Informationforstudents:Phase2-Strategies&Implementation

1.MarketingGoalandObjective

Note:YouonlyneedtodiscussoneGoalanditsassociatedObjective.

MarketingGoal:

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Onesentence'overview'statement.

MarketingObjective:__________________________________________________

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Moredetailisrequiredhere.NotethattheobjectivemustconformtotheSMARTframework.

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2.SpecificMarketingStrategies

A.PrimaryTargetMarketDescribeyourprimarytarget'sbasicneeds:Identifyingcharacteristics(demographics,geography,values,psychographics):Purchasing/shoppinghabitsandpreferences:Consumption/dispositioncharacteristics

Ifapplicableyoucandescribeanysecondarytargetmarketthatyoufeelwillbealsorelevant.

B.TheMarketingMixHereyouneedtodiscusswhichofthe4Psyouneedtoutilise,andhowtheywillbeimplemented,inordertoachievethemarketinggoalsandobjectivesidentifiedabove.Itisnotrequiredforyoutonecessarilyuseallfour.

(Note:PleasebeVERYspecificaboutyourmarketingmixdiscussionrememberthatyourmarketingmixmustbeausefulguidetoaction.Itisbettertobespecificaboutaselectfewofmarketingmixelementsthantocovertoomanyelementsbriefly). Describethewaysthatthefirmcanmatchitsrelativestrengthstoitsopportunitiestocreatecapabilitiesinservingcustomers'needs.o Arethesecapabilitiesgroundedinanybasicprinciplesofandcompetitiveadvantage,e.g.,operationalexcellence,productleadership,and/orcustomerintimacy?Ifso,howwillthesecapabilitiesandadvantagesmadeapparenttocustomers? Describehowthefirmmightconvertitsrelativeweaknessesintostrengthsoritsthreatsintoopportunities?Ifnot,howcanthefirmminimiseoravoiditsweaknessesandthreats?o Doesthefirmpossessanymajorliabilities(unconvertedweaknessesthatmatchunconvertedthreats)orlimitations(unconvertedweaknessesorthreatsthatmatchopportunities)?Ifso,aretheseliabilitiesandlimitationsapparenttocustomers?

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3. Marketing Implementation & Control

A. Implementation - Tactical Marketing Activities You are required to present an 'action plan' a specific set of instructions set out as a table that others could follow for the achievement of your goal (i.e., you need to be specific about what you would have others do).

Note: These seven steps below are only a guide, and may not need to include each one for your particular strategy.

Specific Steps to Achieve the Marketing Goal Person/Department Responsible Rationale for the step Control Mechanism

1.Market Research 2.Analyse the Data 3.Reformulate the Marketing Mix Elements 4.Test Market the New Marketing Mix 5.Evaluate the Results 6.Launch the Marketing Campaign 7.Market Research

Name the specific position or agency you feel responsible for completing each step.

This is the most important information to include in your answer. Be very specific about what you intend to do in each step

Use the list (in B. below) to determine what 'evaluation and control' mechanisms you would employ for each step to ensure it was effective

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B. Evaluation and Control The following are the types and levels of 'formal controls' that could be used to ensure the implementation of your stated goal. (Note: You are not required to discuss informal controls.)

Input controls (actions needed before the marketing plan can be executed) AdditionalfinancialresourcesneededAdditionalcapitalexpendituresneededAdditionalresearchanddevelopmentexpendituresneededRevisedhumanresourceactivities:EmployeerecruitmentandselectionEmployeetrainingprogramsEmployeemanpowerallocationsOtherneededinputcontrols

Process controls (actions needed during the execution of the marketing plan) Management-focused controls: Altered lines of authority/structure (organizational chart) Management commitment to the marketing plan Management commitment to employees Employee-focused controls: Altered employee evaluation and/or compensation systems Enhanced employee authority and empowerment Organisational controls: Internal marketing and communication programs Ensuring organisation-wide customer orientationOutput controls (performance standards to be compared to marketing goals and objectives during and after the execution of the marketing plan) Overall performance standards (Specific standards will vary based on the goals and objectives of the marketing plan. Standards could be set in one or more of the following areas: sales in dollars, sales volume, market share, share of customer, profitability, customer satisfaction, satisfaction metrics, or customer relationship maintenance). List potential corrective actions that can be taken if actual performance does not meet these standards. Product performance standards (Standards could beset inoneor more of the following areas: product specifications, core product quality, supplemental product quality, experiential quality, new product innovation, branding, or positioning). List potential corrective actions that can be taken if actual product performance does not meet these standards. Price performance standards (Standards could be set in one or more of the following areas: revenue, supply/demand balance, price elasticity, yield management, or outcomes of pricing tactics and adjustments). List potential corrective actions that can be taken if actual pricing performance does not meet these standards.

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Distribution performance standards (Standards could be set in one or more of the following areas: effectiveness, efficiency, integration, value, collaboration, conflict, outsourcing, direct distribution). IMC (promotion) performance standards (Standards could be set in one or more of the following areas: communication objectives, awareness, brand recognition, brand recall, customer interest, campaign reach, frequency, and impressions, public relations effectiveness, sales effectiveness, sales promotion effectiveness). List potential corrective actions that can be taken if actual IMC performance does not meet these standards.Marketing audits Explain how marketing activities will be monitored. What are the specific profit- and time-based measures that will be used to monitor marketing activities? Describe the marketing audit to be performed, including the person(s) responsible for conducting the audit.

Criteria

HD (High Distinction) 80% - 100%

DN (Distinction) 70% - 79%

CR (Credit) 60% - 69%

PP (Pass) 50% - 59%

NN (Fail) 0% - 49%

Marketing Goals and Objectives 20%

The Marketing Goals and Objectives will conform entirely to the SMART framework, and logically account for all of the SWOT elements presented in the SWOT Analysis section.

The Marketing Goals and Objectives will conform largely to the SMART framework and logically account for most of the SWOT elements presented in the SWOT Analysis section.

The Marketing Goals and Objectives will conform to the SMART framework and will account for some of the SWOT elements presented in the SWOT Analysis section.

The Marketing Goals and Objectives will conform minimally to the SMART framework will account for some of the SWOT elements presented in the SWOT Analysis section.

The Marketing Goals and Objectives will be illogical and fail to for all of the SWOT elements presented in the SWOT Analysis.

Specific Marketing Strategies 30%

The Marketing Strategies will be logical, and provide a detailed account of all the steps needed to achieve the specific strategy effectively and efficiently.

The Marketing Strategies will be logical, and provide an account of all the steps needed to achieve the specific strategy effectively and efficiently.

The Marketing Strategies will be logical, and account for most of the steps needed to achieve the stated strategy effectively.

The Marketing Strategies will account for some of the steps needed to achieve the stated strategy.

The Marketing Strategies will fail to account for the steps necessary to achieve the stated strategy effectively.

Implementation and Control Program 30%

The Implementation and Control Program will detail the measures and the data sources required to complete the marketing management programme.The discussion will detail the questions to ask of the data to be collected in the process.

The Implementation and Control Program will detail most of the measures and the data sources required to complete the marketing management programme.The discussion will detail the questions to ask of the data to be collected in the process.

The Implementation and Control Program will discuss only some of the measures and data sources required to complete the marketing management programme.The discussion will include only broad questions to ask of the data to be collected in the process

The Implementation and Control Program will discuss only a few of the measures and the data sources required to complete the marketing management programme.The discussion will include unclear questions to ask of the data to be collected in the process.

The Implementation and Control Program fails to discuss the measures and the data sources required to complete the marketing management programme ion sufficient detail.The discussion will not include the questions to ask of the data to be collected in the process.

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Present a professional report; write logically and clearly; adhere to referencing style; acknowledge sources 20%

Very professional presentation style Written logically and clearly Acknowledged all sources Accurate and consistent referencing

Professional presentation style Well written and clear Acknowledged all sources Mostly accurate referencing

Better than average presentation style Quite well written Acknowledged most sources Mostly accurate referencing

Average presentation style Written poorly but adequately Acknowledged some sources Reasonably accurate referencing

Poor presentation style Incoherent writing No sources acknowledged Some referencing conventions followed