Assignment:
Devise marketing strategies
This learning checkpoint allows you to review your skills and knowledge in devising marketing strategies.
This learning checkpoint allows you to review your skills and knowledge in developing an organisation development plan.
Part A
1. You work as the marketing manager for a Queensland island tourism resort. The site is 15 years old. Accommodation bookings from domestic and international customer segments have declined in the past six months, yet visitor numbers to the island have increased. What is the stage of the product's life cycle?
2. An alliance between a software manufacturer, a major sports league and a major television network is what type of alliance?
3. Define a ‘feasible' marketing plan.
4. Buzz Electronics is a retail store. It will discount the prices of some brands of televisions next month. Purchasers of those products will be offered instant sign-up to pay television network TV-ME with the first month of a 12-month subscription free. What is this pricing strategy best described as?
5. TV-ME's promotion through Buzz Electronics is one of several promotions TV-ME is running through retailers in Australia in the same month. What marketing metric could TV-ME use to find out how effective the subscription promotion has been with Buzz Electronics?
Part B
Read the case study, then answer the questions that follow.
Case study
Buzz Electronics competes with My-HiFi and Marvin Shorman, among other retailers. Its leading product category is electronic games and the leading item in this category is games consoles. This category brings in just over $2 million in sales revenue per annum. The primary customer segment for the category is males aged 20 to 45 years. The next largest customer segment for the category is females aged 20 to 25 years. The same product category and items (electronic games and games consoles) are sold in competitor stores.
1. What information is needed to identify marketing opportunities for the leading product category at Buzz Electronics?
2. Assuming that gaming is a global growth industry, what opportunities does Buzz Electronics have to build and retain profitable customer relationships? Consider broad-level marketing options and explain the reasons for your answer.
This learning checkpoint allows you to review your skills and knowledge in planning marketing tactics.
Plan marketing tactics
This learning checkpoint allows you to review your skills and knowledge in planning marketing tactics.
Part A
1. The purpose of tactical planning is to improve the execution of which of the four Ps?
2. What is a tactical plan?
3. What kind of monitoring do marketing professionals who coordinate the execution of promotions need to do?
4. Avoiding cost overruns on promotion strategies requires marketing professionals to do what?
Prepare and present a marketing plan
This learning checkpoint allows you to review your skills and knowledge in preparing and presenting a marketing plan.
Part A
1. The section of the marketing plan that explains how the marketing objectives will be achieved is
known as what?
2. The section of the marketing plan that puts a marketing strategy into context with the rest of the business is called what?
3. A marketing plan is usually prepared for a particular time period. What is this?
Part B
Read the two scenarios, choose one of them and then prepare a Word document or PowerPoint presentation outlining either the information you need to obtain (Scenario 1) or the research that you need to do (Scenario 2) in order to prepare a marketing plan. Your document must explain at least six different types of information that will be needed.
Scenario 1
Matrix Pharmacy is a retail store in a medium-sized shopping centre. It sells a number of product categories including infant products, beauty products, feminine hygiene products, nutritional products (vitamins), over-the-counter medicines and prescription-only pharmaceuticals. To date, the owner of the pharmacy, Mike Matrix, has not used a marketing plan. His store is adjacent to a medical clinic on the top floor of the centre, so many of his customers are patients from the clinic who buy prescriptions and other products. The retail prices for all his products are the recommended retail prices listed in the suppliers' product catalogues. Another pharmacy has just opened in the shopping centre. Mike needs to be more strategic about his business, so he hires you to review his business, and develop a marketing strategy.
1. What information do you need to obtain from Mike and/or other sources in order to do this?
Scenario 2
You have arranged to meet with a new client, Mr Regus, to discuss the information you need to obtain in order to prepare a marketing plan. Mr Regus is happy to meet with you, but he is frustrated that you have not already written the marketing plan.
2. How do you communicate with someone who does not understand the strategic marketing process and the amount of work that needs to be done to prepare an effective marketing plan?