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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