MKTG6002 - Strategic Marketing Plan Assignment - Torrens University Australia

Assignment Task

The assessment task requires you to create a word strategic marketing plan for either a product or service offered by the company you chose for assessments 1 and 2. You will draw on your situation analysis from Assessment 1 and your analysis of segmentation, targeting, and positioning (STP) from Assessment 2 to complete this assessment.

Context

A marketing plan acts as a strategic roadmap that businesses use to organize, implement, monitor, and control their marketing strategy over a given period. It helps managers to understand the effective use of marketing mix and business strategies to target a specific market. This assessment provides you with the opportunity to apply the knowledge and insights developed in this subject to develop effective marketing strategies for a business product or a service.

This assessment is designed to develop your understanding of:

• The importance of marketing in modern business practices;
• Marketing theories and their application in devising marketing strategies; Factors affecting the exchange process; To enable developing insightful marketing strategies for a business

Executive Summary

Brief overview of the findings of your strategic marketing plan. It is recommended that you write this part of your strategic marketing analysis last once you have completed the other sections of your strategic marketing plan.

Introduction

A brief overview of your chosen company, including who they are, what they do, and the product or service that is the focus of your strategic marketing plan.

Situation Analysis

Summarise the findings of your situation analysis from Assessment 1, with specific reference to:

• Environment (PESTLE)
• Key Competitors (and how they compete)
• Identification of Target Market Segment(s) MKT600 Assessment 3 Brief Strategic Marketing Plan
• SWOT

Business Objectives for chosen product/service

Outline SMART objectives for the marketing of your chosen product/service.

Marketing Strategy Evaluation

In-depth discussion of the following in relation to your chosen company

• Competitive Advantage and Positioning Evaluation
• Marketing Mix Strategy:
• Product Service Specification(s)
• Product Service Competitive Strategy
• Distribution and Logistics
• Pricing Evaluation
• Promotions

Financial Analysis

Provide a 1-year profit & loss summary highlighting revenues ad expenditures associated with the marketing of your chosen product/service

Plan Implementation and Control

• Create a plan outlining how your marketing strategies will be implemented, including.
• Overview of types of promotions, selected media, and scheduling
• Control strategies to achieve SMART objectives.

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