Recent Question/Assignment

A SSESSMENT 2 BRIEF
Subject Code and Title MKTG6002/MKT600 Marketing
Assessment 2 Marketing Plan
Individual/Group Individual
Length 3000 words (+/- 10% excluding cover page, reference etc).
Learning Outcomes This assessment addresses the following subject learning outcomes:
a) Critically evaluate underpinning marketing theories and principles and appropriate research process to collect, store and use of data to generate customer insights;
b) Critically evaluate customer needs to create value for customers by deploying the resources of the organisation in best possible ways;
c) Critically evaluate the impact of an organisation’s marketingmix strategies on its stakeholders.
Submission
For 12 weeks deliver – due on Sunday at 11:55 pm (AEST/AEDT) by the end of week 10.
For 6 weeks (intensive) delivery – due on Sunday at 11: 55 pm (AEST/AEDT) by the end of the week 5.
Weighting 50%
Total Marks 50 marks
Objectives:
• To enhance a clear understanding of the importance of marketing in modern business 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.
How the assessment fits into the subject/course:
Marketing in the 21st century has evolved profoundly where developing winning marketing strategies has been integral to businesses of all types 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. Students are required to develop a complete marketing plan for the Business Case given on the Blackboard. The emphasis within this assessment should be placed on expanding various steps as recommended in the marketing plan template while the current marketing situation and threats and opportunities analysis to be briefly discussed by summarising the discussion from the assessment 1.
MKT600/ MKTG6002 _Assessment2_Marketing Plan Page 1 of 7
Linkages between Assessments 1 and 2:
This assessment builds on the assessment 1 therefore you will be working on the same Business Case given on the Blackboard for Assessment 1. In assessment 1 you have addressed two (i.e., current marketing situation and threats and opportunity analysis) out of the eight steps of a marketing plan. In this assessment you are required to develop a complete marketing plan for the Business case given on Blackboard.
Instructions:
This assessment task builds on the Situation Analysis that you undertook in Assessment 1. This assessment task requires you to expand the remaining steps of the marketing plan to:
• Articulate your learning about marketing theories, concepts and principles covered in the course to demonstrate your level of understanding of them to develop a marketing plan;
• Articulate the link between marketing theories and practices;
• Demonstrate an acceptable level of research skills to reveal the insights;
• Apply appropriate business report writing skills;
• Demonstrate a logical flow and cohesiveness in the analysis and discussion.
• Use the appropriate in text citation and a reference list in the end of your written work. You should provide at least 15 high quality marketing references to show quality of research. STRICTLY adhere to the APA style in referencing. Please see more information on referencing here: https://library.torrens.edu.au/academicskills/apa/tool
Scenario:
This assessment requires you to act like a consultant to help an organisation develop a winning
marketing strategy that intends to introduce a new product or expand its business/markets.
Tasks:
This assessment builds on the previous assessment, Situation Analysis of your chosen organisation that you undertook in the assessment one. Therefore, you need to revisit your assessment 1 and the feedback from your facilitator. Address the concerns, if there is any, indicated for your attention while summarising the discussion from the assessment 1 for the current market situation and the opportunities and threats sections for your marketing plan (i.e., assessment 2). Then, develop a complete marketing plan for this assessment:
1. Develop a marketing plan – The aspects that you should include are:
a. Identify objectives and issues as well as marketing logic to create customer value;
b. Segmentation, targeting and positioning as well as marketing mix strategies (i.e., 4ps/7ps);
c. Action programmes - how marketing strategies will be turned into specific actions that answer What will be done? When will be done? Who will do it? and How much will it cost (budget)? and controls.
MKT600/MKTG6002_Assessment2_Marketing Plan Page 2 of 7
To start with this assessment -
2. Outline the following steps:
a. Clearly define the value proposition of your chosen organisation, product, or the brand;
b. Critically evaluate the overall situation of the organisation (should be summarised from the assessment 1) and suggest 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 accompanied with a product and discuss product line and mix strategies;
d. Pricing – describe the pricing strategy (cost-based, value-based and competition) that you would recommend to the senior management of the organisation and justify your choice;
e. Distribution – outline the distribution strategies, you should discuss a specific distribution strategy (s) - intensive, selective, and exclusive. You also need to discuss channel strategies
(i.e., direct and/or indirect, channel levels - single vs. multiple);
f. Promotion – critically evaluate the promotion strategies you would recommend (i.e., pull vs.
push). You also need to discuss promotional mix strategies (i.e., advertising, salesmanship, sale promotion, publicity, and public relations) as well as media strategies.
Please beware that your marketing strategies should be aligned with the key issues and objectives and/or value proposition, the organisations mission, and vision.
g. Action programmes – explain how marketing strategies will be turned into specific action programmes.
h. Budget – provide a supporting marketing budget which is essentially a projected profit and loss statement.
i. Control – outline the controls that will be used to monitor the progress. Submission Instructions:
Submit your assignment via the Assessment two link in the main navigation menu in the Blackboard in MKT600/MKTG6002. Your Learning Facilitator will announce the specific due day, date, and time for the submission. Please review the TUA overdue policy described in page 5, that applies a 10% deduction/day up to five days and then 0, through the link copied below:
https://laureateaus.sharepoint.com/sites/MyTorrens/Shared%20Documents/Forms/Policies_Filter.asp x?id=%2Fsites%2FMyTorrens%2FShared%20Documents%2FPolicies%2Fassessment%20policy%20for% 20he%20coursework%20and%20elicos%5Fpl%5Ftua%5Fac%2Epdf&parent=%2Fsites%2FMyTorrens%2 FShared%20Documents%2FPolicies&p=true&originalPath=aHR0cHM6Ly9sYXVyZWF0ZWF1cy5zaGFyZX BvaW50LmNvbS86Yjovcy9NeVRvcnJlbnMvRWFLY2xTM28tUHBOa25uX2ZQV2Z6c2NCRzJFSVI0OXJ0amx jYlF5bGZDYjl0dz9ydGltZT1pWEF5NDdrLTJVZw
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Learning Rubric: Assessment 2
Assessment
Attributes Fail (Unacceptable) Pass
(Functional)
50-64% Credit
(Proficient) 65-74% Distinction
(Advanced)
75 -84% High Distinction
(Exceptional)
85-100%
0-49%
Evaluation of information gathered to support the
marketing plan
10%
Limited understanding of key concepts required to
support discussion
Confuses logic and emotion. Information taken from reliable sources but without a comprehensive analysis or synthesis.
Viewpoints of experts are taken as fact with little questioning.
Resembles a recall or summary of key ideas.
Often conflates/confuses assertion of personal opinion with information substantiated by evidence from the research/course materials.
Analysis and evaluation do not reflect expert
judgement, intellectual independence, rigor and adaptability.
Supports personal opinion and information substantiated by evidence from the research/course materials.
Information is taken from 15+ with a demonstrable capacity to explain and apply relevant concepts.
Demonstrate logical flows throughout the discussion.
Differentiates between assertion of personal opinion and information substantiated by robust evidence from the
Research/course materials sources and extended reading.
Information is taken from 20+ sources with a well- demonstrated capacity to explain and apply relevant concepts.
Viewpoint of experts are subject to questioning. Analysis and evaluation reflect growing judgement, intellectual independence, rigor and adaptability. Systematically and critically
discriminates between
assertion of personal
opinion and information
substantiated by robust evidence from the research/course materials
and extended reading.
Information is taken from 30+ sources with a high level of interpretation/evaluation
to develop a
comprehensive critical analysis or synthesis.
Identifies gaps in knowledge.
Exhibits intellectual independence, rigor, good judgement and adaptability.
Report structure/format
Report structure/format
Report structure/format was
Report structure/format
Report structure/format
Logical and Compelling was not consistent with was professional and professional, original and was very professional, was highly professional,
Report Structure Industry original and was adequately consistent with Industry original and consistent with original and consistent with
practices/standards consistent with Industry practices/standards Industry Industry
20%
Marketing Strategy Report components were not adequately identified.
The report was poorly organised.
Developed ideas/recommendations with poor examples, data, and/or experiences.
Poorly Constructed Reference list and/or not meeting the APA guidelines
for referencing
practices/standards
Some Marketing Strategy Report components were identified.
The report was sufficiently well organised.
Developed ideas/recommendations with adequate examples, data, and/or experiences.
Reference List provided and
a variety of sources accessed in research meeting APA guidelines for referencing.
Marketing Strategy Report components were adequately identified.
The report was well organised from beginning to end.
Developed specific ideas/recommendations with good supporting examples, data, and/or experiences.
A correctly constructed Reference List provided and
a variety of sources accessed in research meeting APA guidelines for referencing.
practices/standards
All Marketing Strategy Report components were correctly identified.
The report was very well organised and orderly from beginning to end.
Developed specific ideas/recommendations in depth with appropriate supporting examples, data, and/or experiences.
A correctly constructed Reference List provided and
in-report citations of sources provided and a variety of sources accessed in research meeting APA guidelines for referencing.
practices/standards. All
Marketing Strategy
Report components were clearly and correctly identified.
The report was expertly organised and orderly from beginning to end.
Developed specific ideas/recommendations in depth with strong and appropriate supporting examples, data, and /or experiences.
A well-constructed Reference List provided and in-report Citations of sources provided and a wide variety of sources accessed in research meeting APA guidelines for referencing.
Critically evaluates client needs with regards to the market Superficially evaluates and justifies the selection Fairly evaluates and justifies the selection of target market Adequately evaluates and justifies the selection of target Thoroughly evaluates and justifies the selection of target Critically evaluates and justifies the selection of target market
segmentation,
Targeting and
positioning strategies
20%
of target market
demonstrating no understanding of the theories from the subject.
Description of market segments not provided.
No efforts to substantiate the target market.
Value proposition is vague.
Little or no justification of the positioning strategy reflecting little or no link to the entire analysis.
The strategy for competitive advantage doesn’t make sense.
demonstrating a
satisfactory understanding of the theories from the subject.
Description of at least one market segments provided.
Very little efforts to substantiate the target market.
A satisfactory value proposition provided.
Satisfactory justification of the positioning strategy reflecting the links to the entire analysis.
The strategy for competitive advantage is satisfactory.
market demonstrating a good understanding of the theories from the subject.
Description of at least two market segments provided.
Some efforts to substantiate the target market.
A good value propositions
differentiating the business from the competitors.
A good justification of the positioning strategy reflecting the links to the entire analysis.
The strategy for competitive advantage is sensible.
market demonstrating a very good
understanding of the theories from the subject.
Description of at least three market segments provided.
Target market has been substantiate.
A well-stated value proposition differentiating the business from the competitors.
A very good justification of the positioning strategy reflecting the links to the entire analysis.
The strategy for competitive advantage is sensible.
demonstrating
excellent
understanding of the theories from the subject.
Description of three or more market segments provided.
Target market has been substantiated comprehensively.
A sophisticated value proposition differentiating the business from the competitors.
Comprehensive
justification of the positioning strategy reflecting the links to the entire analysis.
The strategy for competitive advantage is sensible and well argued.
Critically evaluates the impact of the application of marketing mix (the 4Ps/7ps of marketing) to stakeholders
30% Limited synthesis and analysis.
Strategy ideas presented fail to have a foundation in the market analysis.
Marketing mix Demonstrated analysis and synthesis of new with existing knowledge in evaluating the application of marketing mix to the target market.
Presents strategy ideas Adequately evaluates and justifies the selection of target market demonstrating a good understanding of the theories from the of marketing mix to the target market. Thoroughly developed and creative analysis of new with existing knowledge and synthesis in evaluating the application of marketing mix to the target market.
Highly sophisticated and creative analysis of new with existing knowledge in evaluating the application of marketing
mix to the target market.
Presents and
variables have not been outlined clearly. that have a foundation in the market analysis.
Marketing mix variables have been outlined. However, they do not reflect the link to the core strategies. Presents interesting strategy ideas that have a good foundation in the market analysis.
Marketing mix variables have been outlined. However, they reflect unclear connection to the core strategies. Presents and succinctly discusses sensible & interesting strategy ideas that have a very good foundation in the market analysis.
Marketing mix variables reflect core marketing strategies to form one intact strategy.
succinctly discusses concise, sensible & interesting strategy ideas that have a solid foundation in the market analysis.
Marketing mix variables reflect core marketing strategies to form one intact strategy.
Formulates effective and innovative
recommendations that are justifiable
20 % Demonstrates limited awareness of context and/or purpose of the assignment and/or the specific client’s need.
Fails to provide recommendations that are reasonable and/or applicable to the organisation. Demonstrates adequate awareness of context and/or purpose of the assignment and/or the specific client’s need.
Provides standard, straightforward or obvious recommendations only. Demonstrates consistent awareness of context and/or purpose of the assignment and/or the specific client’s need.
Provides good recommendations that
reflect skilful analysis and some original thinking. Demonstrates an advanced and integrated understanding of context and/or purpose of the assignment and/or the specific client’s need.
Provides advanced recommendations
that reflect well developed analysis and original thinking. Consistently demonstrates a systematic and critical understanding of context and purpose of the assignment and/or the specific client’s need.
Provides expert recommendations that reflect sophisticated analysis, original thinking and creativity.