BSB 126 – Marketing Plan
Referencing Styles : APA | Pages : 26
BSB 126 – MARKETING PLAN You are to choose one product from the list below, research the industry and construct a basic marketing plan for how you would LAUNCH OR INCREASE SALES of this product and reach your stated marketing goal. See – The ANSOFF MATRIX for a suggestion about how to enhance this product and your marketing plan. You may consider; Market Penetration, Product Development and Market Development. No table of contents, introduction or conclusion is required.The 1500 word limit (±150 words) is for sections I, II, III and IV only, and should be adhered to or penalties will apply.Sections V and VI are not included in the word count.Wikipedia and other similar sources are NOT to be used or referenced for this assignment.Use ORIGINAL sources such as books, journal articles or industry reports. PRODUCT LIST – Choose one product from this list as the subject of your marketing plan. Assume the role of marketing manager and your job is to construct a basic marketing plan. Australian Working Dog Rescue As a marketing manager how would you increase donations for this organisation? It already operates in Australia but as a not for profit organisation they rely on donations from consumers for their operation. What could be a good/feasible approach to increase awareness of this cause and get more consumers to donate to ensure long term profitability of the organisation? http://www.workingdogrescue.com.au Devondale Chilled Milk There is ongoing tension in the milk wars between the supermarkets and the farmers/milk processors (http://www.smh.com.au/business/milk-wars-likely-to-claim-more-victims-yet- 20150122-12wirn.html). As a marketing manager for Devondale Chilled Milk how would you ensure you increase sales for your organisation under these conditions? http://www.devondale.com.au/our-products/chilled-milk Tesla Model S Car With the first fatality through a self-drive car in the US there has been a lot of discussion around the safety of these cars (https://www.theguardian.com/technology/2016/jul/01/tesla-driver-killed- autopilot-self-driving-car-harry-potter). As the marketing manager for Tesla Model S cars here in Australia how would you ensure growth and development of the market here in Australia given this negative publicity internationally? https://www.tesla.com/en_AU/models BASIC MARKETING PLAN – OUTLINE AND EXPLANATION I. SITUATION ANALYSIS [approx. 250 words] This section provides general information about the marketing environment including the company, its goals and resources. A SWOT analysis and CDSTEP profile might be appropriate here. Given the tight word limit, I suggest you only highlight the relevant macro-environmental forces that are most salient to your chosen product. Direction can be found in chapter 4 of the text, and your tutorial. II. MARKETING GOAL [approx. 15 words] Set your own realistic goal. Marketing goals should have two things – a focus (either monetary or non-monetary) and benchmarks (by how much and by when). Monetary goals can be net income, margins, return on investment, retail sales (and others) while non-monetary goals can be sales volume, market share (and others). III. MARKETING STRATEGY [approx. 450 words] At its basic level, marketing strategy is identifying the target market, and defining the value proposition. You can find additional resources and frameworks in chapter 6 of the text. Target Customers Segment the market and identify one segment you will target. Develop a profile of your target segment. Value Proposition The value proposition is addressing the question “why will your target customers want to buy this product?” You should construct a positioning statement, and you may want to include a positioning map in your analysis. IV. MARKETING TACTICS [approx. 800 words] These are the marketing mix elements that you should tailor to suit your target customers, your company resources and your competition. Product – While the product is already determined, you can suggest product development or branding changes. You should consult chapters 8-10 of your text. Price – Briefly discuss the 5Cs; decide on whether you will use cost, competitor or value based pricing and justify your decision. Are there any other pricing models that might be suitable? Will you offer any incentives? Distribution – Distribution captures the channel through which the product is delivered to customers. Briefly describe the current marketing channels (supply chain) for your chosen product, describe its distribution intensity and offer an alternate/complementary method of distribution. Justify your recommendation. Promotion – Using the “Objective-and-Task” method, describe how you would spend AUD50,000 to help reach your marketing goal. Describe the IMC tool(s) you will use, how the money will be spent, and what you expect to achieve. Promotion decisions should be realistic and suggestions can be found in chapter 13 of the text. V. REFERENCES [not included in word count] You should cite and reference all your sources of information in APA format. VI. APPENDICES [2 pages maximum, and not included in word count] In your 2 pages of appendices you can include any supporting documentation you think is necessary to help the reader understand your marketing plan. It could be: a section of an industry report; some graphs or charts; a mock-up for a print/online ad you have generated for your chosen product (or a storyboard for a TV/video ad); a media alert for the product’s introduction or anything else. MARKETING PLAN CHECKLIST Before starting and subsequently submitting your assignment, you should check-off each item in the checklist below: Use the assignment template provided and keep to 1.5 line spacing, 2.5 cm margins and a readable font such as Times or Calibri. The 1500 word limit (±150 words) is for sections I, II, III and IV only, and should be adhered to or penalties will apply. Sections V and VI are not included in the word count. Include your total word count (for sections I-IV) on the front page of your submission. Use the APA referencing system throughout your document. No table of contents, introduction or conclusion is required. Wikipedia and other similar sources are not to be used or referenced for this assignment. Use original sources such as books, journal articles or industry reports.