Marketing Plan for The Bank of Cancer Research
You are required to undertake this assessment individually.
Aim: The objective of this assignment is:
- To enable you to understand marketing strategy and the elements of marketing analysis: customer analysis, company analysis and competitor analysis.
- To assist you with evaluating the elements of the marketing mix (product, pricing, promotion, and distribution strategies)
- To enhance your problem solving techniques and decision making skills by learning how to leverage strategic marketing analysis
- To inform tactical marketing mix decisions while allowing you to consider a comprehensive framework to evaluate marketing decisions and to create successful planning initiatives.
- To expand your knowledge in the area of marketing strategy while increasing your awareness of the different strategic and tactical alternatives that are available
- To be able to identify and act on sustainable, social and ethical concepts required in planning.
A major and very important requirement is that you strongly link marketing theories and concepts to the issues identified in the organisation. Theory provides the framework from which to look at and understand the assignment question and to provide a perspective for examining the research data. The text and lectures provides the basic theory about marketing and the terms used such as an explanation of the marketing environment.
Students should aim to start thinking about the marketing theory they have been learning about and to begin using that marketing perspective to better understand specific Consumer Products and organisations that are operating in the marketplace.
Rationale: Students will gain knowledge about marketing and also see that there is a wide range of information available from a range of sources that can be used by organisations for analysis. In writing the report students will demonstrate an understanding of the concepts behind strategic planning and the need to be coherent, concise, clear, well argued, and well-presented.
Background
You are required to undertake this assessment individually. The assessment will focus on the critical analysis of the concept for the Bank of Cancer Research.
Each student will conduct an analysis of the marketing program for this new consumer product and the effectiveness of its launch and commercialization. This will be done in the context of the competitive environment for banking services in general and not-for-profit, caused-based financial services in general.
Based upon available information and your research you will need to undertake a review of the proposed concept for the Bank of Cancer Research and prepare a critique from a new-product launch perspective. This should take into consideration the broader environment for the provision of banking / financial services and will be presented as a marketing plan together with recommendations for each key element of the marketing program.
You will need to evidence a review of at least three organisations (Australian and international) that you consider to offer a closely comparable value-proposition and from which you believe illustrations of 'good-practice' can be drawn.
Supporting information and your research & enquiry
The Bank of Cancer Research is a 'real-life' project. The work you undertake will be shared with the organization upon completion and could play an important in helping to support the launch of this important concept.
It is expected that you will undertake both primary and secondary research during the conduct of your review.
Some secondary data will be provided to assist you. Initially, a briefing on the proposed Bank of Cancer Research will be given during Session 2 by Mr. Aaron March who is the Melbourne-based Founder. All students are required to attend this briefing which will be held in-class. A further opportunity to consult with Mr. March will be offered at a later point in the semester at a time to be negotiated.
Strategic Priorities for The Bank of Cancer Research:
The Bank has indicated the following as key strategic priorities:
1. Meet with the signatories to the Giving Pledge
We aim to meet with the signatories to the Giving Pledge, who are our identified potential investors, to explain the theory behind the bank which includes the concepts of a Purpose Entity and Profit Differentiation. The signatories to the Giving Pledge have both the philanthropic mindset and the financial capacity to purchase an established bank and instantly make BCR a reality.
2. Raise public support for BCR
To achieve the first goal we created the second goal which is to raise public support for the concept. Building public support for the concept provides two desired outcomes:
1. Increasing public support will allow us to attract the attention of the signatories to the Giving Pledge and with the potential to lead to an opportunity to meet with them
2. Public support will also help prove that there is a market for BCR which will make any investment decision by the Giving Pledge easier.
This assignment has been designed to support priority 2 above.
Developing the Assignment
You will be working progressively on the development of this assignment throughout the semester. The 'signposts' for this are outlined under Assessment 2 of this e-book. The 'memo's that you develop on a bi-weekly basis will help you to stay on track with your assignment and receive regular feedback from peers and from your instructor in-class. The content of your memo's in assessment 2 will be drawn together and synthesized within this assignment.
You will be briefed further on the assessment during the class sessions which will also be used to explore key marketing concepts as they apply to this assignment.
Report Structure -
Your report must address the key elements of a marketing plan/plan. These will be identified and discussed in-class with your instructor. Further details can be found in your prescribed text for this subject and via the library.
Best Student Report Competition and Employability
1. The Bank of Cancer Research will be invited to review all final assignments and the top-three will be provided with a Letter of Attestation, acknowledging the contribution of the winning LTU students to the project. This commendation will be a valuable addition to students resume and employability.
2. Students completing this assignment may have the opportunity to gain further experience by participating in the Work Based Project subject (BUS5WIL) which is expected to be launched in Semester 2, 2017. This for-credit work experience subject will enable successful applicants to negotiate and focus on developing a particular aspect of the BCR project as a further element of their academic program.
The assessment will focus on the critical analysis of La Trobe University's newly launched Master of Management online. Each student will conduct an analysis of the marketing program for this new consumer product and the effectiveness of its launch and commercialisation.
This will be done in the context of the competitive environment for online higher education programs and the strategic aims of the university. You will need to identify at least FOUR close competitors and undertake your review from the perspectiveof the program's competitive positioning. Your review should address all key elements of a marketing plan as it applies to a new product.
It is expected that you will undertake both primary and secondary research during the conduct of your review.
Attachment:- Assignment File.rar