Marketing objectives (page 536 – 539)
The organisation’s overall objectives and mission statement are included in this section, along with the marketing objectives that are intended to help achieve the organisation’s overall objectives. All objectives should be:
Marketing mix strategy
Use marketing literature including the textbook to justify your product strategy, price strategy, distribution strategy and promotion strategy. Relevant pages/chapters in the textbook are specified below.
Product strategy (Chapter 7)
The product component of the strategy needs to be outlined, including an explanation of how the product offers value to the target market. A discussion of branding should also be included. While you might not include a total product concept analysis of the product in your marketing plan (see chapter 7), it may be a useful exercise to inform the product strategy that is outlined in the plan. You need to address the following aspects:
Product differentiation (page 235-237)
Positioning (page 208-211)
Branding (page 238)
Product life cycle implications (page 228-234)
Pricing strategy (Chapter 8)
Detail the pricing objectives (e.g. cash flow, positioning and market share) (page 260-268)
Outline pricing methods and specific pricing tactics (page 268-271 & page 295 – 297)
Discuss competition considerations/competitors’ pricing (page 281-285)
You need to address the following aspects:
Outline the promotion objectives (page 310-311)
Explain the promotion mix (page 313-317)
What promotion mix is chosen and why? Choose from advertising, public relations, sales promotion, personal selling etc. Considerations should also be given to additional marketing communication options such as sponsorship, guerrilla marketing, and viral marketing if appropriate for the organization.
What media are used and why? (TV, billboard, online, social media?)
Distribution (place) (page 357-383)
Detail the distribution strategy that will ensure the organisation’s products are available to customers where and when they want them.
All given scenarios are relevant to retailing. So your discussion needs to address retailing strategy including:
Location strategy (page 374)
Retailing positioning strategy (page 374 – 375)
Provide a schedule of implementing your marketing plan – what activities happen at what time and at what cost based on research evidence. Estimated cost is acceptable. (An example is available on page 569 in the textbook)
Outline the marketing metrics (e.g. return on investment, brand equity, customer satisfaction, etc.) that will be used to evaluate its success. (page 65-67, 549-550)
Offer a brief summary of the report and include recommendations for approval and/or action (e.g. that the marketing plan be accepted by senior management for implementation, in order to exploit opportunities for growth.)
Full in-text reference and a reference list are required. You may use APA or Harvard referencing style.