100

1. Introduction

• Introduction of your company/brand

100

• Introduction of the plan and why you are constructing it

Marks for Introduction

/100

2. Industry background

• Generally describe the industry your brand is in (you’ll need to do some

100

research to ascertain the growth/decline, strength/weakness)

Marks for Industry background

/100

3 Guide to Assessment Task 2 BUMKT 1501 Sem 2, 2017

3. Marketing Environment

3.1 Macroenvironment

Culture

Demographics

See textbook

chapter 4

900

Social

Technology

Economic

Political/Legal

• This information must be current or it cannot be relevant to your situation

• Look for the latest information and trends

• At least three forces must be discussed in detail

3.2 Immediate (Micro) environment

600

Company/Brand background

• This may include: brand history, market share, countries where the brand is sold or

other relevant information

Corporate partners (suppliers, transport companies etc)

Competitors

• Include an overview of the current product mix

• Describe the core competencies of your company

• Identify the corporate partners for your company

• Identify the three major competitors for your brand

Marks for Marketing Environment

/100

4. Segmentation, Targeting & Positioning

4.1 Segmentation

4.2 Targeting

See textbook

chapter 6

4.3 Positioning

750

• Explain the segmentation process using theory

• Identify and describe two potential segments by using the 5 segmentation variables

• Describe a target for your new product in full using 5 segmentation variables (use a

table for this section)

• Describe the position you plan for your new product to hold in your consumers’

minds

• Draw a perceptual map that includes the most important dimensions for your target

• Include the three main competitors identified above

Marks for STP

/100

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Guide to Assessment Task 2 BUMKT 1501 Sem 2, 2017

5. Marketing Mix
	7.1 Product
	7.2 Price
	7.2 Price	See textbook	1150
	7.3 Place	chapters 8-13	1150
	7.3 Place
	7.4 Promotion
Product
•	Describe your new product including the three levels (complexity):
	o Core customer value
	o Brand name, quality level, brand name, features, packaging,
	o Associated services: this is the level that can give you the best competitive
	advantages. Be creative here
•	Identify and justify the classification of your new product
Price
•	Discuss your pricing objectives
•	Select and justify your pricing strategy
•	Discuss your planned pricing tactics
Place
•	Identify and justify your channel strategy
•	Identify and justify your retail strategy
Promotion
•	Select and justify your promotional tools for your promotion mix
•	Identify and justify the advertising objective(s) you plan to use
•	Describe and justify the budget method to be used for the campaign

Marks for Marketing Mix
				/100
6. Conclusion
Bring your plan to a thoughtful and confident conclusion			100
•	relate the conclusions to the implementation of the new product		100
•	limit the conclusion to the current situation; do not introduce new material
•	be objective: avoid exaggerating

Marks for Conclusion				/100
				/100
Referencing
In-text:
•	Make sure you use all authors’ names at first citation. After that you
	can use et. al.
•	Any time you make a claim you must cite the source of the information
	in-text and in the Reference List
•	Be very sparing with your quotes. Only quote when there is no way to paraphrase
	without losing the essence of what the author is saying.
•	You must use the APA style

			5

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Guide to Assessment Task 2 BUMKT 1501 Sem 2, 2017

Reference List

Don’t forget the hanging indent

Proofread your list and make sure they are all correct and in the same font/size

Avoid websites – use Library databases for academic sources

Quality sources, appropriate citation in text and list of references is required

Show evidence of research through using a range of sources, at least 5 journal articles, and your prescribed textbook is recommended.

Appendices

Include any additional supporting information here that is not necessary in the body of the report

Marks for End matter /100

Presentation of Marketing Plan

Appropriate report-style structure, headings, sub-headings and length

Plan is presented in Calibri 11 with 1.5 spacing

Writing is clear and concise

Clear and logical progression.

Spelling and grammar have low error rates

Plan is submitted with full Turnitin report (i.e. not a screenshot of the result)

Total Mark and Comments: