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MKTG6002/MKT600 Marketing Plan Assessment 2 Answer

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:

  1. Critically evaluate underpinning marketing theories and principles and appropriate research process to collect, store and use of data to generate customer insights;
  2. Critically evaluate customer needs to create value for customers by deploying the resources of the organisation in best possible ways;
  3. 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:

  1. 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 -

  1. 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;

  1. 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;
  2. 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);

  1. 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 assignment 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)

65-74%

 

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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