Assignment Topic : Wedding Barn
Case:
Monica and Deliliah own a farm with a large barn in a picturesque valley close to Canberra, Australia. They have worked in hospitality and Monica is a trained chef and Del has experience in running large functions. They want to set up a wedding venue;
Required : Marketing Mix
This assignment has been separated in 2 parts:
- Situational Analysis
- Marketing Mix
The Situational analysis has already been doing. You are required to do the marketing mix to the same topic, Wedding in Canberra Australia. The region is limited to Canberra only. Assignment Topic : Wedding Barn
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Please read the Situational analysis assignment before doing the marketing mix. I have included the pointers that has been used for Situational Analysis which are useful links to look for information :
Marking Criteria For Marketing Mix :
- Price (including budget and breakeven where applicable) Pricing objectives, Demand, cost-fixed/variable, Break-even, Break-even chart, Justification for price setting (look at competitors, positioning) – 500 Words
- Marketing Mix Does take account target market. Marketing Mix is appropriate in the competitive environment. Marketing Mix is appropriate in the current and future uncontrollable environment. – 1000 words
There is a guidance to do the assignment :
| Marketing Mix pointers | |
| Target market/segmentation market – revisited
Use ABS Quickstats for quantification and Helix Persona or Vals or Roy Morgan- for behavioural variables. Need to differentiate from your competitors ( where are you different/ similar to their offering?
You can improve on your situation analysis part here |
Who is your target market
How many segments? Which ones are you targeting and why? Consumer or businesses? Consumers- donors What are the characteristics of your consumers/businesses ( if businesses- size, nature of ownership e.g. franchise) How many? http://www.roymorgan.com/products/values-segments http://www.abs.gov.au/websitedbs/censushome.nsf/home/quickstats http://www.helixpersonas.com.au/
How many competitors? Where are they located? Who is their target market? What is their mix ( keep it brief)
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| Marketing Mix strategy matches the situation analysis | The mix needs to refer to the situation analysis, for example your competitors and most importantly your target market, plus where relevant the other aspects of the uncontrollable environment- see above |
| Product strategy -product concept (p.222) – product differentiation (p. 235) -Positioning ( p. 209) – Branding (p. 237) – Packaging (p. 243) -Product life cycle implications (228) | Highlight how your product strategy will be superior compared to your competitors ( references can relate to the concepts you cover ( textbook) and to other sources,
References can also refer to your competitors offering. Use textbook ref. or consultant’s sites ( just as an idea): Packaging ideas: http://www.mckinsey.com/business-functions/operations/how-we-help-clients/reduce-packaging-costs How to manage product life cycle:
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| Pricing Strategy -Pricing objectives (p. 262) -Pricing methods (p 270) – Cost and revenue analysis including budget and break even (p.278) -Competition considerations (p. 284) -Pricing tactics (p. 296) -Discounts | Break- even point is here important! You need to know the basic costs (e.g. rent and wages ). It is not an accounting course – so we want to know how many customers per day/week/ month we need to buy/consume x to cover our variable and fixed costs. Do a break-even Chart to illustrate.
Discounts and competition consideration should also be discussed.
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| Research (Quantity, variety, quality) | Both textbook and other sources |
| Referencing | In text – Harvard or API ( not just a bibliography – it needs to be used in your writing |
| Presentation of report | Should look like a professional report- headings, nice cover page, page numbers , details of author, keep to page limit- cover page and references don’t count in page count. |
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