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Marketing Plan - Identify and evaluate key theories and principles of practical marketing strategies

Anticipated Learning Outcomes

This assessment addresses the following subject learning outcomes:

Objectives

To enhance a clear understanding of the importance of marketing in modern business and to provide a grasp of effective contemporary marketing practices;

•    To develop a succinct understanding about marketing theories and their

application in devising marketing strategies;

•    To critically analyse all relevant factors affecting the exchange process;

•    To enable developing insightful marketing strategies for a business.

Marketing in the 21st Century has profoundly evolved where designing a winning marketing plan has been integral to business organisations in order to achieve its strategic objectives. This assessment provides students with the opportunity to apply the knowledge and insights developed in the marketing subject to develop effective marketing strategies for a business, a product or a brand.

You are required to develop a complete marketing plan for their chosen organisation, product or the brand which they worked within the assessment one. The emphasis within this assessment should be placed on expanding various sections as recommended in the marketing plan template while the current marketing situation and threats and opportunities analysis to be briefly discussed drawing from the assessment one

Linkages between Assessments 1 and 2:

This assessment is the continuation of the assessment one. In assessment one students addressed two (i.e. current marketing situation and threats and opportunity analysis) out of the eight steps of a marketing plan. In this assessment students are required to develop a complete marketing plan for an organisation, a product or a brand of their choice. Since the assessment one and two are interrelated so students in any situation are not advised to change their organisation, product or the brand that they chose in the assessment one.

Instructions:

This assessment task builds on the Situation Analysis that you performed in Assessment 1. This assessment task requires you to expand the remaining steps of the marketing plan to:

•     Demonstrate your learning about marketing concepts and principles covered so far and allow you to demonstrate your level of understanding of them;

•    Analyse the link between marketing  theories and practices;

•    Demonstrate an acceptable level of research skills to reveal the insights;

•    Apply appropriate business report writing skills;

•    Use the appropriate citation of references and a reference list in your written work. It is essential that you STRICTLY adhere to the APA style for all the in text citation and full referencing.

•    Demonstrate a logical flow and cohesiveness in the analysis and discussion.

Scenario:

This assessment requires you to act like a consultant to help an organisation develop a winning marketing plan that wants to expand its business or markets.

Tasks:

This part of the assessment is a follow-up to the Situation Analysis that you provided in assessment one. Therefore, you need to revisit assessment one and the feedback from your facilitator. Then, develop a complete marketing plan for this assessment to:

1.    Develop a marketing plan – The aspects that you should include are:

a.    Identify objectives and issues; devlop marketing strategies; action programmes;

b.    Budget and controls. You are also expected to suggest a clearly defined positioning strategy in the target market drawing from the value proposition.

To start this task.

2.   Outline the following  marketing mix variables:

a.     Define clearly the value proposition of your chosen business, product or the brand;

b.    Critically evaluate the business's situation and develop appropriate marketing mix strategies;

c.    Product - define the product attributes/features to reflect your value propositions.

You are advised to review the threes levels that are accompained with a product.

d.    Pricing – describe the pricing strategy that you would recommend to the organisation

and justify your choice.

e.    Distribution – outline the distribution strategies you would recommend. For example, where would you locate outlets? Would you own retail outlets or offer franchise options?

f.    Promotion – outline the promotion strategies you would recommend (e.g.

most relevant advertising strategies)

Marketing Plan - Identify and evaluate key theories and principles of practical marketing strategies

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