ABS102 - Principles and Philosophies on Marketing - Opportunities and Threats For the Future - Customer Segments to Target - Marketing Assignment Help

Assignment Task

ABS102: FUNDAMENTALS OF MARKETING

LEARNING OUTCOMES:

On successful completion of this assessment, students will be able to:
• Demonstrate an understanding of the fundamental principles and philosophies on which marketing is based;
• Prepare reports interpreting secondary-data so as to inform marketing decisions;
• Demonstrate a fundamental understanding of customers and the markets they operate within, so as to inform business decisions;
• Develop a marketing plan.

Task 1: Develop a Marketing Plan
• Graduates will develop a broad and coherent knowledge of the ‘triple bottom line’ of business, considering the impacts business decisions have on not only financial outcomes but also social and environmental outcomes;
• Graduates will develop skills specific to the program specialism required to be able to apply learnings in a real-world context.

ASSIGNMENT INFORMATION:
From the work you completed in your first assessment, suggest an entirely new product that can be introduced to the market that will assist the organization you have analyzed in achieving its business mission and goals. Alternatively, you may choose to suggest an alteration to an existing product. In doing so, it is expected that you will:
1. Clearly identify the business’ vision and mission;
2. Clearly, understand the current market situation of the or considering opportunities and threats for the future;
3. Determine marketing objectives that will assist the organization in moving further towards their business vision and mission;
4. Develop a high-level marketing plan that provides an outline for the company to follow.

PROCESS:
Section 1 – Identify Business Vision and Mission To get started, identify what you believe the business mission to be for the company you are working on. You may get this information from their website, interviews with business leaders, publications and reports, or potentially through personal conversations with business leaders or owners.

Section 2 – Conduct a Marketing Audit, you learn how to conduct a Marketing Audit. Based on all the information gathered and analyzed in the first section of your assignment, conduct a marketing audit to understand where the business that you’re working on currently sits, and therefore, what it might need to do in order to get closer to fulfilling its mission. When doing so, make sure to use the tools and frameworks provided in your learning materials.

Section 3 – Determine Marketing Objectives Based on the marketing audit you have conducted, identify a clear marketing objective from the Ansoff Matrix that will assist your company in moving towards its vision and mission.

Task 2: Develop a Marketing Plan
In this section, you will need to decide if a new product should be introduced to the market, or if an existing product can be adjusted to better perform. It is not acceptable to state that no improvements can be made – there is always room for improvement. If you are working on a venture concept, you will need to focus on developing a new product.

Section 4 – Develop a High-Level Marketing Plan Based on the marketing objective you have decided upon, create a high-level marketing plan for the company to address. The objective should be in line with the organization responding to their marketing audit towards achieving their business mission and goal. This should include:
• Customer segments to target;
• Market positions to attract selected target markets;
• Details of the marketing mix for the selected product(s) to attract the target market;
• IMC plan with selected channels and messages.

According to the objectives you have set and the results of your audit, your plan may have small or large changes to what the current situation is. Regardless of the outcome, full justifications must be provided of your plan – i.e. you should ensure that you justify all of your recommendations using the information you have gathered about the company and its market.

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