This semester the Toowoomba Chamber of Commerce has asked us for some marketing advice to expand their membership. You have been tasked with developing a marketing plan for them to achieve this goal. The marketing planning process has been divided into two components: Assignment 1 and Assignment 2. Even though the two components are linked you are required to submit them separately and you will be graded on each component separately. Assignment1 will essentially provide the background information and analysis that will be then used to develop your plan and recommendations in assignment 2. You do not necessarily need the feedback from assignment 1 to complete assignment 2 but it will help.
In addition to your prescribed text, you will find many useful texts in the library and additional readings in the glossaries provided on the study desk. You should supplement your work and your reading with other sources of information and not just use your text as a reference source.
Assignment 1 requires you to conduct some research and prepare a marketing audit, highlighting the strengths and weaknesses of the organisation and its product offering, identification of a potential target market/s and a competitor analysis. In assignment 2 you are then required to develop a marketing plan designed to achieve the goal of increased membership for one specific target market from the analysis conducted in assignment1.
Assignment 1 detail
Description Marks out of Wtg(%) Due date
Marketing audit (modules 1–5) 100 40 Week 8 5 January 2015
Length: 2500 words maximum
Before you can develop your marketing plan and recommendations you need to know more about the product offering, possible competitors, market opportunities and other environmental factors that are likely to impact your strategy and implementation plan. This review and analysis is known as a Marketing Audit. In assignment 1 you are required to conduct a Marketing Audit that includes an analysis of the internal and external factors that will be relevant to the development of a marketing strategy for the Toowoomba Chamber of Commerce (2500 words maximum – excluding references, refer to the Communications Skills Handbook for more information about what is and what is not included in a word count).
Section 1 – Organisational Overview
A marketing audit should always commence with an overview of the company, its vision, mission and brand value. In this case the company is the Toowoomba Chamber of Commerce and information is provided later in this document for your analysis about the organisation. Please also watch the short video interview with Ms Helen Jentz – the CEO.
http://vimeo.com/user10756933/review/112030640/65e5eef946
Section 2 – Environmental Scan
In reviewing the organisation you are studying it is also important to consider and review the organisation in terms of its internal strengths and weaknesses and the external opportunities and threats it faces. SWOT, TOWS and PEST analyses are good tools to assist this stage of your analysis as are environmental scans and it is recommended that you use these. You may also use any other additional analysis to provide you with the information for your audit. Next you would consider the market in which the firm operates in terms of both competitors and customers.
1
0Section 3 – Customer, Competitor and Stakeholder analysis
1. A Target Market Analysis - Who are the target markets for membership of the chamber? There are a number of possible target markets which you will deduce from the information provided, whilst you need to list them all in this part of your audit and to analyse their priority and relevant merits, for your marketing plan (assignment 2) and for your customer analysis (the next step) you are only required to focus on one target market.
2. A Customer Analysis - Once you have selected and justified the target market you wish to focus on, outline any demographic and/or behavioural characteristics of this segment. You would need to comment on:
i. the relative size of the segment;
ii. potential market share and opportunities for growth and development; iii. any information relating to a psychographic profile (how this segment spends its time, money and attitudes);
iv. any other information including their likely purchase behaviour and motivations for membership and what the product offering would be for this segment (what are they buying and why); and
v. include the information you provided in your marketing reflection about the relevant value proposition for membership of the chamber for this segment.
3. A Competitor Analysis - Given how you have defined the product offering and value proposition for your chosen target audience in terms of its benefits or features, this section would focus on how membership of the Chamber compares to alternative purchase choices? This would include an analysis of the products/services/substitutions that are likely to be competition for this product offering in this market segment. How are competitors likely to react to an increase in marketing activity to attract new members in this segment?
4. A Stakeholder Analysis – You need to consider any other stakeholders who might have an interest in or be able to impact the marketing of this product offering in this segment.
Section 4 – Conclusions and Recommendations
Once you have completed these steps you are then required to summarise the main points and salient elements of this analysis to a concise statement of the overall
You need to defend your final decisions using both theory and practice references and the content and learning activities presented in modules 1–5 will support this assessment task. You should try to have a good list of references showing where you have found your information and it is important to cite all work and websites you have visited.
Your report should comprise:
1. An executive summary and introduction (approximately 200 words);
2. A body that includes all the analysis of business, current marketing and internal firm environments, customer analysis, external environments, competitor analysis and any other analysis. (Approximately 2000 words); and
3. A conclusion. This includes the statement of issues you have found, the gaps identified, overall strategic approach and future recommendations.
(Approximately 200 - 300 words).
The report should present logical, sequential and persuasive arguments, justified or supported by secondary sources of evidence. The purpose of your audit is not to simply reword or describe the Chamber or to provide direct quotes from the literature, but to offer a thorough understanding of the marketing issues, challenges and opportunities facing the Chamber in their goal of growing the Chamber’s membership base. Assignment 2 will then outline the proposed marketing plan to take the next step forward to market
You will be assessed on:
1. Ability to locate, assess and research material related to current marketing planning process and environmental scanning requirements. You will need to use logic and read widely to identify issues and leads to where you should research for this firm. These are important skills for a marketer to develop;
2. Ability to demonstrate an understanding of the current marketing planning
process and environmental scanning requirements;
3. Ability to identify and assess relevant theoretical and management issues in the environmental scan and audit (PEST, SWOT, PESTL, TOWS, customer, competitor and stakeholder analysis);
4. Presentation of a logical arguments and gap analysis – where are the opportunities for growth;
5. Ability to justify your position with use of supporting references; and
6. Communication style, including correct spelling, grammar and referencing. Your report should be in Times New Roman 12 point with one and a half line spacing.
File 1 - Strategic Plan - http://usqstudydesk.usq.edu.au/m2/mod/resource/view.php?id=299085
File 2 - Member Survey - http://usqstudydesk.usq.edu.au/m2/mod/resource/view.php?id=299086
File 3 - Survey data -
http://usqstudydesk.usq.edu.au/m2/pluginfile.php/437012/mod_folder/content/0/Survey%20 Responses.xlsx?forcedownload=1
THE ASSIGNMENT HAS TO BE DONE ACCORDING TO THE FORMAT BELOW:
1st page : executive summary
2nd page : table of contents
3rd page onwards:
1.0 PURPOSE OF REPORT
2.0 SCOPE OF THE REPORT
(what report contains and what it does not contain)
3.0 LIMITATIONS OF THE REPORT
(eg. Secondary data .. word limit .. no interviews conducted frm stakeholders etc)
4.0 OVERVIEW OF TCC (TOOWOOMBA CHAMBER OF COMMERCE)
- Highlight issues, challenges, problems of concern to TCC
- No historical facts
- Be analytical, not descriptive
5.0 MARKETING AUDIT
5.1 MACROENVIRONMENTAL ANALYSIS
This will be conducted using PESTEL … (keep the explanation of PESTEL in reserve in case u cannot reach the word limit)
(conclude with) A summary of the analysis is presented in the table below:
Factors & facts Implication to industry Implication to TCC
5.2 MICROENVIRONMENTAL ANALYSIS
This has been performed using Porter’s 5 forces.
The findings are presented in the table below:
facts factors Findings (conclude with a number eg. 1 = very small threat // 5 = huge threat)
6.0 OVERALL FINDINGS
You may use SWOT here
7.0 CONCLUSIONS
GET ANSWERS / LIVE CHAT