Post on 03-Apr-2018
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648MarketingPlanningandControlFebruary2013 IndividualassignmentLearningOutcomes1-4
40%oftotalgrade
WordLimit:3500words(+/-10%).Due:Mondayofweek7(April1st),midnight
Section Topic % Awarded
Situation
Analysis
Internal(strength&weaknesses)
Currentproducts
Resources:human,financial,intangible
External(opportunities&threats)
PESTEL(3keyinfluences)
Industryhealth
Marketdrivers
Competitors
1
1.5
1.5
1
1
1
subtotal 7
Objectives Specific,measurablemarketingobjectivesx2 2
Segments
&Chosen
Strategy
Explanationofcurrentsegmentation
Competitiveadvantageofthebusiness/product
Strategicsegmentationpossibilities
Strategicsegmentationrecommendation/selectionPositioning
2
1
2.5
0.51
Tactics Strategicmarketingmix(7Ps)
Product
Price
Distributionchannels(Place)
Communication&promotion
Service(People&Process)
Appearance(Physicalevidence)
0.5
0.5
0.5
0.5
0.5
0.5
subtotal 12
Action
Plan
Timings(steps,timeline,duration)
Budgets(approximatecosts,rationale,howtocontrol)Departmentsinvolved(internalmarketing)&rationale
Responsibilities/accountabilities&why
KPIs(totrackandmeasurepersonalperformance)
Barriers(4factorsthatcouldgowrong)
Contingencyplanning(foreachbarrier)
3
32
2
3
4
4
subtotal 21
Finalresult%40
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BACKGROUND
YouareactingasanindividualconsultantforMFFH(MakingFinancialFuturesHappen).
ThisWellington-basedfirmprovidesawiderangeofconsultancyservicestobusinesses
andhighnet-worthindividualslookingtoinvestinbusinessesinNewZealand.(Inother
words,youhelpconnecthigh-potentialbusinesseswithrichinvestors.)
You are required to prepare a full marketing plan for a New Zealand company. A
wealthy client has a substantial sum of money that theywant to invest in a high-
potentialbusiness.Thisgivesyoualotofscopetoselectanappropriatebusinessforthis
project.
TheDirectors (andthe investorsyouworkwith) believe thatastrongmarketingplan
says a lot about the strength and talents of a businesss management team. While
acceptingthattheremaybesomelimitationsontheinformationavailabletoyou,they
haveaskedthatyouapproachthetaskasifyouwerecompletingitfortheownersor
managersofthecompanyyouareinvestigating.
Youwillneedtoapplythetextbooktheorytoaspecificorganisation.Youshouldselect
anorganisationwhereyouare able to find sufficientinformationtoanswerallofthe
questions. Information can come from a range of secondary sources (such as the
organisations website, publicity or other published material) as well as from
interviewingaknowledgeablememberofthatorganisation.Youmayneedtotalkwith
theowneroramanagerinordertounderstandthebusinessbetter.Thisconversation
willbeparticularlyimportantwhenitcomestoundertakingtheinternalanalysis.
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SITUATIONANALYSIS
ThekeyobjectiveofaSituationAnalysisistoidentifystrategicoptionsopportunities
topursueaswellasthreatsthatneedtobeminimisedoreliminated,andthecompanys
ability to do this. (Based on this analysis, you will identify options (and make
recommendations)forpotentialtargetmarkets.)
Thismayrequiresomeassumptionsonyour part, depending onthebusiness-specific
informationthatyouhaveaccessto.Yourexplanationshouldmakeitclearwhichideas
areassumptionsandwhicharebasedonfacts.
7percent
OBJECTIVES
If the company has a range of products and services youmay find it easier to set
objectivesforONE(1)specificproduct(orserviceproduct)ratherthantryingtoproduce
company-widemarketingobjectives.Ifyouhaveanydoubtaboutwhichapproachmay
bebestforyou,youshoulddiscussthisimmediatelywithyourTutorassoonaspossible.
Weallneedtobeclearthatyouarecarryingoutworkthatwillhavevaluetoyourclient.
2percent
SEGMENTS&STRATEGY
Nowthatyou haveagoodunderstandingof the businessfrom the SituationAnalysis
you need to produce a clear set of marketing strategies for the company you are
investigating.
Theinformationthatyouhavegeneratedaboutyourtargetbusinesswillbeenoughto
getyourclientinterestedinyourchoiceofinvestmentopportunity.However,itisnot
enoughinformationforthemtomakeafullyinformeddecisionaboutinvestinginthe
company.
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Onethingthatwouldpersuadeyourclienttoinvestinthecompanyisiftheycouldsee
thatthebusinesshadagoodunderstandingofitscurrenttargetmarket(s)andhowto
reachthemwithappropriatemessages.
Afterexplainingthecompanyscurrentsegmentationandnotingthecompanys
competitiveadvantageoveritscompetitors,explainthepossiblesegmentation
strategiesthecompanycouldchooseandrecommendone.
Givenyourchosensegmentationstrategyandtargeting,youwillneedtodevelopabrief
descriptionofyourpositioningforthecurrentmarketingcampaign.
7percent
TACTICS
Usingthe7Psmarketingmix,developthedetailsofyourmarketingcampaign.Thesewill
formthebasisofthemarketingactionplanandcontrolsystem.
3percent
ACTIONPLAN1
Having now come up with a plan to market your business or product, you need to
expandonthedetailsfortheactionplan.Thiswillallowyoutomonitorandcontrolthe
implementationof the plan.(If anythingis not goingaccordingto plan, you can take
action to correct it. Monitoring and control is an integral part of planning if the
outcomesofyouractionscantbemeasured,howdoyouknowhowsuccessful(ornot)
youhavebeen?)
Theobjectivehereistoproducea workableproduct/service-specificmarketingaction
plan. You are moving from could do to should do the details of the marketing
campaign. Taking themost appropriate/achievable tactics you came up with in the
previoussection,whereandhowshouldtheseactivitiesbedone?
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TIMELINE:Whatis theperiodofthe campaign?Is theproductseasonal(ie.approx.3
months)orwilla year-longor longercampaignberequired?Whatstepsare involved
andinwhatorder?
ESTIMATEDBUDGET:Whatarethelikelycostsandhowcanthesebecontrolled?
ACTIONPLAN2
DEPARTMENTS: What departments will need to be involved (and therefore
communicateregularlywitheachother)?
ACCOUNTABILITIES: Who will be responsible for making each step happen (and
adjustingtheplansifnecessary)?
KEYPERFORMANCE INDICATORS (KPIs):Considering the objectives, aswell as typical
marketingKPIs,whatwouldbethemostappropriateKPIstotrackandmeasurewhether
theresponsiblepeopleareperformingeffectively?
ACTIONPLAN3
BARRIERS:Whatarefour(4)thingsthatcouldgowrongthatmightdothemostdamage
andunderminethismarketingplan(considertheassumptionsyoumadeinthesituation
analysisandresponsesofthevariouspeopleanddepartmentsinvolved)?
CONTINGENCYPLANNING:For eachofthe four (4)barriersyou identified above,you
willneedtoexplainasuitablewaytoavoiditderailingyourmarketingplan.
21percent