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BSB 126 : Marketing Plan Describe Two or Three Market Segments - Management Assignment Help
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Assignment Task:
Task:
YOUR INDIVIDUAL TASK
Choose one brand from this list as the subject of your marketing plan. Assume the role of marketing manager/consultant for the product/brand and your job is to construct a basic marketing plan to save/grow the brand.
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Founded in San Francisco in 1858, Levi Strauss and fought off competitors like, Wrangler and Lee, however, the growth of activewear may pose a new treat to this iconic brand. A recent study by Synchrony Financial found 69% of people reported to wearing athleisure, as opposed to jeans, at least once a week. As a Marketing Manager for Levi’s, how would you grow this brand?
Read: https://www.pymnts.com/news/retail/2016/denim-sales-decline/ |
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Kangaroo Island lies off the mainland of South Australia, southwest of Adelaide. Over a third of the island is protected in nature reserves. It was estimated tourists would spend $168 million in 2020 on the island. However, in January 2020, the island was decimated by bushfires. As a Marketing Manager for the South Australian Tourism Commission, how would you encourage tourists to visit, post the bushfire disaster?
Read: https://www.abc.net.au/news/2020-01-08/kangaroo-island-tourism-impacted-by-deadly-bushfire/11850712 |
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Founded in 1877, with vineyards in the Riverina, Hunter Valley, Coonawarra and Margaret River, McWilliams has become a household name. However, after 141 years, in January 2020, the business was placed into Voluntary Administration. As a marketing consultant, what would you advise the administrators to do to save the brand and grow the business?
Read: https://www.abc.net.au/news/2020-01-09/mcwilliams-wines-goes-into-administration/11855426 |
BASIC MARKETING PLAN – OUTLINE AND EXPLANATION
I. SITUATION ANALYSIS [approx. 500 words]
This section provides general information about the marketing environment including the company, its goals and resources. SWOT and CDSTEP (you may also use PESTLE) analyses are appropriate for this section. Given the tight word limit, I suggest you put the SWOT and CDSTEP in the appendices and refer to the most relevant factors in this section. Direction can be found in Chapter 4 of the text and your tutorial.
II. MARKETING GOAL [approx. 150 words]
From the Ansoff Matrix in Chapter 9, state your chosen method of growing your product/brand [penetration, market development or product development]. Then describe your realistic marketing goal. Marketing goals should have two things – a focus (either monetary or non?monetary) and benchmarks (by how much and by when). Monetary goals can be net income, margins, return on investment, retail sales (and others) while non?monetary goals can be sales volume, market share (and others).
III. MARKETING STRATEGY [approx. 600 words]
At a basic level, marketing strategy is identifying the target market, and defining the value proposition. You can find additional resources and frameworks in Chapter 6 of the text – Segmenting, Targeting and Positioning.
Target Customers
Describe two or three market segments, and then identify one segment you will target. Develop a profile of your target segment.
Value Proposition
The value proposition is addressing the question “why will your target customers want to buy this product?”
You should also construct a positioning statement that brings together the target customers and value proposition into one statement. You may want to include a positioning map in your analysis.
IV. MARKETING TACTICS [approx. 900 words]
These are the marketing mix elements that you should tailor to suit your target customers, your company resources and your competition.
Product – You can suggest product development or branding changes. Describe the current brand identity. You should consult Chapters 8, 9 and 10 of your text.
Price ? Briefly discuss the 5Cs; decide on whether you will use cost, competitor or value based pricing and justify your decision. Are there any other pricing models that might be suitable? Will you offer any incentives? Chapter 11 of the text and your tutorial should help
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