Assessment 2: Project
You work for ABC Company as a new Marketing Manager and you have received an email from Business Operations Managing Director.
As you may already be aware, the previous Marketing Manager, will be taking 12 months of maternity leave commencing immediately. You have been recommended by the Line Manager, to take on this role in her absence with the title of Acting Marketing Manager.
Your first task in this role is to prepare a 12-month marketing plan ready for an executive management team meeting in 3 weeks’ time. The plan should address the ABC marketplace and should be in a format appropriate for the organisation.
Please refer to the document outlining the outcome of this year’s market world research, provided below.
ABC market world research
These are the main performance issues that you will need to address within the ABC marketing plan:
? household income survey indicates a 23% decline in disposable income due to an increase in interest rates
? political and legal findings indicate that ABC employees are working longer hours
? there is a political emphasis on economic growth
? there is new legislation relating to labelling requirements on all products delivered to ABC customers
? world industry report findings indicate that large supermarket chains are planning to introduce a range of smartphone applications
? the world industry report has reported an evolving need for satisfaction being sought by buyers in the electronics market
? market world research shows that 57% of ABC customers now prefer to order products online
? visits to bricks-and-mortar stores for products are declining and in-store sales have dropped by 37% in the past quarter
? market world research has reported a 28% material shortage due to overseas drought conditions, making 23% of ABC products temporarily unavailable
? the industry report shows an 18% expansion by other electronic chains – both interstate and internationally
? strategies adopted by each major competitor have created a price war
? overall sales have decreased by 22% as a result for the fight for market share
Complete all the questions below.
1. Use the table below to create a 12-month marketing plan to be presented to the executive management team in a team (assessor, your friends or classmates). Consider the following when creating your marketing plan:
? Prepare any additional communication tools necessary to persuade stakeholders in your organisation of the benefits of the marketing plan.
? Review the company business plan to identify organisational mission, business growth strategy an goals, products, customer markets and marketing strategy. Pay attention to target customer segments and the product categories for those segments.
? Review the marketing strategy and elements of the marketing mix as described in the business plan. Is it an effective marketing strategy and marketing mix?
1. Executive summary
A high-level summary of the marketing plan
2. The challenge
A brief description of the product that is to be marketed and the associated product goals, such as predicted sales forecasts, sales figures and strategic goals.
3. Situation analysis
ABC company analysis, featuring:
• market share.
4. Customer analysis
Address the following:
• Value drivers
• Decision process
• Concentration of customer base for a particular BizOps product
5. Competitor analysis
• Market shares
7. Subsidiaries, joint ventures, possible distributors, etc.
Macro-environmental (PEST analysis) that includes:
• political and legal environment
• economic environment
• social and cultural environment
• technological environment.
8. SWOT analysis
A SWOT analysis of the business environment can be undertaken by considering the environmental factors:
• The company’s internal attributes can be classed as strengths and weaknesses.
• The external environment will usually present opportunities and threats.
9. Market segmentation
Present a description of the market segmentation that addresses the following:
• Per cent of sales
• What the customer wants
• How the customer will use the product
• Product support requirements
• How to reach the customers
• Price sensitivity
10. Alternative marketing strategies
List the alternatives that will be considered before reaching the recommended strategy. Alternatives will usually include things such as product discontinuance, product re-branding or product re-position, either as a premium or extra value product.
11. Selected marketing strategy
Explain why a strategy was made redundant or rejected and why a strategy was selected, which will include the marketing mix decisions, and the four Ps (product, price, place and promotion).
Any ABC product decisions need to consider the actual product advantages and how they will be used to leverage the product. The product decisions must include:
• the name of the product (brand name)
• scope of the product line
• product warranty (if applicable)
• product packaging.
Explain the pricing structure or strategy for the ABC product, expected volume and the decisions around pricing variables including:
• list price
• payment terms and financing options
• leasing options.
14. Distribution (where the product will be placed)
• Distribution channels that might include direct, retail, intermediates and distributors
• Criteria for distributor evaluation
• Distributor margins (motivating the channel)
• Distribution locations
• Logistics such as warehousing, transportation and order fulfilment processes
How much advertising and which media? Consider the following:
• Engage public relations
• ABC promotional programs
• Promotional budget to ensure break-even point
• Projected promotional results of the program
16. Short- and long-term projections
Document the selected strategies immediate effects and expected long term results. Explain any specific actions that will need to be undertaken to achieve this. In this part of the marketing plan you can include forecasts of revenues and expenses as well as results of break-even.
Summarise all of the above
2. Complete a SWOT analysis using the SWOT analysis template. Identify marketing opportunities.
3. Decide on three marketing objectives for the flagship products and develop a marketing strategy scorecard for the next 12 months using the marketing strategy scorecard template. Consider your responsibility for ethical and legal marketing. Which laws and industry standards needs to be taken into account? Amend the marketing strategy scorecard accordingly.
Marketing Strategy Scorecard
Target time frame to achieve
Deadline for finishing the activity Key performance indicator
A specific, measurable outcome from doing the activity
Marketing objective 1:
Marketing objective 2:
Marketing objective 3:
Refer to ABC policies and procedures
4. Prepare a work schedule. What processes need to occur for the marketing team to gain support of other departments to implement the marketing plan and who needs to be involved?
5. Develop a budget, including sales revenue forecast. Consider whether you need to take into account the risks of implementation and factor those into your budget. Prepare the budget in a table.
6. What will be the performance metrics for the marketing plan? How will you go about obtaining the data to do these metrics?