MKTG6002/MKT600: Marketing Plan Assessment 2

{`
        Subject Code and Title
        Assessment Assessment 2: Marketing Plan
        Individual/Group Individual
        Laureate International Universities
        `}

Learning Outcomes

This assessment addresses the following subject learning outcomes:

Critically evaluate underpinning marketing theories and principles and appropriate research process to collect, store and use of data to generate customer insights;
Critically evaluate customer needs to create value for customers by deploying the resources of the organisation in best possible ways;
Critically evaluate the impact of an organisation’s marketing mix strategies on its stakeholders.

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 in order 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 their chosen organisation's product or the brand which they worked in the Assessment 1. 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.

MKTG6002/MKT600_Assessment2_Marketing Plan Page 1 of 7 Linkages between Assessments 1 and 2:

This assessment is the continuation of the assessment 1 therefore you should continue to work on the same organisation. 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 an organisation's product or a brand of their choice. Since the assessment 1 and 2 are interrelated so students in any situation are not advised to change their organisation that they chose in the assessment 1.

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 nd a reference list in 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/learn-more/referencing

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 is the continuation of your previous assessment of the 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. Then, develop a complete marketing plan for this assessment to:

Develop a marketing plan – The aspects that you should include are:
1. Identify objectives and issues as well as marketing logic to create customer value;
2. Segmentation, targeting and positioning as well as marketing mix strategies (i.e., 4ps/7ps);
3. 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.

MKTG6002/MKT600_Assessment2_Marketing Plan Page 2 of 7

To start with this assessment -

Outline the following steps:
1. Define clearly the value proposition of your chosen organisation, product or the brand;
2. Critically evaluate the overall situation of the organisation (should be summarised from the assessment 1) and suggest appropriate marketing mix strategies:
3. Product - define the product attributes/features to reflect your value propositions

You are advised to review the threes levels that are accompained with a product and discuss product line and mix strategies;

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;
Distribution – outline the distribution strategies, you should discuss a specific distribution strategy (s) - intesive, selective and exclusive. You also need to discuss

channel strategies (i.e., direct and/or indirect, channel levels - single vs. multiple);

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 organisation's mission and vision. Submission Instructions:

Submit Your Coursework via the Assessment two link in the main navigation menu in the Blackboard in MKT600/MKTG6002 by the end of the Module 5 on Friday in week 10. Please review the TUA overdue policy described in page 3, that applies a 10% deduction/day up to five days and then 0, through the link copied below:

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MKTG6002/MKT600_Assessment2_Marketing Plan Page 3 of 7

Learning Rubric: Assessment 2

Assessment Attributes	Fail (Unacceptable) 0-49%	Pass	Credit	Distinction	High Distinction
		(Functional) 50-64%	(Proficient)	(Advanced) 75 -84%	(Exceptional)
		(Functional) 50-64%	65-74%	(Advanced) 75 -84%	85-100%
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 demonstratablecapacity to explain and apply relevant concepts. Demonstrate logical flows throughout the discussion.		Differentiaates 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.
Logical and Compelling Report Structure 20%	Report structure/format was not consistent with Industry practices/standards	Report structure/format was professional and original and was adequately consistent with Industry practices/standards	Report structure/format was professional, original and consistent with Industry practices/standards		Report structure/format was very professional, original and consistent with Industry practices/standards	Report structure/format was highly professional, original and consistent with Industry practices/standards.
20%	theories from the	theories from the	subject.	theories from the	theories from the
subject.	subject.	Description of at least	subject.	subject.
Description of market	Description of at least	two market segments	Description of at least	Description of three or
segments not	one market segments	provided.	three market segments	more market segments
provided.	provided.	Some efforts to	provided.	provided.
No efforts to	Very little efforts to	substantiate the target	Target market has	Target market has been
substantiate the	substantiate the target	market.	been substantiate.	substantiated
target market.	market.	comprehensively.
A good value proposition	A well-stated value
Value proposition is	A satisfactory value	differentiating the	proposition	A sophisticated value
vague.	proposition provided.	business from the	differentiating the	proposition
competitors.	business from the	differentiating the
Little or no	A satisfactory	competitors.	business from the
justification of the	justification of the	A good justification of	competitors.
positioning strategy	positioning strategy	the positioning strategy	A very good
reflecting little or no	reflecting the links to	reflecting the links to the	justification of the	Comprehensive
link to the entire	the entire analysis.	entire analysis.	positioning strategy	justification of the
analysis.	reflecting the links to	positioning strategy
The strategy for	The strategy for	the entire analysis.	reflecting the links to
The strategy for	competitive advantage	competitive advantage is	the entire analysis.
competitive advantage	is satisfactory.	sensible.	The strategy for
doesn’t make sense.	competitive advantage	The strategy for
is sensible.	competitive advantage is sensible and well argued.
Limited synthesis and	Demonstrated analysis	Well-developed analysis	Thoroughly developed and	Highly sophisticated and
Critically evaluates	analysis.	and synthesis of new	and synthesis of new with	creative analysis of new	creative analysis of new
the impact of the	with existing	existing knowledge in	with existing knowledge	with existing knowledge
application of	Strategy ideas	knowledge in	evaluating the application	and synthesis in	in evaluating the
marketing mix (the 4Ps/7ps of marketing) to	presented fail to have a foundation in	evaluating the application of	of marketing mix to the target market.	evaluating the application of marketing	application of marketing mix to the target market.
stakeholders	the market analysis.	marketing mix to the	mix to the target market.
30%	target market.	Presents interesting strategy ideas that have	Presents and succinctly	Presents and succinctly discusses
Presents strategy ideas	a good foundation in the	discusses sensible &	concise, sensible &
Marketing mix	that have a foundation	market analysis.	interesting strategy	interesting strategy
variables have not	in the market analysis.	ideas that have a very	ideas that have a solid
been outlined	good foundation in the	foundation in the
clearly.	market analysis.	market analysis.
Marketing mix	Marketing mix variables
variables have been	have been outlined.	Marketing mix
outlined. However,	However, they reflect	Marketing mix	variables reflect core
they do not reflect the	unclear connection to	variables reflect core	marketing strategies
link to the core	the core strategies.	marketing strategies to	to form one intact
strategies.	form one intact strategy.	strategy.
Demonstrates limited	Demonstrates adequate	Demonstrates consistent	Demonstrates an	Consistently
Formulates effective	awareness of context	awareness of context	awareness of context	advanced and integrated	demonstrates a
and innovative	and/or purpose of the	and/or purpose of the	and/or purpose of the	understanding of context	systematic and critical
recommendations	assignment and/or the	assignment and/or the	assignment and/or the	and/or purpose of the	understanding of context
that are justifiable	specific client’s need.	specific client’s need.	specific client’s need.	assignment and/or the	and purpose of the
specific client’s need.	assignment and/or the
20 %	Fails to provide	Provides standard,	Provides good	specific client’s need.
recommendations that	straightforward or	recommendations that	Provides advanced
are reasonable and/or	obvious	reflect skilful analysis and	recommendations	Provides expert
applicable to the	recommendations only.	some original thinking.	that reflect well	recommendations that
organisation.	developed analysis	reflect sophisticated
and original thinking.	analysis, original thinking and creativity.

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MKTG6002/MKT600: Marketing Plan Assessment 2

Learning Rubric: Assessment 2

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