Assessment Item 2 – Marketing Plan Individual Weight: 45% Part A 20% Part B 25% Word limit: 2400 words excluding cover sheet, table of contents, references and appendices Structure Report – Marketing Plan Part A Marketing Plan Sections 1-2 in Brightspace under Resources Part B Marketing Plan completed Due date: Part A to Turnitin 23 September Part B (part A+B combined) to Turnitin 29 October Return of Marks for Report: 11 November Penalties for late lodgement: i.e. after the due date Students must complete the assessment to pass this subject. Student who do not submit the report by the due date and have not been given special consideration approved by the unit convener, will be penalised 5% of total possible marks per day including weekends. i.e. 5% of 20 marks per day or 5% of 25 marks per day. Learning Outcomes This assessment relates to the following learning outcomes 1. Demonstrate an understanding of marketing and how it is managed within the Australian business environment 2. Evaluate the significance of each component of the marketing mix and their interrelationships 3. Determine the marketing mix for specific markets 4. Monitor and adjust the marketing mix Assessment Task: Prepare a Marketing Strategy for a local small business ( MY physio GESAC) You have learnt whilst studying Marketing Principles this semester that a marketing strategy is made up of two parts. Part A The first part (Part A) is about identifying the current situation the business is operating in. That is: 1. Conduct research and analysis of the business, its capabilities and to identify the strengths, weaknesses, opportunities and threats of the business (SWOT). (Section 2.4 of Marketing Plan) 2. Assessment of both the macro and microenvironments to understand how trends might impact upon the business and how business activity within the microenvironment (suppliers, customers, competitors etc.) might impact upon the small business. (Section 2.1, 2.2 of Marketing Plan) 3. The target market of the small business must be defined using not only demographics but by understanding their behaviour and psychological factors. (Section 2.3 of Marketing Plan Part B Part B of the Marketing Strategy is all about the 4P’s: Product, Place, Price and Promotion. In this section of your marketing strategy for your client, you will clearly outline: 1. The objectives of the marketing plan.(Section 4 of Marketing Plan) 2. The positioning strategy for the business and its brand (Section 3 of Marketing Plan). 3. The product offering (product features and benefits, how it looks, how it will be used, how it should be packaged – what new ideas you recommend to enhance the product offering for the target market). (Section 5.1 of Marketing Plan) 4. Where the product will be sold and how it should be distributed (consider your client’s retail store and determine how the store could be improved to make the layout / presentation more appealing more to the target market) (Section 5.3 of Marketing Plan). 5. The price range most relevant for the target market. (Section 5.2 of Marketing Plan) 6. How you will communicate with the defined target market. You are required to develop an integrated marketing strategy to communicate with the target market. You should identify which methods of communication are most effective to deliver relevant messages to the target market and you must provide an outline/overview of the message, which should be communicated. You will be required to provide rationale for each of the communication methods used and discuss why the message you have created will appeal to the target market. (Section 5.4 of Marketing Plan) 7. You are also required to prepare a schedule for implementing the strategy. This can be completed in Excel or Word (using a table), to highlight when marketing activities should be carried out throughout the duration of the marketing plan. (Section 7 of Marketing Plan) 8. You must prepare a budget for your marketing plan. You will be assessed on how well this marketing budget suits your small business. (Section 6 of Marketing Plan) 9. You will write how the success of your marketing strategies will be evaluated. (Section 8 of Marketing Plan) Additional Notes A template of the marketing strategy, which demonstrates the headings required in your strategy, is provided on Brightspace. You are required to provide 2 copies of your complete marketing plan (Part A and Part B). One copy should be bound and presented professionally. This will be provided to your client. The second copy is for your teacher. This copy should still be presented professionally but please do not bind this copy, simply staple and provide a cover sheet. You will upload a soft copy to Turnitin. Coversheets for submission of assessments are provided on Brightspace. BMM107 Assessment 2: Marketing Plan - Part A 20% Marking Guide Student Name: Student Number: Criteria Fail Pass Credit Distinction High Distinction 1.Brief Macro environmental trends impacting upon the industry and the business / 4 marks No research or critical analysis of information is evident Research is evident but information gathered is basic (supported by less than four references) and provides basic assistance to decision makers Research is evident and some quality information has been gathered (supported by at least 4 references). Some critical thought is evident but may not be logically considered and therefore provides only some assistance to decision makers to determine factors which may impact on the business Research is evident and quality information (supported by at least 5 references) which has been critically analysed has been integrated logically into the strategy and provides clear guidance to decision makers to determine factors which may impact on the business Quality research is evident and high quality information from a range of resources (6 or more references) has been critically analysed. The information has been professionally considered and provides strong guidance to decision makers to determine factors which may impact on the business 2.Brief Micro environmental analysis / 5 marks Inadequate or limited research done. No or inaccurate analysis done of all parts micro environment. Provides little assistance to decision makers Inadequate or limited research done. Some analysis done of all parts micro environment and provides basic assistance to decision makers Research is evident and some quality information has been gathered. Some critical analysis is evident on all parts of the macro environment. Provides only some assistance to decision makers to determine factors which may impact on the business Research is evident and quality information on all parts of the micro environment which has been critically analysed has been integrated logically and provides clear guidance to decision makers to determine what may impact on the business Quality research is evident and high quality information from a range of resources on all parts of the micro environment and has been critically analysed. The information has been professionally considered and provides strong guidance to decision makers to determine what may impact on the business 3. Analysis of the target market / 5 marks Critical analysis of the target market is evident but only limited and/or poor ideas are presented and provides little assistance to decision makers. Critical analysis the target market is evident but only basic ideas are presented and provides only basic assistance to decision makers. Critical analysis of the target market is evident and some quality ideas are presented. This analysis provides sound/good assistance to decision makers. Critical analysis of the target market is evident and is of good quality This information provides very good assistance to decision makers. Critical analysis of the target market is evident is evident and is of excellent quality. This information provides excellent assistance to decision makers. 4. Analysis of the business including SWOT / 4 marks Critical analysis of the business is evident but only limited and/or poor ideas are presented and provides little assistance to decision makers. Critical analysis the business is evident but only basic ideas are presented and provides only basic assistance to decision makers. Critical analysis of the business is evident and some quality ideas are presented. This analysis provides sound/good assistance to decision makers. Critical analysis of the business is evident and is of good quality This information provides very good assistance to decision makers. Critical analysis of the business is evident is evident and is of excellent quality. This information provides excellent assistance to decision makers. 4.Report structure, grammar, clarity of writing, academic referencing / 2 mark Poorly written of an unsatisfactory standard. More than 10 grammatical and/or spelling errors. Very poor in-text reference. Reference list fair but contain multiple errors Adequately academic writing style. 8-10 grammatical and/or spelling errors. Referencing is adequate in-text and in the reference list and Harvard referencing style attempted. Reads well. Grammar, spelling and punctuation are accurate. Writing style is clear. Referencing is of a good standard both in-text and the reference list and follows Harvard referencing style mostly Easy for the reader to read. 1-3 grammatical and/or spelling errors Clear expression, citations are used throughout the report to support points made. Reference list reflects excellent citations and follows Harvard referencing style accurately Comprehension enhanced by excellent written expression. Superior grammar and spelling skills. . Exemplary use of Harvard referencing style both in-text and reference list. Part A of Marketing Strategy - Mark out of 20 Comments: BMM 107 Assessment 2: Marketing Plan - Part B 25% Marking Guide for Product Student Name: Student Number: Criteria Fail Pass Credit Distinction High Distinction 1. Marketing Objectives / 2 marks Does not address the objectives section in any meaningful way, Shows poor understanding of the concepts and poorly applied to the marketing plan Developed some marketing objectives; Shows limited understanding of concepts, some attempt to apply concepts to the marketing plan Developed some suitable, relevant objectives, shows some understanding of the concepts and applied to the marketing plan Comprehensive SMART objectives, demonstrates understanding of key concepts, relevant concepts applied to the marketing plan Outstanding objectives; Demonstrates in-depth understanding of concepts; Well applied to the marketing plan 2. Outline of Positioning Strategy / 2 marks No/little understanding of positioning concept. Strategy to position the business/brand is basic; demonstrating only some critical thought and has limited links to the analysis of the target market. Positioning strategy is based upon a good critical analysis of information gathered and has good links to the analysis of the target market. Positioning strategy is based upon very good critical analysis of quality information gathered and has very good links to the analysis of the target market. Positioning strategy is strongly based on an excellent analysis of quality information gathered and has strong links to the analysis of the target market. 3. Product Strategy / 3 marks No/Limited consideration of the business’s objectives, brand positioning and target market’s characteristics to develop the ‘Product Strategy.’ Some consideration of the business’s objectives, brand positioning and the target market’s characteristics to develop the ‘Product Strategy.’ Good consideration of the business’s objectives, brand positioning and the target market’s characteristics to develop the ‘Product Strategy.’ Very good consideration of the business’s objectives, brand positioning and the target market’s characteristics to develop the “Product Strategy.’ Excellent consideration of the business’s objectives, brand positioning and the target market’s characteristics to develop the ‘Product Strategy.’ 4. Pricing Strategy and Placement Strategy / 6 marks No/Limited consideration of the business’s objectives, brand positioning and target market’s characteristics to develop both the ‘Pricing Strategy and Placement Strategy.’ Some consideration of the business’s objectives, brand positioning and target market’s characteristics to develop both the ‘Pricing Strategy and Placement Strategy.’ Good consideration of the business’s objectives, brand positioning and target market’s characteristics to develop both the ‘Pricing Strategy and Placement Strategy.’ Very good consideration of the business’s objectives, brand positioning and the target market’s characteristics to develop both the ‘Pricing Strategy and Placement Strategy.’ Excellent consideration of the business’s objectives, brand positioning and target market’s characteristics to develop both the ‘Pricing Strategy and Placement Strategy.’ 5. Promotional Strategy /5 marks No/Limited consideration of the business’s objectives, brand positioning and target market’s characteristics to develop the ‘Promotional Strategy.’ Some consideration of the business’s objectives, brand positioning and target market’s characteristics to develop the ‘Promotional Strategy.’ Good consideration of the business’s objectives, brand positioning and target market’s characteristics to develop the ‘Promotional Strategy.’ Very good consideration of the business’s objectives, brand positioning and the target market’s characteristics to develop the “Promotional Strategy.’ Excellent consideration of the business’s objectives, brand positioning and target market’s characteristics to develop the ‘Promotional Strategy.’ 6. Budget and Media Planning relate to characteristics of target market and provide significant detail for efficient implementation of strategy / 5 marks No or very basic media schedule with very limited detail provided. No or very basic budget with limited detail of costings provided. Basic media schedule with limited detail provided. A basic budget is presented with only some costings defined to represent the marketing strategy. Good media schedule with detail provided for at least half of the media described. Good budget presented with good consideration of costings provided to represent the approximate cost of the marketing strategy. A very good media schedule with detail provided for most media described. A very good budget is presented with most costings provided to represent a fair and reasonable cost of the marketing strategy. Excellent media schedule with high level of detail provided. Excellent budget with well defined costings to effectively represent full cost of the marketing strategy 7. Report structure, grammar, clarity of writing, academic referencing / 2 mark Poorly written of an unsatisfactory standard. More than 10 grammatical and/or spelling errors. Very poor in-text reference. Reference list fair but contain multiple errors Adequately academic writing style. 8-10 grammatical and/or spelling errors. Referencing is adequate in-text and in the reference list and Harvard referencing style attempted. Reads well. Grammar, spelling and punctuation are accurate. Writing style is clear. Referencing is of a good standard both in-text and the reference list and follows Harvard referencing style mostly Easy for the reader to read. 1-3 grammatical and/or spelling errors Clear expression, citations are used throughout the report to support points made. Reference list reflects excellent citations and follows Harvard referencing style accurately Comprehension enhanced by excellent written expression. Superior grammar and spelling skills. . Exemplary use of Harvard referencing style both in-text and reference list. Part B of Marketing Strategy - Mark / 25 Comments: