This assessment addresses the following subject learning outcomes:
a) Identify and evaluate key theories and principles of practical marketing strategies
b) Critically evaluate client needs with regard to the creation of value for the organisation
c) Critically evaluate the impact of the application of the marketing mix to the target market
Objectives:
• To enhance a clear understanding of the importance of marketing in modern
business and to and provide a grasp of effective contemporary marketing practices;
• To provide a theoretical overview of marketing theory and practical application
of innovative marketing strategies;
• To critically analyse all relevant factors affecting the exchange process;
• To establish an insightful marketing strategy.
How the assessment fits into the subject/course:
Marketing in the 21st Century has drastically evolved and is a critical component
of business administration. The design of marketing plans is integral to business
organisation and the assessment for this subject aims to provide students with
the opportunity to apply the knowledge of developing effective marketing
strategies. This assessment requires the students to analyse market trends
before developing a marketing strategy. There is a short scenario for students to
address the assessment tasks.
Instructions:
This assessment task builds on the Marketing Environmental Analysis you performed in Assessment 1. This assessment task requires you to devise a Marketing Strategy Report to:
• Demonstrate your learning about marketing concepts and principles covered so far and allow you to demonstrate your level of understanding of them.
• Analyse the link between marketing practice and marketing theory
• Demonstrate research skills to reveal the insights
• Apply appropriate business report writing skills
• Use the appropriate citation of references and a reference list in your written work. It is essential that you use the appropriate APA style for citing and referencing research. Please see more information on referencing here: http://library.laureate.net.au/research_skills/referencing
• Practice aligning strategies to your market analysis
Scenario:
Donald B is a chocolate product maker and owns two stores in Melbourne. He wants to grow his brand nationally and internationally and compete with larger rivals producing cocoa product, confectionery, crystallised or glazed fruit, drinking chocolate, liquorice, marshmallow, candied nut, candied popcorn, etc. He has also considered selling through Coles and Woolworths, Aldi options or creating high-end specialty stores.
Tasks:
This part of the assessment is a follow-up to the Marketing Environmental Analysis you provided for Donald’s business in assessment 1. Therefore, you need to revisit assessment 1 and the feedback from your facilitator. Then, devise a marketing strategy report for this assessment to:
1. Create a marketing strategy – The aspects of marketing strategy that you should include are:
a. Your recommended target market (including market segmentation).
b. How the new business should be positioned – give an overview of positioning theory (and other relevant theories) and then explain one or more positioning approaches that you think this business should follow. Draw a positioning map to start this task.
2. Outline the following marketing mix variables:
a. Ideas for the products and services that could be offered and how they can be offered.
b. Explain the different levels of product and how you think Donald should apply them.
c. Pricing – Describe the pricing strategy that you recommend and justify your choice.
d. Distribution – Outline the distribution strategies you would recommend. For example, where would you locate outlets? Would you own retail outlets or offer franchise options?
e. Promotion – Outline the promotion strategies you would recommend ( most relevant advertising strategies)
f. Extended marketing mix – Outline the other 3 marketing mix elements (if found relevant)