You are required to prepare a marketing plan that marketers use to develop and articulate their strategies. A detailed guide for the marketing plan can be found in Chapter 2 and Appendix 2 of your textbook. Tutorial activities will also focus on the components of this document. The purpose of the group project is to provide students with an opportunity to develop a marketing plan for a selected group of consumers based on the Roy Morgan Value Segments (RMVSs). Group project segments (Roy Morgan Values Segments) Socially Aware Visible Achievement Young Optimism Real Conservatism Something Better Look at Me Conventional Family Life Traditional Family Life A Fairer Deal Basic Needs Source: www.roymorgan.com/products/values-segments/about-values-segments Report (The Marketing Plan) Your tutor will facilitate the assignment of a Roy Morgan Values Segment (the Segment) to your group. Each report will be allocated one segment from the Roy Morgan Value Segments in order to develop a marketing plan which will cover the following components:  Choose a new product in the market (or develop your own) to be targeted to this group of consumers justifying the need of the product in line with the profile of the group and the micro- & macro-environment that the brand is operating within. The “newness” of a product should be viewed from the targeted Segment’s perspective. Your choice of ‘new product’ will form part of the Product Pitch assessment, worth an additional 10 marks.  The product you choose doesn’t need to be one that’s brand new to the (whole) market, just new to your allocated segment. For example; Fair Trade clothing to the “Real Conservatism” segment.  Develop a marketing launch strategy on behalf of the chosen company for the new product targeting the chosen RMVS, and covering all elements of the marketing mix (4Ps: Product, Promotion, Price, Place/distribution), including the overall marketing objective(s) you want to achieve. Your project should address the following key issues:  An analysis of the profile of the selected Segment highlighting key factors that influence their behaviour.  Demonstration of how relevant micro- and macro-environmental forces might impact on the Segment’s behaviour and demand potential for the new product.  A detailed outline of the marketing strategy (using the marketing mix) to be implemented for the new product in achieving your marketing objective(s).  A demonstration of how your suggested marketing strategy using the marketing mix for your new product is responsive to the selected Segment’s needs.