This assessment requires you to act like a consultant to help an organisation develop a winning marketing plan that wants to expand its business or markets.
This part of the assessment is a follow-up to the Situation Analysis which attached in a separate file. So you must read that report before you start writing this task. Also please refer the sample marketing plan attached in a separate file. Then, develop a complete marketing plan for this assessment to:
Develop a marketing plan – The aspects that you should include are:
a. Identify objectives and issues; develop marketing strategies; action programmes;
b. Budget and controls. You are also expected to suggest a clearly defined positioning strategy in the target market drawing from the value proposition.
Template for Assessment
Marketing Plan for Otherside Brewing Company
1. Current marketing situation
Describes the target market and companys position in it, including information about the market, product performance, competition and distribution. This section includes:
1.1 A market description- which defines the market and major segments, then reviews customer needs and factors in the marketing environment that may affect customer purchasing.
1.2 A product review- which shows sales, prices and gross margins of the major products in the product line.
1.3 A review of competition- which identifies the main competitors and assesses their market positions and strategies for product quality, pricing, distribution and promotion.
1.4 A review of marketing channels and logistics- which evaluates recent sales trends and other developments in the major distribution channels.
2. Threats and opportunities analysis
Assesses major threats and opportunities that the product might face, helping management to anticipate important positive or negative developments that might have an impact on the firm and its strategies. (Refer the situation analysis report)
3. Objectives and issues
States the marketing objectives the company would like to attain during the plans term and discusses key issues that will affect their attainment. (please note that you must mentioned when stating objectives – Specific, measureable, achievable, realistic, and timely also, Can everyone understand them? • Are they free from jargon? • Are all terms defined? Etc.
4. Marketing strategy
Outlines the broad marketing logic by which the business unit hopes to create customer value and relationships and the specifics of target markets, positioning and marketing expenditure levels. How will the company create value for customers in order to capture value from customers in return? This section also outlines specific strategies for each marketing mix element and explains how each strategy responds to the threats, opportunities and critical issues spelled out earlier in the situation analysis report. Write following
4.1 Define clearly the value proposition of your chosen business/product- Otherside brewing 4.2 Critically evaluate the businesss situation and develop appropriate marketing mix strategies;
4.2.1 Product - define the product attributes/features to reflect your value propositions.
You must write the threes levels that are accompanied with a product -core product, actual product and augmented product.
4.2.2 Pricing – describe the pricing strategy that you would recommend to the organisation and justify your choice.
4.2.3 Distribution – outline the distribution strategies you would recommend. For example, where would you locate outlets? Would you own retail outlets or offer franchise options?
4.2.4. Promotion – outline the promotion strategies you would recommend (e.g. most relevant advertising strategies)
(Please put more weights on part 4 of this assignment which is marketing strategy. So write more words for this section)
5. Action programs
Spells out how marketing strategies will be turned into specific action programs that answer the following questions:
• What will be done?
• When will it be done?
• Who will do it?
• How much will it cost?
Details a supporting marketing budget that is essentially a projected profit and loss statement. It shows expected revenues (forecasted number of units sold and the average net price) and expected costs of production, distribution and marketing. The difference is the projected profit. Once approved by higher management, the budget becomes the basis for materials buying, production scheduling, personnel planning and marketing operations.
Outlines the controls that will be used to monitor progress and allow higher management to review implementation results and identify products that are not meeting their goals. It includes measures of return on marketing investment.