Developing a Marketing Plan

Assessment Resource Summary

Unit Details

BSBMKG609 Develop a marketing plan

Assessment Type

This is a summative assessment,   this assessment needs adequate practice prior to undertaking this assessment.

Assessment Methods

Project and PPT

Assessment 2

Task 2 – Project Work and Presentation

Submission Details

The assessment task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor.

Submit this document with any required evidence attached. See instructions below for details.

Assessment description

This assessment his divided in four (4) sections. This assessment requires you to devise a marketing strategy, plan marketing tactics, prepare the marketing plan and present and adjust the marketing plan.

Procedure

Section 1: 

Devise a marketing strategy

Write a report that outlines the marketing strategies required for a marketing plan. You may use the case study scenario in Annex VII to complete the tasks.

Also read: Marketing Plan for SPAR

1. Evaluate the options for marketing opportunities.

a. Provide a summary of the organisation’s business structure and products/services it provides.

b. Address the organisational objectives.

c. Evaluate the risks and returns in the selection process.

2. Identify the organisation’s strengths and opportunities in line with its current capabilities and resources.

a. Complete a SWOT analysis.

b. Complete a gap analysis.

c. Identify at least two possible alliances, and weigh up the advantages and disadvantages.

3. Develop feasible marketing strategies for the product/service.

a. Identify the strategies for pricing, placement and promotional channels.

b. Describe a marketing mix, such as the people, processes and physical evidence.

c. Identify the target market segmentation.

d. Recommend marketing strategies and explain how they align with the organisation’s strategic direction.

4. Develop a marketing performance review strategy. The strategy must be able to:

a. Measure the organisation’s marketing performance using marketing metrics such as numbers of clicks, conversion rates and return on investment (ROI).

b. Review organisational performance, such as by using progress reports.

Section 2: 

Plan marketing tactics

More to read: PESTL Analysis Assessment Task

5. Write a report that details a tactical plan for implementing each of the marketing strategies you recommended.

a. Develop a coordination and monitoring mechanism for scheduled activities, such as a work schedule or project management application. This includes:

· Detailing a budget for implementing the marketing strategy

· Identifying the people responsible for tasks, including internal and external stakeholders such as suppliers and specialists.

b. Explain how the strategies are achievable in line with the organisation’s objectives, capabilities and budget.

c. Explain how the tactics meet legal and ethical requirements.

d. Identify ways to review the ongoing performance against the objectives and budget, and adjusted if required. 

Section 3: 

Prepare the marketing plan

6. Develop a marketing plan.

a. Meet organisational and marketing objectives.

b. Incorporate marketing approaches and a strategic marketing mix.

c. Ensure there is a rationale for objectives and information that supports the choice of strategies.

Section 4: 

Present and adjust the marketing plan

7. Present the marketing plan in the required format and time frame using appropriate language and nonverbal techniques. The format could be:

· written report

· slideshow presentation

· spreadsheet

· combination of methods.

8. Make adjustments to the marketing plan in response to feedback from key stakeholders. Feedback may be obtained through:

· evaluation forms

· listening and questioning via face-to-face interviews ● group feedback sessions ● online surveys.

9. Disseminate the plan to key stakeholders for implementation in the required time frame. This may be via:

· email

· team meetings

· project management applications.

Specifications

You must submit:

1. Report on marketing strategies (Task 1 – 4)

2. Tactical plan (Task 5)

3. Marketing plan (Task 6)

4. Marketing scorecard (Task 6)

5. Evidence of marketing plan presentation (Task 7)

6. Feedback from key stakeholders (Task 7)

7. Adjusted marketing plan (Task 8)

8. Evidence of distribution of updated plan to key stakeholders (Task 9)

Annexure 1

Marketing plan evaluation form

Presenter:   ……………………………………………….

Date:   ……………………………………………………...

Participants

⬜ Colleague/peer

⬜ Other (specify)…………………

To what   extent did the marketing plan give clear information in relation to the   following?

Yes

Somewhat

No

Comments

1. The marketing challenge

2. The market research that has   been conducted

3. Customer analysis and   perceptions

4. Competitor analysis

5. Alliances and collaborators

6. Summary of SWOT analysis

7. Market segmentation

8. Alternative marketing   strategies

9. Recommended marketing strategy

10. Description of the four Ps –   product, pricing, positioning and promotion

11. Short- and long-term   projections

12. Rationale for marketing   strategies

13. Evaluation and monitoring   strategies

Additional comments

…………………………………………………………….……………………………………………

……...………….…………………………………………………………….…………………………

……………………..…………….…………………………………………………………….………

…………………………………….…….…

Annexure 2

Marketing budget template

Marketing budget

Title:

Objective   and target outcome:

Customer   segment:

Task

Cost

Approval   signature

Production   budget:

1

2

3

4

5

6

Promotion   budget:

1

2

3

4

5

6

Annexure 3

Marketing scorecard template

Marketing scorecard

Identify the expected outcomes from the marketing strategy.

Marketing objective

description

Activity/go

al

Target time

frame/deadline

Key performance

indicators

Marketing objective 1:

Marketing objective 2:

Marketing objective 3:

Annexure 4

Sample marketing plan outline

This is a sample of the type of information that may be included in a marketing plan. Students may use this document to help them complete Assessment Task B. Marketing plan outline

1. Marketing plan statement

Overview of the marketing plan’s general goals.

2. The challenge

A brief description of the product that is to be marketed and the associated product goals, such as predicted sales forecasts, sales figures and strategic goals.

3. Market research

Company analysis, featuring:

· goals

· focus

· culture

· strengths

· weaknesses

· market share.

4. Customer analysis and perceptions Analysis of the target market, including:

· number

· type

· value drivers

· decision process

· concentration of customer base

5. Competitor analysis Market position, including:

· strengths

· weaknesses

· market share

6. Alliances and collaborators

Outline of subsidiaries, joint ventures, possible distributors, etc. SWOT analysis

A SWOT analysis of the business environment can be undertaken by considering factors such as:

· the company’s internal attributes – these can be classed as strengths and weaknesses

· the external environment will usually present opportunities and threats.

7. Market segmentation

Present a description of the market segmentation that addresses the following:

· description

· sales percentages

· customer wants and needs

· how the customer will use the product

price sensitivity.· how to reach the customers ·· product support requirements 

8. Alternative marketing strategies

The alternatives that will be considered before reaching the recommended strategy. These may include:

· product discontinuance

· product re-branding or re-positioning, e.g. as a premium product.

9. Recommended marketing strategy

Explanation of why a strategy was made redundant or rejected and why a strategy was selected, which will include the marketing mix decisions, and the four Ps (product, price, place and promotion).

10. Product

Any product decisions need to consider the actual product advantages and how they will be used to leverage the product. The product decisions must include:

· the name of the product (brand name)

· quality

· scope of the product line

· product warranty (if applicable)

· product packaging.

11. Pricing

Explanation of the pricing structure or strategy for the product, expected volume and the decisions around pricing variables, including:

· list price

· discounts

· bundling

leasing options.·· payment terms and financing options 

12. Distribution/positioning

Where the product will be placed, such as:

criteria for distributor evaluation·· distribution channels that might include direct, retail, intermediates and distributors 

· distributor margins

· distribution locations

· logistics such as warehousing, transportation and order fulfilment processes.

13. Promotion

Analysis of how much advertising is needed and which media should be used that takes into consideration:

· public relations

· promotional programs

expected results of the promotion.·· promotional budget to ensure break-even point 

14. Short- and long-term projections

Outline of expected short-term and long-term results. This includes an explanation of any specific actions that will need to be undertaken to achieve this, and forecasts of revenues and expenses.

15. Rationale for strategies

Summary of research and analysis that provides a rationale for the strategies chosen.

16. Evaluation and monitoring strategies

Outline of the methods used to evaluate and monitor the chosen marketing strategies once they are implemented.

17. Supporting documents

Supporting documents may include:

· marketing scorecard

· marketing budget

· work schedule

· data and metrics

· performance review strategies.

Annexure 5

SWOT analysis template

Strengths

Weaknesses

Opportunities

Threats

Annexure 6

Work schedule template

Promotion   tactic:

Task   details

Deadline

Cost   allocation

Responsible   owner

1

2

3

4

5

6

Promotion   Tactic:

1

2

3

4

5

6

Promotion   Tactic:

1

2

3

4

5

6

Annexure 7