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MKT600 Principles of Marketing

Question

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Task:

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; 

 b) Critically evaluate customer needs to create value for customers by deploying the resources of the organisation in best possible ways; 

c) Critically evaluate the impact of an organisation’s marketing mix strategies on its stakeholders

This assessment is the continuation of your previous assessment of the 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. Then, develop a complete marketing plan for this assessment to: 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. 

To start with this assessment

Outline the following steps: 

a. Define clearly 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 accompained 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) - intesive, selective and exclusive. You also need to discuss channel strategies (i.e., direct and/or indirect, channel levels - single vs. multiple); 

f.Promotion – critically evaluate the promotion strategies you would recommend (i.e., pull vs. 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. 

MKT600 Principles of Marketing

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