Assessment Task 2: Group Marketing Plan 1) Assessment Details: Your group’s task is to design, develop and write a marketing plan relating to the new product outlined in the company overview below. As the product and company being used for this assessment is fictitious, make any necessary, realistic assumptions you require to develop a solid marketing plan and illustrate your understanding of relevant marketing principles. The task is weighted at 45% of total course marks. Word limit of 4,500 words applies. Any content beyond this will not be read. Due Date: 6 May, 2017 Company Overview; Your assessment is based on hypothetical scenarios relative to a fictitious company. PROTECTA are an Australian owned company which sell smartphone accessories. The company import their goods from China and package them in Australia. PROTECTA was founded in Melbourne in August 2002 by current Managing Director, Allen Chen. PROTECTA’s consumer marketing channels are indirect as they use wholesalers and retailers to get their product to the consumer. Since 2013, PROTECTA’s revenue has been gradually declining, mainly due to competitive forces. Since this time the company have been working to develop their own unique range of products. Their first product range centers on a unique attribute that has not existed before in the consumer electronics market. “QUAD” is the brand of these new products, which are headphones with four earpieces which allows two people to listen to music at the same time. There are 4 different QUAD products: wireless in-ear headphones, wired in-ear headphones, wireless over-ear headphones, wired over-ear headphones. Each product comes in 3 different colours: white, black and red. Allan has engaged your marketing agency to develop the marketing plan for QUAD. Report requirements and format: Ensure that your Marketing Plan includes include the following as minimal requirements: Current Marketing Situation: • Describe the market including the identification of the major target segment, customer needs and corresponding benefit for the segments. Example: Targeted segment Customer needs Corresponding benefits students express style variety of smartphone cases • List the key features and benefits of the organisation’s product • List three main competitors that you will compete against when marketing the product/service and list their market position and key strategies. (Remember: competitors don’t need the same basic product to be a competitor) Strengths, Weaknesses, Opportunities and Threats (SWOT) or equivalent analysis: • Identify and describe three strengths, three weaknesses, three opportunities and three threats associated with your product/service. Objectives: • List three key objectives and identify one major issue that may affect the outcome for each of the objectives. Ensure that you use the SMART principle for your objectives (specific, measurable, achievable, realistic and timely). Marketing Strategy: • Positioning • Product strategy • Pricing strategy • Promotion strategy • Distribution strategy • Marketing communications strategy Action plan: • State four key actions that must happen - now, in six months and in one year • Include a timeframe for each action Controls: • List two tests that you will use to establish your product’s success, profit margins and sustainability Budget and P&L: • Estimates for one year and five years Contingency planning: • Include how and why your marketing plan will be successful • How to identify whether your expectations are being met • What action will be taken if plans are not met Conclusion: Referencing APA Style M ARKING GUIDE BSMAN3008 Marketing for Managers–Assignment 2–Marketing Plan–Group Assignment - 45% Student Names & ID numbers .……………………………………………………………………………... ………………………………………..……………………………………………………..……........................ Component Criteria Grade Demonstrated understanding of the topic through appropriate identification of the fundamental issues for the marketing plan 5% Demonstrates an extremely high level of understanding of concepts and identification of issues HD Evidence of substantial understanding of concepts and identification of issues D Evidence of a good understanding of concepts and identification of issues C Evidence of a basic understanding of concepts and identification of issues P Limited/no understanding of concepts and or issues MF F Quality and completeness of analysis 10% Demonstrates an extremely high level of understanding of concepts used and a comprehensive response to the situation analysis and SWOT HD Demonstrates a high level of understanding of concepts used and a complete response to the situation analysis and SWOT D Demonstrates a good level of understanding of concepts used and good response to the situation analysis and SWOT C Demonstrates a reasonable level of understanding of concepts used and a satisfactory response to the situation analysis and SWOT P Demonstrates lack of understanding of concepts used and/or an incomplete response to the situation analysis and SWOT MF F Identification and alignment of marketing objectives 10% Marketing objectives well identified, clear, extremely relevant and well aligned with the overall marketing plan HD Marketing objectives well identified, clear, relevant and appropriately aligned with the overall marketing plan D Marketing objectives well identified, clear, relevant and generally aligned with the overall marketing plan C Marketing objectives are identified, clear, relevant and/or mostly aligned with the overall marketing plan P Marketing objectives not well identified and/or clear, and/or not relevant and/or not aligned with the overall marketing plan MF F Component Criteria Grade Strategies and application of planning 15% Coherent and logical strategies with obvious application of planning HD Well organised and clear strategies with very good application of planning D Good strategies supported with logic and application of planning C Satisfactory strategies and analysis but not always supported by logic and/or application of planning P Insufficient or no strategies and/or analysis and/or application of planning MF F Evidence of appropriate reading and research to gather information 2.5% Demonstration of extensive, accurate and systematic reading to inform the marketing plan HD Demonstration of a high level of appropriate reading to inform the marketing plan D Demonstration of a good level of appropriate reading to inform the marketing plan C Demonstration of a reasonable level of appropriate reading to inform the marketing plan P Demonstration of an unacceptably low level of appropriate reading to inform the marketing plan MF F Writing and presentation and quality/relevance of supporting documentation 2.5 % Report is extremely well structured, written and presented and includes a comprehensive level of supporting documentation such as graphs/charts HD Report is very well structured, written and presented and includes a high level of supporting documentation such as graphs/charts D Report is well structured, written and presented and includes a good level of supporting documentation such as graphs/charts C Report structure, writing and presentation is satisfactory and includes some supporting documentation such as graphs/charts P Report is poorly written with frequent spelling and/or grammatical errors, and/or poor structure, and/or poor presentation and/or no supporting documentation such as graphs/charts MF F Total:45%