Assignment 2 – The strategic marketing plan
Description Marks out of Wtg(%) Due date
Strategic marketing plan (modules 5 – 8) 100 50 26 October 2015
Maximum word count 3,000 words
General overview
This assignment leads on from assignment 1. Essentially you are required to establish a marketing plan to grow the market and sales for the organisation you have chosen in the target market you have focused on and given the situational analysis you have conducted in assignment 1.
This assignment should commence with an overall summary (about one page) of the context that you established in assignment 1. This will allow the marker to come up to speed on your analysis and thinking as the baseline for your recommendations in this assignment (it is unlikely that you will have the same marker for both pieces of assessment so consider this in what you present). You DO NOT need to include the full assignment 1 here but you may wish to replicate some of the analysis tables in appendices to this assignment if they are relevant – if you do this, make sure you refer to them in your summary and highlight the key features that a reader needs to note from these tables and analysis summaries. You may make adjustments to your original analysis and conclusions here based on the marking feedback you received in the first assignment.
This assignment should then commence with a specific statement of the marketing objective/s that will guide this plan based on the context you have set from assignment one. You will then show how each of the marketing mix elements (the 4 Ps) will contribute to the achievement of this objective in your plan. Each of the elements of the marketing mix are to be considered (product, place, price and promotion) and for each you will need to discuss the strategy you will adopt (with appropriate justification from theory and other sources), and the tactics you would recommend.
Finally, you will conclude with consideration of a timeline for this plan indicating the ordering of your tactical elements which will result in the achievement of the overall objectives of the plan. You also need to present a contingency plan which would consider any threats or potential reactions from competitors that you identified in assignment one as potentially having a negative impact on your plan and how you would propose these be dealt with if and when they arise. There is no requirement in this plan to focus on or prepare and defend a budget.
Be sure to attach all pertinent documents to your report such as any relevant tables and analysis from assignment one, to support your recommendations. Before submitting your plan, ask yourself the question, “Does this contain all of the information that would be needed for someone else to make a decision in my favour and adopt the recommendations I have made?” If not, revise your work.
Assignment format
This assignment needs to be written as a formal report (refer to chapter 3 of the Communications Skills Handbook for all the required elements) and would include the following sections:
1. An executive summary (no more than 1 page)
2. An introduction which will be the overview or summary of assignment one – no longer than one page (this will not be included in the word count for this assignment), the summary should briefly summarise the analysis work conducted including information about the target market you selected and the summary of the issues identified in assignment one about the product offering, the target market’s decision making process and any other psychological factors that are relevant, competitor analysis and the overall marketing objectives you suggested be adopted in the development of the marketing plan. Include any relevant tables and analysis you provided in assignment one as evidence to support your recommendations here in assignment two. These can be included either as appendices to the assignment or they can be incorporated into the body of assignment two as you deem relevant. Regardless of which approach you take, it is important that it is clear that these are the tables and analysis from assignment one.
3. The Marketing plan: This represents the body of your report and would include the following sections:
a. Marketing objectives: The marketing plan then needs to begin with a statement of the specific marketing objective/s for your target market.
Make these objectives realistic, achievable and measurable (SMART objectives). In writing your objectives be specific and avoid generic terms such as “increase,” “decrease,” implement as soon as possible”, and other non-specific and non-analytical language. Your objectives should align with the context established in assignment one and consider and be directed to the target market, in the location you have identified in that assignment. You also need to ensure that you have restated the value proposition you posed in assignment 1 here.
b. Shaping the market offerings, delivering and communicating value: -The marketing objectives for this campaign will then need to be translated into specific strategies and tactics for each element of the marketing mix (the 4 Ps). Whilst you need to be reasonably specific here remember you are constrained by a word limit and we are really looking for evidence that you have considered each of the elements and that you know how and why each suggestion fits with your overall objectives and goals for this campaign and how the elements fit with and complement each other (justification is essential and use the analysis you conducted in assignment 1). You need to provide enough detail to ensure we can see your thinking. Use tables here to assist with the word count (tables are not counted in the word count but if used need to be accompanied by discussion in the text – see the Communications Skills A
4. An implementation plan: Next consider the order or sequencing of activities with a marketing timeline related to your marketing tactics (i.e. what needs to occur first etc.).
5. Contingencies: after you have developed your plan you then need to consider marketing contingencies, or what are the risky parts of your plan and are there any actions that need to be considered or prepared to counter these if they were to occur.
6. Conclusion: Finally, provide an overall conclusion for your work (about 1 para) that brings it all together and re-enforces your case for this plan to be accepted/adopted.