A start-up company has decided to launch a product (see below) and have asked you to advice on this proposed launch by developing a one-year marketing plan which should include a detailed launch marketing communications plan. In particular you should consider: - The marketing environment - The objectives - The STP strategy - The promotional launch.You should therefore prepare the marketing plan which covers the following topics: Section 1: The marketing environment audit You should: - Explain the role of the marketing environment audit - Advise on undertaking the full audit for the macro (external) environment by explaining the topics that should be researched by the company and why these subjects are important - Identify 3 (three) key contemporary trends or changes in the external environment and show how they will impact the company - Undertake an audit of the competition (using Porter's Five Forces analysis) - Highlight the major opportunities and threats facing the company Module Guide Section 2: The marketing plan As a minimum, you should include: - 3-4 clear, SMART objectives for duration of the marketing plan - Make justified recommendations for the segmentation, targeting and positioning (STP) strategy, including a positioning map - Plan a particularly detailed and justified marketing promotional strategy for the launch should be provided, including key messages and creative concepts aligned to the target market(s) as well as a range of digital marketing communications activities. In the report it is important that, throughout the report, you include: • An explanation of and use of marketing theory including processes, marketing models and techniques (and their limitations) • An application of marketing principles to the chosen company • Reference to reading • Report style of presentation Explain the role of the marketing environment audit - Advise on undertaking the full audit for the macro (external) environment by explaining the topics that should be researched by the company and why these subjects are important - Identify 3 (three) key contemporary trends or changes in the external environment and show how they will impact the company - Undertake an audit of the competition (using Porter's Five Forces analysis) - Highlight the major opportunities and weaknesses facing the company - Clear definitions and explanations of associated marketing terms and techniques 2. Marketing Objectives - Set SMART objectives - Clear link to the a series of evaluation appropriate measurements (metrics). STP Strategy - A clear segmentation, targeting and positioning (STP) strategy, including a positioning map - Justified recommendations - Clear definitions and explanations of associated marketing terms and techniques. Justified recommendations for the launch using a range of marketing communications activities - Both traditional and digital methods should be employed - A framework should as DRIP should be utilised - Clear definitions and explanations of associated marketing terms and techniques. Theoretical Underpinnings Use of theories, relevant empirical evidence, academic models and/or theoretical frameworks. Presentation Utilises report style while appropriately structured to link the various sections of the report. Written in professional/academic language following Harvard protocols. A clear strategy for the segmentation, targeting and positioning strategy - An operational marketing plan. You should therefore prepare the marketing plan which should be divided into 2 sections: - 1: Guidelines regarding the analysis of the marketing environment - 2: A strategic and tactical marketing plan Guidelines for undertaking the proposal – Section 1: The analysis of the marketing environment This first section you answer the question "where are we?" by undertaking a marketing environment audit. This part of the report should include an explanation of the role of the analysis and give guidelines regarding how the attraction should audit: - the macro (external) environment - the micro (internal) environment - the competition (using Porter's Five Forces analysis). Indicative word count 1500 words - Section 2: The Marketing Plan The marketing plan should answer the remaining three questions: - Where do we want to be? - How will we get there? - How well did we do? Where do we want to be? - You should advise on clear, SMART objectives for the new attraction How will we get there? There should be two sections: 1. The first section is the strategy and you should (as a minimum) make justified recommendations for the STP strategy so that you have a clear target market which will be receptive to the proposed attraction.  You might also include Porter's generic strategy to show the direction of the attraction.  You should incorporate academic models into your report and evaluate their effectiveness 2. The second section should explain your advice relating to the tactical marketing plan and how it could be developed in line with the chosen target market.  You should discuss each of the 7Ps (with the exception of processes) and make justified recommendations.  Academic theory should again be included wherever possible and evaluated. How well did we do? - In the final section, you should explain the role of evaluation as well as discussing the control and evaluation techniques and matrices you plan to use, again giving reasons for your choices. Indicative word count 2500 words / Learning Outcome 2+4 In the report it is important that you include: • An explanation of and use of marketing theory including processes, marketing models and techniques • An application of marketing principles to the chosen company • Reference to reading • Report presentation It is recommended that you prepare and submit your (re)assignment in line with the assessment submission guidance given above (online via Turnitin Grademark).