Assessment 1 Marketing Plan Guide PDF

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Assessment'Task'1'–'Marketing'Plan'(Written'Report)' ! Weighting(40%(( ( (CLN(group(up(to(5)( ( Written'Report' ( Weighted:(40%( ( Word(guide: (( ( Date:(Sunday(Midnight,(June(12,(2016((Upload(file(to(Turnitin)! ! Purpose:(To(apply(the(tools(and(techniques(of(marketing(analysis(and(the(CLN’s( understanding(of(the(marketing(planning(process(to(a(practical(organisational(situation.( ( Process/Assessment:(A(detailed(brief(is(available(on(Blackboard.(( ( This(assignment(asks(you(to( the(e ( .(M ( ((for(example,(if(you(were(working( for(Kraft(you(might(choose(to(only(look(at(one(product(category(such(as(cheese.(If(you( were(considering(for(ANZ(you(might(choose(to(only(look(at(retail(banking).(The( organisation(can(be(small,(medium(or(large.(Ideally(it(would(be(good(to(choose(an( organisation(for(which(there(is(growth(potential(and(for(which(there(are( ( ( ( Your(assignment(will(consist(of(sections(and(sub-sections:( ( ((A(one-page(stand(alone(overview(of(this(plan,(from(problem( identification(to(strategy(and(implementation(and(controls)( ( (( External(Analysis((Identify(Opportunities(and(Threats):( • ( • Consumer(Analysis( • ( • ( • ( • ( • Marketing(Models:(PESTLE,(Perceptual(Mapping((as(a(minimum)( (Identify(Strengths(and(Weaknesses)( • of(your(company’s(resources(and(capabilities(and(its(current(strategic(approach.( • (Ansoff(Matrix(could(be(used(here(to(present(both(your(companies(current( market(strategy(and(identify(alternatives(from(other(quadrants).(You(could(also( use(the(Ansoff(Matrix(as(a(relative(comparison(with(main(competitors’(strategic( direction.( SWOT(Analysis((

• Synthesis(of(main(SWOT(items( TOWS(Analysis( • Critical(tool(for(ideation((design(thinking),(to(establish(strategic(ideas(to( establish(strategic(objectives.( Objectives( • From(TOWS(develop(three(SMART(objectives( • Use(a(weighting(table(to(determine(your(preferred(short-term(strategy(for(this( marketing(plan.( ( STRATEGIC(MARKETING(PLAN(( ( Segmentation/Target(Segments( • Analyse(target(segments((i.e.(target(markets)( • Perceptual(mapping(–(if(relevant(to(pursue(in(depth(the(target(segment(s)(you( are(pursuing(with(this(marketing(plan( TOWS(Analysis( • Having(narrowed(your(consumer(focus(it(may(be(relevant(to(revisit(your(TOWS( analysis(to(establish(how(best(to(ideate(for(your(chosen(target(segments.( Strategic(Ideas( • Develop(a(number(of(strategic(alternatives((they(may(be(complimentary(or( alternatives)( • Choose(your(preferred(strategy(ies)( • Develop(a(detailed(marketing(mix(for(your(chosen(strategy(or(complimentary( strategies( Implementation( • Provide(an(implementation(program(of(timing(and(budget((estimation(is(fine(or( relative(size(such(as(percentage(of(marketing(budget(for(each(item).( Controls( • Contingency(plan(and(measurement((state(as(a(process,(keep(this(section(brief).( ( Note:(Excellent(marketing(plans(read(as(a(picture(story-book(with(a(clear(narrative,(and( are(substantiated(with(analysis(of(appropriate(data/information(throughout.(They( include(a(blend(of(academic(and(industry/digital(references.(Marketing(models(are(the( visual(evidence(of(detailed(and(insightful(analysis.(Ensure(you(reference(every(claim(to( knowledge(you(make,(and(that(you(explain(every(bit(of(evidence(provided.(If(you( present(a(model,(ensure(you(inform(the(reader(how(and(why(this(is(relevant.(Evidence( of(marketing(theory(and(concepts(throughout(is(provided(both(via(the(use(of(marketing( terms,(models,(references(and(in(the(manner(you(interpret(meaning(from(data(and( information.(Marketing(planning(has(the(design(thinking(process(embedded.(This( provides(a(relevant(guide(for(you.(( ( A(marketing(plan(consists(of(a(Situation(Analysis(and(a(Strategic(Marketing(Plan( ( Situation'Analysis' You(will(be(assessed(on(your(ability(to(conduct(relevant(research(that(supports(your( critical(analysis,(to(synthesise(internal(organisational(and(external(industry(information( and(macro(environment(related(data,(and(to(communicate(the(key(issues(relevant(to( your(organisation.(You(will(also(be(assessed(on(your(ability(to(develop(relevant(and( justified(organisational(objectives(that(are(achievable.((

( This(assignment(will(develop(your(capability(to(research(and(analyse(key(issues(relative( to(your(organisation(from(a(marketing(perspective.(The(research(you(conduct(will( underpin(your(analysis(and(support(your(objectives(chosen.(The(written(assignment( will(demonstrate(your(achievement(of(a(number(of(learning(outcomes(and(in(particular,( your(understanding(of(how(trends(in(the(external(environment(impact(the(marketing( aspect(of(the(organisation.(( ( Marketing(tools(to(employ(include(Ansoff(matrix((to(identify(current(and(potential( strategies),(Pestle(analysis(to(consider(external(environment(influences(and(trends,( Perceptual(Mapping(to(position(your(SBU/brand(relative(to(consumer(attributes(of( importance,(Market(Segmentation(to(identify(segments(within(the(market(of(which(your( SBU/brand(has(targeted((i.e.(target(segments).(Other(tools(to(consider(include(Porters( Five(Forces(model,(and(Kapferer’s(Brand(Identity(Prism.(A(list(of(other(marketing( analysis(tools(is(provided(in(your(Topic(Summary(notes.( ( The(basic(framework(of(this(analysis(and(objectives(includes(synthesising(internal( strengths(and(weaknesses,(and(external(opportunities(and(threats(into(a(SWOT(analysis,( which(aids(a(deeper(understanding(of(the(marketing(problem.(A(TOWS(analysis(will( then(assist(with(the(ideation(process(of(determining(potential(strategic(objectives(from( which(you(will(develop(alternatives.(A(weighted(analysis(with(then(enable(you(to(limit( your(strategic(objectives(to(your(top(three,(from(which(you(will(recommend(one(moving( forward.( ( ' The'Strategic'Marketing'Plan' You(need(to(build(a(persuasive(narrative(for(why(your(idea(s)(idea(can(make(a( difference(to(your(SBU.(You(will(need(to(design(your(offering((product(and/or(services( 4P’s(or(7P’s)(based(on(your(understanding(of(the(market(and(decide(on(key(attributes,( pricing(strategy,(distribution,(and(how(the(value(will(be(communicated(in(ways(that(will( satisfy(your(customers.(Branding(may(also(be(a(consideration.( ( A(key(component(of(this(assessment(is(your(ability(to(use(marketing(models(of(analysis( and(present(and(apply(relevant(marketing(theory,(which(underpins(your(analysis.(In( this(case,(the(problem((how(to(achieve(the(objective)(is(solved(by(your(design(of(a( marketing(plan(in(an(existing(or(new(market.(( You(will(be(assessed(on(your(ability(to(research,(present,(and(apply(marketing(theory,(as( well(as(your(ability(to(think(critically(about(the(implications(of(marketing(theory(to( practice.(You(will(also(be(assessed(on(your(ability(to(design(a(synthesised(marketing( plan,(which(clearly(integrates(the(marketing(mix(elements,(relevant(to(the( organisational(objective.( ( The(written(report(will(demonstrate(your(achievement(of(relevant(learning(outcomes( and(in(particular,(your(evaluation(of(the(design(options(regarding(marketing(mix( elements(in(different(business(contexts(within(your(design(of(a(marketing(plan(that( contributes(to(professional(practice.( ( A(rubric(will(be(available(to(guide(your(assessment.(Referencing(of(both(peer(reviewed( academic(literature(and(other(sources(of(information(is(expected.(

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How to develop your Marketing Plan? The structure of your Marketing Plan is outlined above. Marketing Plan Further Guiding Notes: 1) Executive Summary Note that your executive summary should be a one-pager and should stand alone in informing the reader of the design thinking / marketing planning process and outcome. Identify the problem, substantiate that a target consumer segment has a need for a solution. Summarise what your ideation revealed and what you recommend. Explain your timeframe for implementation and apply some some risk / benefit analysis to adopting this approach. Keep it simple so that a reader can clearly see that you have explored a known problem, provided a design thinking approach to develop creative solutions from which you have identified your best recommendation in order to meet marketing objectives, which sit within the framework of corporate objectives. 2) Situational Analysis The premise for marketing planning is to have credible background data about the company’s situation in the market. The main goal is to assess where the company is now; what is its current marketing situation and marketing environment. The situational analyses can be divided into two parts; external and internal. The external analysis usually includes data about the company’s business environment such as industry characteristics (size, growth, distribution channels), environmental influences (PESTEL analysis), competition, consumers and importantly, trends (consumer demand, distribution channels, product innovation etc.). The defining feature of the external environment is that it includes all the factors, which the company has no control over. In a marketing plan an analysis of growth opportunities is important. General trends behind markets and their environment are also important. Competitive analysis provides a clear indication of relative market share and the nature of competition. Important questions are addressed such as what segments competitors target, their relative positioning (e.g. are they brand leader, follower, innovator etc.). Ultimately you aim to consider whether some segments are more profitable than others and whether there may be gaps in innovation, such as exploiting unique ways to meet consumer demands (unique innovations or distribution channels). For example, it may be that all competitors of a fast moving consumer product use a supply channel that squeezes financial margins per unit. Perhaps alternative supply channels may be enabling greater margins and return on investment to be attained (e.g. Online booking agencies manage supply and demand cycles within the accommodation industry).

Alternatively, targeting existing consumer segments using product innovation may enable growth opportunities (e.g. anti-bacterial hand wash as an innovation from conventional hand wash may increase consumer sales to existing consumers). Other examples include repositioning successful brands to new consumers via changing marketing communications (e.g. Napisan a trusted nappy wash brand was repositioned as a superior trusted stain remover for adults clothing). Identifying successful trends that have proven more effective in the current environment is critical as consumer markets evolve. You need to consider how your competitors are behaving relative to yourself in the current environment and evaluate relative success. An ANSOFF Matrix is used to identify the current marketing strategy adopted by your organisation. Stage 1: Describe the company/SBU that you are considering. This should provide some background on the case that you will be analysing, and should be concise and relevant. Avoid placing interesting information that adds little value to identifying the problem at hand (1.5 spacing, 12 point font). Within this, provide a brief competitor analysis and outline the SBUs relative strengths and weaknesses. A comparative table may assist to depict the relative strengths and weaknesses of your company and its competitors. Note that strengths and weaknesses are internal to the organisation, whereas opportunities and threats are external to it. Stage 2: Outline the marketing environment for your SBU. This should include a PESTLE analysis that is relevant to the industry that you operate in. At the end of this section, provide a summary of the key trends that are the most important to your SBU, and discuss whether these provide opportunities or threats. In this section you need to be able to answer questions like (please note these are examples only): • Where is the (future) growth likely to come from? • Is the area experiencing population growth or decline? • What drives demand in the future? • What external factors will affect your customers? • What are the interesting segments and why? • Where does the SBU’s top line (sales) and bottom line (profits) likely come from now and in the future? • What recent trends have emerged in the market? • What are the competitors and how are their products positioned and performing? • What does the consumer market look like; how is it segmented? • Is there potential for growth in the market? • How will you be able to capitalise on any opportunities? • Who are the most powerful actors in the value chain (including retailers)? • What opportunities has digital technology enabled? ! Therefore, what you are considering may include some of the following (examples only): Competitor analysis Identifying • Against whom do we compete? • Who are our most intense competitors? Less intense? • Makers of substitute products?

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Can these competitors be grouped into strategic groups on the basis of assets, competencies, or strategies? • Who are potential competitive entrants? What are their barriers to entry? Evaluating • What are their objectives and strategies? • What is their cost structure? Do they have a cost advantage or disadvantage? • What is their image and positioning strategy? • Which are the most successful/unsuccessful competitors over time? Why? • What are the strengths and weaknesses of each competitor? • Evaluate competitors with respect to their assets and competencies. Size and Growth What are important and potentially important markets? What are their size and growth characteristics? What markets are declining? What are the driving forces behind sales trends? Profitability For each major market consider the following: Is this a business are in which the average firm will make money? How intense is the competition among existing firms? Evaluate the threats from potential entrants and substitute products. What is the bargaining power of suppliers and customers? How attractive/profitable are the markets now and in the future? Cost Structure What are the major cost and value-added components for various types of competitors? Distribution Systems What are the alternative channels of distribution? How are they changing? Market Trends What are the trends in the market? Key Success Factors What are the key success factors, assets and competencies needed to compete successfully? How will these change in the future? Environmental Analysis An environmental analysis is part of the External Analysis. The interest is in environmental trends and events that have the potential to affect strategy. This analysis should identify such trends and events and the estimate their likelihood and impact. When conducting this type of analysis, it is easy to get bogged down in an extensive, broad survey of trends. It is necessary to restrict the analysis to those areas relevant enough to have significant impact on strategy. (i.e. conduct a brief PESTLE analysis) Stage 3: Outline three main objectives that you think the company could achieve. Note that these should be justified by use of the strengths and weakness from Stage 1, and opportunities and threats from Stage 2. It can be useful to draft a TOWS* analysis (see Appendix: an integration of your SWOT analysis) at this point to ensure that your objectives are derived from your SWOT items (as per Stage 1 and Stage 2). Be specific, and outline whether these are short term or long term goals. Your objectives may be financial, with a goal to increase sales, or marketing focused to build your brand, and increase awareness of your product. For example: ● To achieve a 15% return on capital employed by a particular time (Profitability Objective)

To gain 5% of the market for sports socks by a particular timeframe (Market Share Objective) ● To make X brand of cereal the preferred brand of 35-49 year old females in Australia by a timeframe (Branding Objective) ● To focus on developing supply channel network (a marketing capability objective) ● To extend presence and reach in within particular target markets (part of a growth objective) ●

Within the context of the assignment you will use desk research and secondary data on the company, the products and markets, its competitors, technologies, regulations, and general trends in society (for example health, safety, travel, shopping behaviour, entertainment, relationships, sustainability, wellbeing, aging, convenience, etc.).

3) Strategic Marketing Plan The second main section of your Marketing Plan asks you to develop the marketing mix for your SBU to achieve one of the objectives listed in the first assignment (Note that we expect you to use the feedback from your first assignment to help define which objective is best suited). You need to build a persuasive narrative for why this idea can make a difference to your SBU. You will need to design your offering (product and/or services) based on your understanding of the market and decide on key attributes, pricing strategy, distribution, and how the value will be communicated in ways that will satisfy your customers. Your strategic marketing plan will include the following elements: A revised TOWS analysis may be required to focus upon your chosen target segment (not essential to present a second TOWS, however, it can be useful to demonstrate that in the Situation Analysis you were open to all segments of the market, whereas you have narrowed your focus to a particular target segment(s) as the focus of this plan. This can be useful to demonstrate to the reader how you began broad and open in your approach to design thinking, and now you have narrowed your lens to present a focused solution to an identified problem. ● A SWOT and TOWS* analysis table is recommended here. The TOWS analysis ensures due diligence in formulating strategy, ensuring that all strategy alternatives are derived from your external and internal analysis of your SBU. This will help avoid a major weakness of many marketing plans, a lack of continuity between the marketing analysis and strategy formation. ● Marketing objective and Strategy of your business ● Please choose one objective (from Stage 1) ● Also include the overall direction for your SBU ● Define the customer ● Are you going to segment and target a specific group, or mass market? Note that some marketing plans focus only on a specific segment that will be targeted for maximum growth. If this is the case, you will need to outline this segment and justify why this one has been chosen. If you have decided not to focus on a specific segment, you will need to justify this decision instead. ● Marketing mix tactics ● This includes the tactical elements you will use to carry out your strategy and reach your market. ●

● Note that these will vary depending on whether a product and/or service is chosen. ● If you are addressing the brand and brand positioning, then include this here also. ● Action plans and budgets ● What key tools are required for implementation? ● How will your proposed marketing mix elements achieve your objective? ● What financial elements are required for the next five years? You will need to use rough estimates to make projections for the next five years. What is the return on investment? When is the break-even point? Make clear what parts are based on data, sources and what are estimates. ● Organisational implications ● Based on your SBUs strengths and weaknesses, will you be able to achieve your objectives? If not, what changes may need to be implemented?

Since all marketing mix elements are involved, a clear integration should guide your decision (for example, if the product is a luxury product, the vision around a premium product, high price, brand equity development, selective distribution, and premium packaging, for example, need to be integrated). A well-written paper will include strong support for its main arguments. Support for your report should come from secondary (information that has been processed or interpreted by someone else) sources. You are expected to underpin your ideas with marketing theory. Use the library database to source relevant theory for this purpose. To use your support effectively, you must elaborate upon the information, quotations, and examples taken from your sources and connect them to your paper. The Harvard referencing system is recommended.

Note: A significant portion of yo...