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GB530 Assessment 3
Marketing ManagementSubject Name
Subject Name Subject Name Subject
Name Subject Name Subject Name
Subject N Trimester 2, 2015
Assessment Information
Group research project report
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Session
Trimester 2, 2015
GB530 Marketing Management
ASSESSMENT 3 INFORMATION
Total Marks 30 marks ............................................................................................................................................... Weight 30% ....................................................................................................................................................
Due Date 11.55pm (AEST) Sunday 27 September 2015
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Assessment 3. Group research project report: ‘Brand/product extension marketing plan’
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Submission method: on-line submission to Turnitin via the link on the subject's Portal page
Late Submission Possible: No
Description: these in Weeks 1 and 2.
profit-seeking organisation. Your task is to develop a new brand, product or service for the organisation. this, students are to identify and apply relevant business theories and concepts from GB530.
or the one you or they are working for currently. Otherwise, it may be any another organisation is chosen, the key criteria are that it is real and operates in the ‘for-profit’ business sector.
extension marketing plan’. The plan should be presented in REPORT format.
The following guide will be of significant help in this assessment.
Session Milestone
Weeks 1-2 Form your group. Set group norms (method and frequency of meetings, agree member roles, etc).
Week 3 Development of marketing plan
Executive summary. Often this is not finalised until all components of the plan have been worked through.
Introduction. This covers the scope of the plan and identifies the key goals.
Product proposal. What will your proposal be about? Refer to Appendix 1 of Kotler et al. (2013, p. 627) and the contents of a marketing plan (Kotler et al. 2013, p. 79).
Answer questions in regards to the product proposal.
Key considerations:
• What is the brand name of your for-profit organisation?
•What is the new product that will generate revenue for which you will prepare a marketing plan and strategy during this subject? Give the product a name and describe its features and benefits.
Look up ‘brand extension’ in Kotler et al. (2013) and describe whether your product is considered a line or a category extension.
• Identify your products’/brands’ strengths and weaknesses (first part of a SWOT analysis).
•Discuss what information will be required to prepare your brand extension plan including consumer, competitor and market information.
This is a group assessment. Marks are awarded for overall group performance and are distributed to contributing group members equally; so, contribution by all group members together with group cohesion is important for good
Students are to form groups of up to four (4) members (no more) and you are recommended to form
For this assessment, you need to assume that your group is the marketing management team for an authentic
In doing
The organisation you select may be an organisation that you or one of your group members have either worked for organisation. Whichever
The outcome of your group’s work on this major assessment will be the construction of a ‘brand/product
Week 4 Current marketing situation – understanding the market
Building on from the work you completed in Session 1, this session looks at the marketplace you will be competing in.
Situation analysis
With reference to Appendix 1 of Kotler et al. (2013, p. 627) and the contents of a marketing plan (Kotler et al. 2013, p. 79), write a one-paragraph summary of the current situation. Write this after completing the following sections of the situation analysis:
• Review the macro-environment and list two (2) major trends in each area that will need to be considered, and explain how they will influence your brand extension plan (i.e. from a political, legal, environmental, technological, social and economic perspective). In other words, undertake a Pestle analysis.
• Review your micro-environment and in particular undertake a Porter’s Five Forces analysis.
• Review the size of the market you are going to compete in and forecast demand and market share.
• Undertake a SWOT analysis whereby you will summarise the internal strengths and weaknesses, and the external threats and opportunities (Kotler et al. 2013, pp. 77–8).
• Identify your consumer research requirements.
• Describe at least three (3) factors that will determine your success.
Week 5 Marketing opportunity – connecting with the customer
Building on from the work you completed in the previous sessions, this session looks at connecting with the customer. With reference to Appendix 1 of Kotler et al. (2013, p. 627) and the contents of a marketing plan (Kotler et al. 2013, p. 79), this session’s tasks may include:
• Describe the segment(s) of the market you will compete in and what your target(s) are.
• What geographical region(s) will you compete in (e.g. local area, state, national, regional or global)? (See Kotler et al. 2013, p. 248.)
• What demographic profile(s) will your target customers have (e.g. age, gender, family size, income, occupation, education)? (See Kotler et al. 2013, p. 249.)
• What psychographic profiles will your target customers have (e.g. beliefs, attitudes, cultural backgrounds)? (See Kotler et al. 2013, p. 251.)
• Are there any behavioural traits for the target market (e.g. habitual buyers in this category, light-users, once-a- year buyers, impulse)? (See Kotler et al. 2013, p. 251.) • Is it a business-to business target market? Why? Classify the business in terms of geographical area; what derived demand will drive the market; nature of the buying transaction (tender); and quantity types (one or many).
• Explain the rationale behind why these are the optimal target market segments, for example:
Ð growing segment/new segment just emerging Ð large segment
Ð will it provide large return on investment/large sales revenue?
Ð competitive gap in this area
Ð changing consumer habits have opened up new market.
•Explain what market targeting strategy you will use, and why. (See Kotler et al.
2013 , p.258.)? Undifferentiated/differentiated or concentrated/niche?
• What are your overall objectives? (See Kotler et al.2013 , p. 633.)
• Explain your core marketing strategy to achieve these objectives. (See Kotler et al. 2013 , p.79 & p. 633.)
Week 6 Developing strong brands
Building on from the work you completed in previous weeks, this session looks at the developing strong brands. With reference to Appendix 1 in Kotler et al. (2013, p. 627) and the contents of a marketing plan (Kotler et al. 2013, p. 79), consider the following areas in relation to your product. The product
• Describe your product/service including its key features and benefits.
• Describe your augmented product/service.(See Kotler et al. 2013, p.278.)
• Identify the classification of your product/service.(See Kotler et al.2013 , p. 279.)
• Work through and explain any relevant product attributes. (See Kotler et al.2013 , p.
284.)
• Discuss your product branding. ( See Kotler et al. 2013, p.298.)
• Explain packaging/labelling decisions. The brand
• Describe your branding strategy including:
Ð brand positioning
Ð brand name
Ð licensing (if required)
Ð brand repositioning (if required) (see Kotler et al. 2013, p. 302).
• Justify any market research you will undertake.
• Describe how you will test market your product.
• Explain any legal aspects that you must consider with your product (e.g. labelling, packaging, health issues).
Week 7 Delivering value
Building on from the work you completed in previous sessions, this session looks at delivering value. With reference to Appendix 1 of Kotler et al. (2013, p. 627) and the contents of a marketing plan (Kotler et al. 2013, p. 79), complete the following tasks: • Discuss internal/external factors that have led to your pricing decision (see Kotler et al. 2013, pp. 355–8). For example: o What are your product costs?
o What market share are you after? o What is the product quality? o What is competitor pricing?
o What type of marketplace are you competing in?
• Describe your overall pricing strategy (see Kotler et al. 2013, pp. 363–72). For example:
o – Will you use cost plus or value-based pricing? o Will it be, for example, EV pricing/going rate if a business market?
o For the new product will you use market skimming, market penetration strategies?
o How will your product sit within the product line-up?
• Describe any short-term adjustment strategies you may use in your planning and why you would use them (see Kotler et al. 2013, p. 374). For example, do you want to drive short-term sales growth or are there seasonal adjustments quantity discounts/cash back to take advantage of?
• How will people buy and receive your product? What are your retailing/ wholesaling strategy and tactics for your product? (See Kotler et al. 2013, Chapter 14.):
o Given your type of product, is this exclusive or extensive distribution? – Give examples of places you intend to sell your product.
o Is this an online-only product?
o Will you concentrate on geographical areas?
• How will you manage/design your marketing channel/logistics network to satisfy your consumer?
o What sort of service level do consumers expect for a product of this type, and how will you deliver or over o exceed? o – Can you gain a competitive advantage in this area?
Week 8 Communicating value
Building on from the work you completed previously, this session looks at communicating value. With reference to Appendix 1 of Kotler et al. (2013, p. 627) and the contents of a marketing plan (Kotler et al. 2013, p. 79), complete the following tasks: o What are your promotional mix objectives? o What are your promotional mix strategies? o What are your promotional mix tactics?
Step through the integrated marketing communication process (see Kotler et al. 2013, p. 462–8) and complete the following tasks:
o Review your target market.
o What are your communication objectives (awareness/knowledge/liking/ preference), and why?
o What is the message you want to tell your target market about your product/ service?
o Which medium/media are you going to use to communicate your message? o How will you know if your message has been received (measures)?
What other forms of promotion will you use and why? What is your overall promotional mix? (See Kotler et al. 2013, p. 456):
o Does it include, for example, PR/sales force/ online strategy? o Are you going to use any sales promotion tools in your plan?
Budget (see Appendix 2 of Kotler et al. 2013, p. 475):
o What are your sales revenue/volume objectives? o What is your budget?
o Consider your distribution strategy; for example, getting product in store o What is the promotional budget/expense forecast?
o Consider your advertising strategy, for example, television/press/public relations/online/sales promotion
o Consider your product development strategy Do you have any contingency planning in place?
Finalise your executive summary bringing together the first part of your plan (audit) and the second part of your plan (implementation).
Citations & references: include the sources you have used throughout the project.
Other relevant information
? It is important to address each and every question/section in the marking rubrics (see below) in order to optimize your marks.
? With regards to referencing. Whilst marketing plans in the business world do not usually include direct quotes, GB530 is a higher education subject and your plan is expected to follow academic protocol by containing the relevant in-text citations and a corresponding list of references: all in Harvard style.
? Please write your Brand extension marketing plan in the third person. If you are unsure about REPORT format and style then consult with your lecturer/facilitator.
? Remember that a fully executed marketing plan contains a significant amount of detail! You can find a good specimen marketing plan (Sonic) in Appendix One (1) in the prescribed textbook.
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Assessment 3.
Group research project report: ‘Brand/product extension marketing plan’
Marking Rubrics
Evaluative criteria Levels of achievement
Outstanding High Sound Limited
Introduction and product proposal
3 marks Clear description and highly appropriate name of new product. Full and logical and convincing explanation of how product is a brand extension. Clear, concise introduction with appropriate identification of main goals and scope of plan. Target market identified.
3 marks Clear description and relevant name of new product.
Logical and relevant explanation of how product is a brand extension.
Introduction with relevant identification of main goals and target market.
2-2.5 marks Basic description and which may lack some clarity and name of new product.
Basic explanation of how product is a brand extension. Introduction with identification of goals and target market and which aren’t clearly relevant or key to the product.
1.5 marks Limited or no description and name of new product. Limited and unconvincing explanation of how product is a brand extension.
No or poor introduction with little or no identification of main goals and target market.
0-1 mark
Current Marketing situation:
understanding the market Detailed, logical and complete situational analysis of current market situation.
In depth and broad critical analysis of both macro and micro operating environments drawing key logical conclusions. Purposeful SWOT
analysis highlighting all key outcomes and activities.
Logical projections for market demand based on sound research and marketplace trends. Clear identification and development of key rationale behind consumer research requirements.
Full and logical analyses of critical issues and keys
to business success
skilfully integrating
knowledge from market analyses. Detailed and complete situational analysis of current market situation. Broad critical analysis lacking some depth of both macro and micro operating environments drawing logical main conclusions. Purposeful SWOT analysis highlighting most key outcomes and activities.
Relevant projections for market demand based on broad research and marketplace trends. Clear Identification and development of most of rationale behind consumer research requirements.
Logical analyses of critical issues and keys to business success appropriately integrating knowledge from market analyses. Brief situational analysis of current market
situation, but lacking some key understanding of the market.
Basic critical analysis of both macro and micro operating environments drawing few logical conclusions.
Basic SWOT analysis highlighting few key outcomes and activities. Basic projections for market demand based on some research and marketplace trends. Basic Identification and development of rationale behind consumer research requirements. Basic analyses of many but not necessarily critical issues and keys to business success applying knowledge from market analyses. Poor and incomplete situational analysis of current market situation, with no understanding of the market.
Poor or no critical analysis of both macro and micro operating environments drawing poor or no conclusions. Poor or no SWOT analysis and which poorly addresses any outcomes and activities.
Poor or no projections for market demand based on poor research and marketplace trends. Poor Identification and development of any rationale behind consumer research requirements.
Poor or no analyses of critical issues and keys to business success with poor or no use of knowledge from market analyses.
7 marks 7 marks 5.5–6.5marks 3.5–5 marks 0 –3marks
Marketing opportunity: connecting with the customer 5 marks Clear, concise identification and understanding of target market and all contributing attributes. Succinct summary of
Market audit including all clearly established strategic marketing objectives and including core marketing strategy.
5.marks Clear identification and understanding of target market and all contributing attributes. Succinct summary of Market audit including most clearly established strategic marketing objectives and including core marketing strategy
4-4.5 marks Broad identification and understanding of target market and all contributing attributes. Basic summary of Market audit including many clearly established strategic marketing objectives and including
2.5-3.5 marks Poor or no identification and understanding of target market and all contributing attributes. Poor or no summary of Market audit with no inclusion of clearly established strategic marketing objectives and/
or including core marketing strategy.
0 –2.marks
Developing g strong brand
5 marks Demonstration of in depth and broad product understanding including sound product marketplace delivery involving persuasive positioning, branding, legal, and research requirements.
5.marks Demonstration of broad product understanding including sound product marketplace delivery involving good positioning, branding, legal, and research requirements. 4-4.5 marks Demonstration of basic product understanding including basic product marketplace delivery and basic level of positioning, branding, legal, and research requirements.
2.5-3.5 marks Poor or no demonstration of product understanding and poor sound product marketplace delivery and which lacks positioning branding, legal, and research requirements.
0 –2 marks
Delivering value
5 marks Logical and well supported pricing and distribution strategies that add excellent value to the product offering.
5.marks Well supported pricing and distribution strategies that add good value to the product offering.
4-4.5 marks Basic pricing and distribution strategies lacking some support and that add some value to the product offering.
2.5-3.5 marks Poor or no pricing and distribution strategies that add poor or no value to the product offering.
0 –2.marks
Communicating value
5 marks Extensive promotional strategies that show in depth thought regarding marketplace and unique product selling benefit understanding.
Realistic and thorough budget planning that considers revenue and expenses.
Finalised executive summary that is succinct and encompassing.
5.marks Wide promotional strategies that show broad thought regarding marketplace and unique product selling benefit understanding.
Realistic budget planning that considers revenue and expenses. Complete executive summary that is clear and encompassing. 4-4.5 marks Basic promotional strategies that show adequate thought regarding marketplace and unique product selling benefit understanding. Adequate budget planning that considers revenue and expenses Adequate executive summary that is adequate and encompassing.
2.5-3.5 marks Poor or no promotional strategies that show poor or no thought regarding marketplace and unique product selling benefit understanding. Poor or no budget planning that considers revenue and expenses. Poor or no executive summary that is unclear and non-encompassing.
0 –2.marks
Total marks /30
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