Marketing Management and Digital Communications
Assessment: Marketing Plan
Task Description
Assessment 2 requires students to work individually on their selected new product or service (from assessment 1) to create a comprehensive strategic marketing plan. This is an individual assessment with a maximum word limit of 2500. Your assessment should be an application of relevant marketing concepts learnt in the unit. There is no need to go into details about explaining marketing concepts, rather it should be an applied discussion. Please upload the assessment through the appropriate Moodle link by week 10 (18th May; 11:55PM AEST).
Each assessment must be uploaded as a .doc or .docx file (word file).
Assessment Criteria
Title page, table of contents, executive summary and introduction (3 marks): - includes a title page, table of contents and executive summary that are professionally written and organized. The executive summary contains the key points of the whole report in 3-5 paragraphs written in single page. Introduction section should provide background information of the product or service chosen in assessment 1. You can summarize the key information from assessment 1 in the introduction section. Specifically, you will be assessed on the following aspects:
a) Executive summary
b) Introduction
c) Situation analysis recap
Discussion of the segmentation, targeting and positioning approach (10 marks): a discussion on the potential customer segments for your product or service and which one(s) you wish to target with good justifications. Also, discuss the desired positioning for the product or service.
Develop a clear positioning statement. Specifically, you will be assessed on the following aspects:
a) Problem statement
b) Discussion of potential market segment
c) Discussion of target market and positioning
Set 3 marketing and 3 financial objectives: provide realistic marketing and financial objectives. Specifically, you will be assessed on the following aspects:
a) Marketing objectives and goals
b) Financial objectives and goals
Formulation of a detailed marketing mix strategy: should cover specifics of the product, price, promotion and place aspects. Specifically, you will be assessed on the following aspects:
a) Marketing mix - how are they to be applied?
b) Marketing strategy proposed implementation
Budget allocation for promotion mix: should provide the media and budget allocation for each of the promotional mix elements and mapped against the objectives of the promotional mix elements. Put special emphasis on digital communications strategies.
Conclusion and reference: includes a summary of the key points of the presentation. Provide a list of at least 15 (fifteen) citations and references of some published academic and research papers, textbooks and authentic Web sources. Referencing should follow the APA style.
Evidence of research: The quality and integration of research in the writeup to support key points. This should include theoretical and empirical research findings from a combination of academic journals and textbooks. Any website which is used to find statistical information is also considered as part of evidence of research but not part of academic journal or textbooks. Useful websites include Australian Bureau of Statistics, Austrade, CIA Factbook, Doing Business and any state or commonwealth authority websites.
Mechanics: Use of headings, sub headings, cohesion of paragraphs were of high quality. Grammar, spelling and punctuation are of exceptional standard.