In this assessment, working from the materials you developed in Assessment 1, you will be required to individually construct a one-year marketing plan, that will provide growth for your brand within the Australian market.
The assessment requires you to undertake consumer segmentation, targeting and positioning; determine appropriate marketing objectives, develop appropriate brand strategies and corresponding marketing tactics that will deliver the set objectives.
The plan must show your ability to develop an integrated marketing plan that will be relevant to the target consumer, realistic and meet the brand objectives and projections.
The work must demonstrate multiple management skills at the postgraduate level in the areas of business acumen, such as applying correct report writing and referencing skills, selection of appropriate models for application in the assessment task. Further, it must respond to the analysis undertaken from Assessment 1, along with the ability to synthesise information obtained from multiple sources, and apply critical thinking to arrive at a well-supported plan for the brand.
Components of the assessment
Below is an outline of the sections that you must report on in your submission.
Section 1: Segmentation and brand strategy
1. Consumer Segmentation
Construct a segmentation model and shows a 6 to 8 consumer segments. The model must show your ability to understand the theory of segmentation (meeting all five criteria of segmentation). The segmentation must be founded on both primary and secondary research.
2. Primary and secondary target market
Construct and supply a persona and consumer journey map for both the primary and secondary target market.
3.Positioning / perceptual map
Construct a positioning map that show the points of parity and points of difference for your brand in the category.
4. Brand strategy
You are required to develop a clear strategy, applying one model discussed earlier in the semester. Selection must be appropriate to the situation of your brand in the market (such as leader, challenger, follower, or dog, star etc) and analysis must lead to building competitive advantage. This strategy will need to be delivered upon in the other sections of the plan.
Section 2: Objectives
5. Marketing Objectives
Based on the analysis in Assessment 1, determine two appropriate objectives to achieve growth over the 12 month period (July 2018 to June 2019)
Section 3: Marketing program (note: bulk of the document)
Through the work completed in Assessment 1, construct a plan for product mix management. Use various activities that have been undertaken throughout the course to evaluate the gaps in the market, or product improvement opportunities etc that are in line with the strategies identified in Section 1 Brand strategy. Undertake a suitable pricing review and set the pricing architecture for the brand. Review the distribution strategy being applied currently and determine the marketing channel roles and make a recommendation to adjust accordingly. Note: you MUST address and adjust product, price and marketing channel.
7. Integrated marketing communication plan
Develop an appropriate integrated marketing communication plan that addresses:
The IMC plan must achieve increased customer acquisition and retention, specific marketing channel activities.
Note: this part must be VERY detailed. Information contained in the plan must be sufficient that an agency or another marketer/employee can pick the plan up and know exactly why the activities was selected, what needs to be done and when it needs to be done.
Section 4: Scheduling, forecasting and control
8. Marketing Schedule & Budget
Illustrate each activity within a schedule that shows the cost of each activity, timing of when it is planned to take place. It is expected the schedule will be broken down by activity, by month, as well as show total costs and the costs for the year.
All assessments will have a maximum budget of $6m for the year (this amount excludes all agency and production costs).
Show how the planned activities will contribute to the gap between the current reported sales and the sales required if the objectives are to be achieved. This should be as a spreadsheet and is very detailed.
Construct a matrix that show how the plan will be monitored throughout the year. Ensure the control area is appropriate for the marketing activities selected, and are checking against the objectives. Make a brief recommendation on what action could be done if the activity is not achieving its desired outcome at that check-in period. This should be quantified and linked to the marketing schedule, forecast and the objectives.
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