Assessment 2: Group project
Complete the details of your group in this section below.
STUDENT NAMES:
STUDENT ID:
Overview:
Groups of about four people will be formed in the Week 2 tutorial. Each group will be required to develop a plan for successful launch of a new FMCG (Fast Moving Consumer Good) in the Australian market. Students will submit hard copies before the formal presentation in week 11. Presentation must include full reference list. Students are required to defend their chosen strategies in the 20-minute-long presentation. The presentation should also include an A1 size poster to communicate the marketing mix to the audience. It is important that groups conduct research to identify the target market and develop appropriate marketing mix for the new product.
Your presentation will be assessed through applications of theory, and creativity. Application of theory is being assessed through the development of a sound strategies and justification of developed strategies. Creativity will be measured based on how innovative the product idea is and how innovative marketing strategies are aligned with product and target market characteristics.
You are required to cover the flowing components for the presentation:
• Provide a background of the industry/chosen product category.
• Analyse the current market situation (competitive environment, target market) conducting situation analysis (SWOT) – present real facts and figures based on research.
• Choose a new product in the market (or develop your own) to be targeted to a group of consumers. The “newness” of a product should be viewed from the targeted segment’s perspective.
• Analyse profile of the selected market justifying the need of the product in line with the profile of the group.
• Demonstrate how relevant micro- and macro-environmental forces might impact on the demand potential for the new product.
• Give an outline of the marketing strategies (4Ps: Product, Promotion, Price, Place/distribution) to be implemented for the new product in achieving your marketing objective(s).
• Demonstrate why you consider suggested marketing strategies using the marketing mix for your new product are effective justifying your arguments.
• Provide a summary and conclusion at the end of the presentation.
• Include a full reference list
Note: Keep a copy of all your work in the event the original is lost. Copy all material so that each team member has a copy.
In the event that a group member does not submit their contribution, you are still expected to submit the complete project on the due date and it will be marked accordingly. No extensions will be granted because of problems between group members.
Note: If you are having issues in working collegially as a group, please contact your tutor. Advising them of group issues as you hand your report in is not an ideal
Note: This assessment is due in week 11 and carries a 25% weighting. Presentation length is 20 minutes.
Instructions
This is a group assessment. Assume that you are a marketing executive in a company and you are required to develop a plan for successful launch of a new FMCG (Fast Moving Consumer Good) in the Australian market. The following are the few steps of a Marketing plan. Fill up the empty boxes with marketing plans for your chosen product.
Question Explanation Our strategy
Vision statement The vision statement briefly outlines your future plan for the business. It should state clearly what your overall goals for the business are. To keep it brief you may prefer to use dot points in your summary.
Goals/objectives What are your short and long term goals? What activities will you undertake to meet them?
The Market
Question Explanation Our strategy
Target market Who are you selling to? Why would they buy your products/services over others?
This answer should briefly summarise your answers under the main Market section.
Marketing strategy (4Ps: Product, Promotion, Price, Place/distribution) Outline of the marketing strategies (4Ps: Product, Promotion, Price, Place/distribution)
How do you plan to enter the market? How do you intend to attract customers? How and why will this work?
This answer should briefly summarise your answers under the main Market section.
S.W.O.T. analysis
Question Explanation Our strategy
S.W.O.T. analysis table List each of your businesses Strengths.
S.W.O.T. activity sheet List each of your businesses Weaknesses.
S.W.O.T. activity sheet List each of your businesses opportunities.
S.W.O.T. activity sheet List each of your businesses threats.
Your competitors: Students need to do a quick research online to find information on their competitors.
Question Explanation Our strategy
Your competitors How do you rate against your competitors? How can your business improve on what they offer?
Competitor details table List at least 5 competitors in the table. For each competitor enter:
• Competitor: Competitor name.
• Established date: When were they established?
• Size: Number of staff and/or turnover.
• Market share (%): Estimated percentage of market share.
• Value to customers: Unique value to customers. Why they would do business with your competitor? For example: convenience, quality, price or service?
• Strengths: What are your competitor's main strengths?
• Weaknesses: What are your competitor's main weaknesses?