Assessment 3a Structure, Marks, Word Limit and Research:
The Marketing Plan is in a report structure, so it has a lot of different sections and sub-headings. Look at the marking rubric for this task in the Assessments area of the unit. This task is a forerunner for the final 3b Marketing Plan. The word limit for this task is 1000-1500 words and you need to stay within 10% of that limit (over or under). This covers sections of the report from the Introduction to the Conclusion (excluding all headings and sub-headings). The word limit does not include the Title Page or list of References as the end, or any Appendices. Ensure that your group researches well and addresses all aspects of the topics in each section of this task. Always remember that using strong academic research and integrating a lot of good theory from a range of quality sources, will impress the those marking your work. It is expected that, at a minimum, that each group will use 4 (four) academic resources in this task. Additional academic research is always looked upon favourably by your markers at university. These resources will include the current textbook from this unit (which is compulsory), and peer reviewed journal
You may add a picture on this front page (for example, this could be one of the new product or logo). Ensure that you insert a page break, so that the rest of the report starts on the next page. (If you do not use page breaks, your document can move down in the upload to the Drop Box).
The purpose of this section is to explain to the reader the aim or the purpose of the task, which is part of the Marketing Plan. The introductory paragraph also needs to cover the contents of the task. It is an overview of what is covered in the report. It also should identify the new product and the firm and that it is a crowdfunded product. It needs to also identify the intended marketplace for the launch of this product (Australia). The sources of any theory or product information that has been discussed in this section, must be referenced in Harvard style within (with fuller details listed in the reference list at the end).
Target Market Analysis
This should be a brief section that defines and explains what a target market analysis is, by using theory. It should highlight the focus of this analysis task, exploring market segmentation and mass marketing. The sources of any theory that has been discussed in this section, must be referenced in Harvard style within and listed in the Reference list at the end. Do not do a target market analysis for the new product – just explain what one is instead, by using theory. This is usually a smaller single paragraph in size.
This is a theory section that defines, explores and discusses market segmentation. It should explain the main ways markets are segmented by using theory covered in this unit. It should be heavily referenced in Harvard style and encompass a range of academic resources within. This is not a section where the new product or marketplace should be covered at all. This section is to demonstrate your knowledge of theory in this area. This section is usually larger in the report as it is a key section and around 2-3 paragraphs.
This section is a theory section that defines, investigates and examines mass marketing. This section also needs to be heavily referenced in Harvard style and encompass a range of academic resources within. This is also not a section where the new product or marketplace should be discussed. Again, this is an area to show your knowledge of the theory. This section is also a larger core section and a similar size to the one above, around 2-3 paragraphs.
Brief overview of the product
This section should contain a brief overview of the new product. The source of information used should be referenced in Harvard style here also. A single paragraph will do in this section. You are going to do a large product section in your final 3b group task, when you cover the marketing mix (the 4Ps), so you do not have to write too much in this area, but you do need to cover the product in some detail.
Chosen marketing strategy for the product
As a group of students, you need to discuss this first and come to a consensus on the strategy. Within this area of the report, the group needs to cover the chosen marketing strategy for the new product in the Australian marketplace. This will either be market segmentation or mass marketing. You will need to identify your choice here and justify the reason for your decision, and this should be linked to referenced theory. This part can be reasonably brief, because you will go into more detail in the next section(s). If your group choice is market segmentation or mass marketing, you will then discuss that below under a sub-heading(s). This section can be around one small paragraph in size. Academic information in the readings area of the unit or peer reviewed journals may be useful to link to and support any justification.
If you have selected to adopt a market segmentation approach for the marketing strategy relating to the new product, you will have a range of sub-headings below that will relate to the basis on which the group intends to segment the market, such as demographic, geographic and so on. This was covered in the last class and is in the Workshop slides. This is up to the group members to determine which segments are relevant or appropriate to the new product. Then under each segment sub-heading, discuss this market segment and apply it to the new product to identify, explore and discuss how this links to your new product and the Australian marketplace. The focus here is on analysing this market segment and applying it to the new product and this domestic market. Additionally, you will explain why you have selected this method of segmentation for the new product and link also to segmentation theory. Then this process can be used for the other basis of market segmentation your group has decided upon for the new product launch into this domestic market. Ensure that theory, product and marketplace information is referenced in this section in Harvard style, as required. If you decide on this strategy, you will have a few headed paragraphs for each of the segmentation types that you believe are relevant to the new product and market. This theory was covered in class and is on the attached slides. This will be a core section of the task.
If the group has selected mass marketing as the chosen marketing strategy, use one new heading instead. Then reiterate why this strategy was selected and then analyse and apply it to the new product in the Australian market. Your task is to explain here why mass marketing suits the new product by discussing the product in the domestic marketplace, and additionally support your contentions, by using theory. Use Harvard referencing for any theory, product or marketplace information that is covered in this section. If this is your groups selected marketing strategy, you will write 2-3 paragraphs that link the theory to the market and the new product. This will be a core section of the task.
The conclusion is a summary of the main points covered in the task. It needs to tie back to the introduction and explain what was covered in the task. The best method to do this is usually by systematically going through each section and reducing each to about one sentence (or perhaps two, if needed) that encapsulates what was covered in that part of the task. Then you will also get a nice layering of points that are in order of how it was addressed within the report. Never introduce new theory or concepts into this section, it is a summary. You may end with a concluding statement of one sentence. The sources of any theory or product information that have been discussed in this section, must be referenced in Harvard style within and included on the Reference list at the end. Ensure that you insert a page break, so that the Reference list starts on a separate page.
This must list all the resources used in the task, both academic or otherwise (for example, for product and marketplace information) that was used in the task and referenced within. These resources must be in alphabetical order and in the correct Harvard style. A sample of how the reference the unit textbook or a chapter of the current text was provided in my Harvard PowerPoint, along with an example of how to reference a journal article and a textbook (or eBook), in this list.