DRAFT Report Marketing Plan for Shrewsbury [Copyright free image] University: [Your University and Campus] Department: [Name of your School/College] Name of Student: [Student Name] Student Number: [Student Number] This report was requested by : [Lecturer’s Name] Date of Submission: [Due Date] 2 | P a g e 1. Executive Summary A one page brief summary of each section of your plan 3 | P a g e Table of Contents 1. Executive Summary ........................................................................................................................................ 2 2. Introduction.................................................................................................................................................... 4 3. Situation Analysis of your business ................................................................................................................ 5 4. Define the Customer/Target market .............................................................................................................. 7 5. Marketing Objectives ................................................................................................................................... 8 6. Marketing Mix Strategy .................................................................................................................................. 9 7. Conclusions................................................................................................................................................... 10 8. Recommendations (optional) ..................................................................................................................... 11 9. Reference list ................................................................................................................................................ 12 10. Appendices ................................................................................................................................................. 13 4 | P a g e THE FOLLOWING SECTIONS MUST BE WRITEN IN DOUBLE SPACED FORMAT Introduction A brief description of what you are about to show us in the next sections 5 | P a g e 3. Situation Analysis of your business (WHERE ARE WE NOW?) In here we look at the marketing environment forces: micro-environment and macroenvironment that affect your business operations. Therefore, you must associate your knowledge of the environment to the case study. For this task you will need to read Ch. 5 of your textbook & ppts from session 1. Fig 5.1 is a good starting point as you can place Shrewsbury at the center of both environments. To start the analysis you need to ask yourself: What are the forces that are affecting the current situation of Shrewsbury & might affect your future Marketing Plan? As you are dealing with FACTS, especially in the SA you MUST reference your work with reliable and valid sources of information. Please note that you are expected to analyse both environments. Depending on your research some factors might be more relevant than others. At this stage, your business is the destination (Shrewsbury) because you don’t have a specific P/S to focus on. The problem needs to be specified as the lack of tourists is a symptom of the problem. Once you have performed a thorough situation analysis, the problem can be identified from your research. Microenvironment forces: you will need to describe the types of customers the destination attracts every year. Is there any competitor that might attract more tourists than Shrewsbury does? What benefits your competitors provide to the tourists? What else from the micro-environment can affect the destination? Does Shrewsbury have appropriate tourist attractions and infrastructure to attract tourists? Does Shrewsbury have staff & financial resources for tourism? IMPORTANT Micro-environmental forces give you clues for your Strengths and Weaknesses of your analysis. Macro-environment (PEST political/legal, economical, Social/cultural &Technological): For this analysis you might like to use your ppts for session 1 as they show specific points that might help you to identify them. In general, how PEST forces might affect the tourism of Shrewsbury? Are there any government incentives that stimulate tourism in the UK or Shrewsbury? Is there any legislation that might affect the tourism of Shrewsbury? Is the economy stable, slow down or going through as a recession (economical values like GDP can support your analysis? There might be changes in tourism demands that affect Shrewsbury and how technology is affecting Shrewsbury & competitors in attracting tourists. What emerging ecological concerns may affect the tourism in Shrewsbury? 6 | P a g e For example, in Australia we have recently observed an influx of tourists, as well as, overseas students due to devaluation of the Australian dollar. Therefore, the exchange rates allow us to become attractive in two different industries: tourism & education. Those two factors have a reflection on social trends and a shift in population. IMPORTANT Macro-environmental forces give you clues for your Opportunities & Threats of your analysis. IMPORTANT You must summarize your findings of the situation analysis in a SWOT table. A good example is available in your textbook (pg 207-208) as well as, in your ppts from session 1. Your situation analysis ends disclosing three important elements that are mentioned BRIEFLY (a couple of sentences per item): a) Identify the real problem: The lack of visitors is a symptom of a problem b) Identify a solution: The choice of P/S that will fulfill the gap in the market c) Definition of your Target Market: whether mass marketing or a particular segment All the above three items must be deduced from your situation analysis 7 | P a g e 4. Define the Customer/Target market (WHO MIGHT BE INTERESTED IN YOUR P/S) It is very important that your target market emerges from your situation analysis. A potential target market needs to be aware of your P/S, have access to your P/S and able to afford them. Considerations about your target market: Are you going to segment and target a specific group? or mass market? Note that some marketing plans focus only on a specific segment that will be targeted for maximum growth. If this is the case, you will need to outline this segment and justify why this one has been chosen. If you have decided not to focus on a specific segment, you will need to justify this decision instead. The literature can help you to justify your choice of target market. You might like to extend your analysis of your potential target market to bases of segmentation like demographics, psychographics, behavioural & geographical. Are you going to use an undifferentiated, differentiated or concentrating target strategy. How would you describe the positioning of your company or its products? Similarities and differentiations of your P/S in comparison to competitors Detail information about these topics are available in Ch. 6 and session 3 of your seminars As you will need to justify your chosen target market you MUST support your choice with reliable and valid sources of information. 8 | P a g e 5. Marketing Objectives (WHERE DO WE WANT TO BE?) Marketing objectives are actionable goals that guide the marketing plan. They must describe your purpose as an organization to solve the problem and they have to be consistent with the outcomes of your situation analysis and customer analysis. Your objectives need to be realistic so they can be achieved by the members of the group. Objectives must be quantifiable (i.e., increase the number of tourists by xxxx) with specific deadlines and within a budget. Specific objectives will determine what consumer’s needs your P/S will satisfy? IMPORTANT Objectives lead the mktg plan therefore, you must include objectives related to each P of your mktg mix. For example; in week 8 we looked at promotional objectives: To create awareness among lecturers at VU of the new coffee shop at unilodge. Depending on your case your plan might have objectives focusing more on one P than in others. Objectives are numbered and succinct but SMART More of this in pg 443 of your textbook. 9 | P a g e 6. Marketing Mix Strategy (HOW DO WE GET THERE) This includes the 4 Ps and the tactics (activities) you will use to reach your target market. Your strategy must match your marketing objectives, target market, targeting strategy and positioning. Under each section you must disclose the budget associated with the activity. Budget needs to be real so you will need to investigate how much things cost. You MUST reference your work with reliable and valid sources of information. Product Ch. 7 Session 5 You might like to start by a description of your P/S -core, basic and augmented- How does the P/S satisfy your consumers’ needs? What are the P/S quality features, benefits? Can we make money with the P/S? Can we compete with this P/S? Can we patent the P/S? How consumers will differentiate the brand among competitors? Any other description or quality of the product that can attract the potential target market Price Ch.9 Session 6 What sort of pricing strategies would you use to price your P/S value-based or cost- based pricing, other? You must justify your choice of a pricing tactic (strategy). Would you use pricing to encourage acceptance of the P/S? Would you have an introductory price to stimulate trial? Promotion Ch.10 Session 8 What media does your target market use and prefer? How accessible your media can be for your target market? Can media reach your target market before, during & after the buying decision making process? What media is used by competitors? What communication channel would you use to reach your target market, why and how much it will cost you? How are you going to encourage trial, create interest, reinforce, encourage purchase and usage of the P/S? Place Ch 8 Session 7 How does your target market prefer to gain access to your P/S? What channels of distributions and members are suitable for your P/S? Would your P/S be available to your target market at the right time, quantities and with the appropriate support? How much control do you have over the channel of distribution? 10 | P a g e 7. Conclusions In here you should summarise the key elements of your assignment: what was the objective, how did you propose to solve it and highlights of the strategy. 11 | P a g e 8. Recommendations (optional) 12 | P a g e 9. Reference list According to VU Harvard referencing style We will only accept this style of referencing Books Journals, Newspapers and Reports Seminar material Videos and websites Unpublished Materials Electronic Documents (Various Authors) - Internet Addresses 13 | P a g e 10. Appendices 14 | P a g e DECLARATION YOU DON’T HAVE TO ADD THE FOLLOWING INFORMATION TO YOUR REPORT. THE SOLE PURPOSE OF IT IS TO INFORM YOU OF THE AUTHOR OF THE TOOL AND THE SOURCES SHE USED TO MAKE IT. ANY FEEDBACK ABOUT THIS TOOL CAN BE SENT DIRECTLY TO HER ON [email protected] Books Burk, M 2007, Essential guide to marketing planning, FT Prentice Hall - Financial Times, England. BHO1171 Introduction to Marketing textbook: Sharp, B 2013, Marketing Theory evidence Practice, Oxford University Press, Australia & New Zealand Seminar Notes Winchester, M 2016 Weeks 1-12 different topics as specified in the in text information, Victoria University, delivered in 2016.