BMA351 Strategic Marketing Plan Assignment 2
BMA351 Marketing Management – Strategic Analysis Report
Overview
Using the same business idea (or modified idea) from assignment one, assignment two concentrates on your recommendations and what you think the organisation should do over the next 12 months. The strategic marketing plan focuses on the implementation aspect of the marketing plan. You need to ensure that each element of the marketing mix is integrated, and you need to calculate some of the financial impacts, such as the cost of promotion, and estimated revenue.
This is not an essay writing exercise. Students will be assessed on how well they have applied the concepts and theories (learnt in lectures, tutorials, and readings) to Assignment Two, and whether they have applied this knowledge appropriately, i.e., does the report demonstrate a good understanding of the relevant marketing principles?
The Tactical Plan
Assignment two focuses on the implementation aspect of the marketing plan for the next 12 months – the tactical plan. It needs to detail what marketing objectives, strategies, and programmes will be implemented. This assignment addresses the 4 Ps: Product, Price, Place and Promotion. You need to ensure that each element is integrated, i.e., the marketing mix needs to be consistent with your target market, marketing objectives, and positioning strategy.
Assignment Parameters
- You need to use the same business idea (or modified idea) from assignment one.
- You need to focus on the Australia market.
Word Limits and Formatting Guidelines[1]
The word limit for the marketing plan is 3,000 words (+/-10%). This limit excludes executive summary, table of contents, reference list, appendices and collateral material.
Note: the “Assignment Two Instructions” document follows the formatting guidelines. So before you submit your assignment, does it look similar in style to this document?
Assignment Two: Content
Your report should include the following sections.
4.1. Executive Summary
This provides an overview of the report, so the reader can quickly grasp what the objectives, main findings, and recommendations are. Your Executive Summary should include information about the business, the objectives of the report, and a summary of the key findings from your report.
An executive summary is aimed at senior management to enable them to grasp quickly the plan’s major thrust, its goals and recommendations. It should also highlight the key conclusions and findings.
This section can be single spaced but you must use 12 font Times New Roman.
4.2. Table of Contents
A Table of Contents provides some direction for the reader, and it always appears after the Executive Summary. You can use single spacing in this section.
4.3. Introduction
In this section you need to:
- Identify the purpose of the report.
- Include relevant background information on the company.
- Identify your product concept briefly and describe your target market.
4.4. Positioning Strategy
Discuss how you will position this product.
4.5. Financial and Marketing Objectives
This section details what you expect to achieve over the next 12 months with your new idea. Two main types of objectives need to be identified: financial objectives, e.g., how much revenue will be generated (what is your goal?), and marketing objectives. Objectives need to be S.M.A.R.T.
4.6. The Marketing Mix Programmes
This section focuses on the marketing mix, outlining the strategies, and objectives for each element of the mix.
4.6.1. Product
What are you offering? What are your product objectives? What kinds of product decisions do you need to make? What are your product’s key attributes?
4.6.2. Price
What is your pricing strategy? Pricing objectives? What prices have you set?
4.6.3. Place
Where will you distribute your products? What channels[1] will you use? What is your distribution strategy? What are your distribution objectives?
4.6.4. Promotion
What is your IMC strategy? What are your IMC objectives? What promotional tools will you use? How will you use these tools?
Discuss what promotional tools you will use, the rationale for using each tool, and what you hope to achieve. In the “Action Programmes” section, you will provide a schedule over the next 12 months. Do not discuss campaign ideas in this section. You will be given an opportunity to discuss a creative campaign idea in the “collateral materials” section.
4.7. Projected Marketing Expenses
Due to the difficulties of obtaining information, e.g., estimating variable costs and fixed costs for the product, you do not need to provide a Projected Profit & Loss statement. Instead, this section should include a marketing budget for the next 12 months. You need to provide a table which lists your marketing expenses (these need to be referenced – use a footnote referencing system). Itemise your promotion expenses in this section. Don’t forget to include all marketing expenses in this section.
Promotion expenses: This includes things such as banner advertising, media production costs (e.g. the production costs to produce a television commercial), graphic design costs, media buying costs (e.g. placing advertisements in newspapers, magazines, on TV, billboards, online, etc.), marketing collateral material (e.g. brochures, retail stands, posters, etc.), consumer samples, competitions, promotional teams, events, sponsorship, and so on.
Note for future reference: Normally one would provide a Projected Profit & Loss statement and conduct a breakeven analysis.
4.8. Evaluation and Controls
How will you monitor your financial, marketing and marketing mix objectives? Outline your objectives, and how each objective will be evaluated and measured.
4.9. Action Programmes – The Timeline
How will each element of the marketing mix be dealt with? What will be done? When will it be done? And how much will it cost (focus only on promotion costs)? Provide a schedule for the next 12 months. You may use Gantt chart.
4.10. Collateral material (not part of the word limit)
This section includes your promotional material. This can include advertisements, brochures, point-of-sale (POS) material, packaging if you are using creative packaging, sales promotion material, and trade promotion material (note: labels based on line extensions cannot be used as someone else has already developed this idea). One sample is required. This must be original work. If multiple samples are submitted, only the first one will be awarded marks. Attach this material at the end of your report.
You must describe your idea, what the purpose is, and how the idea will be delivered, i.e., what promotional tool will you use, and where will your consumer see it. The discussion should be at least half a page.
If you choose to include advertising examples – you could present a draft print advertisement, or a billboard advertisement, or a storyboard concept for a television commercial (TVC), etc. However, you should always consider the following things:
- Does it reflect the promotion objectives?
- Does it reach your target market?
- Will it appeal to your target market?
- Did you use the right cues?
- Have you used an IMC approach?
4.12. Reference list
Use Harvard referencing style for citations. This section can be single spaced but it must be 12 font, Times New Roman, 2.5 margins all side. A footnote system should be used for the marketing and promotion expenses.
4.13. Appendices (no more than 2 pages)
Only provide relevant tables and diagrams. Do not forget to label your appendices, and you should always refer to it within the body of the report.
Note: “channels” in a distribution context differs from “channels” in a promotion context.