BSB 126: Matchbox is a Popular Toy Brand - Management Assignment Help

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BSB 126 – MARKETING PLAN ASSIGNMENT INSTRUCTIONS
SEMESTER 1, 2021
Matchbox is a popular toy brand which was introduced by Lesney Products in 1953 and is now owned by Mattel, Inc, which purchased the brand in 1997. The brand was given its name because the original die-cast Matchbox toys were sold in boxes similar to those in which matches were sold.
Matchbox Cars - saw its sales drop 75% after the introduction of Hot Wheels, made by U.S. toy giant, Mattel. Hot Wheels debuted in 1968 and some product was made in America, although by 1972, all production had moved to Hong Kong. Many British toymakers moved their production to Asia but it was too late to play catch-up.
By 1983, the British toy industry had collapsed - Corgi Toys went bankrupt (and was later taken over by Mattel). Dinky went belly-up in 1981; Matchbox in 1982. At a macro-level, children no longer play with Matchbox cars, now more likely to engage with iPads and gaming consoles.
Assume the role of marketing manager/consultant for a Venture Capitalist firm that has just bought the rights to the Matchbox Car Company. Your job is to construct a basic marketing plan for growth.
When considering your growth strategy, please refer to the Ansoff Matrix, choose either Market Penetration, Product Development or Market Development.

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 and advice will be provided in your tutorial.
II. MARKETING GOAL [approx. 15 words]
From the Ansoff Matrix, 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.
Distribution ? Distribution captures the channel through which the product is delivered to customers. Briefly describe the current marketing channels (supply chain) for your chosen product, describe its distribution intensity and offer an alternate/complementary method of distribution. Justify your recommendation. Chapter 12 of the text will be helpful.
Promotion – Using the “Objective?and?Task” method, describe how you would spend AUD $100,000 for promotions to help reach your previously stated marketing goal. Describe the IMC tool(s) you will use, how the money will be spent, and what you expect to achieve. Promotion decisions should be realistic and suggestions can be found in Chapter 13 of the text.
V. REFERENCES [not included in word count]
As a rough guideline, you should reference between 15 and 20 reputable sources in your assignment. You must cite and reference all your sources of information in APA format. Help can be found at http://www.citewrite.qut.edu.au/VI. APPENDICES [2 pages maximum, and not included in word count]
In your two pages of appendices you can include any supporting documentation you think is necessary to help the reader understand your marketing plan. It could be a section of an industry report; some graphs or charts; a mock?up for a print/online ad you have generated for your chosen product (or a storyboard for a TV/video ad); a media alert for the product’s introduction or anything else.
MARKETING PLAN – HOW TO BEGIN?
One major function of a marketing manager is to grow the product, brand or both. The Ansoff Matrix (See Chapter 9) is useful as a starting point for your assignment.
? Penetration is re?invigorating the brand and selling more of the existing product to existing customers.
? Product development is modifying the product (or perhaps a brand extension) to sell to existing customers.
? Market development is selling the existing product to new customers.
Choose one of the three quadrants (do not choose diversification, as it is not well suited to this type of assignment) as your method for growing the product or brand.
 

MARKETING PLAN CHECKLIST
Before starting and subsequently submitting your assignment, you should check?off each item in the checklist below:
Use the assignment template provided on Blackboard, and keep to 1.5 line spacing, 2.5cm margins and a readable font such as Times or Calibri.
The 2000 word limit is for sections I, II, III and IV only. You can go over the word count by 10% (200 words) without penalty, but any more than that will incur a penalty.
Sections V and VI are not included in the word count.
Include your total word count (for sections I?IV) on the front page of your submission.
Use the APA referencing system throughout your document.
No table of contents, introduction or conclusion is required.
Wikipedia and other similar sources are not to be used or referenced for this assignment.
Do not reference the lecture notes.
Use original sources such as books, journal articles or industry reports.
Submit your assignment (electronically) to the TURNITIN link on Blackboard by the due date. Assignments received after the deadline (without an approved extension) will not be marked.
If you submit your assignment well before the due date, you will get the chance to check the TURNITIN text matching report, make any changes you think are necessary and resubmit by the due date. We will mark your last submission (up to the due date).
If you have not completed your assignment by the due date, and do not have an approved extension, then you should submit the work you have completed by the due date and it will be marked against the assessment criteria.
Backup and keep electronic copies of your assignment.

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