a) Critically evaluate underpinning marketing theories and principles and appropriate research process to collect, store and use of data to generate customer insights

MKTG6002/MKT600 Marketing
Assessment 2 Marketing Plan
Individual/Group Individual
Length 3000 words (+/- 10% excluding cover page, reference etc).
Learning Outcomes This assessment addresses the following subject learning outcomes:
a) Critically evaluate underpinning marketing theories and principles and appropriate research process to collect, store and use of data to generate customer insights;
b) Critically evaluate customer needs to create value for customers by deploying the resources of the organisation in best possible ways;
c) Critically evaluate the impact of an organisation’s marketingmix strategies on its stakeholders.
Submission For 12 weeks deliver – due on Friday at 11:55 pm (AEST/AEDT) by the end of week 10.
For 6 weeks (intensive) delivery – due on Friday at 11: 55 pm (AEST/AEDT) by the end of the week 5.
Weighting 50%
Total Marks 50 marks
Objectives:
• To enhance a clear understanding of the importance of marketing in modern business practices;
• To develop a succinct understanding about marketing theories and their application in devising marketing strategies;
• To critically analyse all relevant factors affecting the exchange process;
• To enable developing insightful marketing strategies for a business.
How the assessment fits into the subject/course:
Marketing in the 21st century has evolved profoundly where developing winning marketing strategies has been integral to businesses of all types in order to achieve its strategic objectives. This assessment provides students with the opportunity to apply the knowledge and insights developed in the marketing subject to develop effective marketing strategies for a business, a product or a brand. Students are required to develop a complete marketing plan for their chosen organisation’s product or the brand which they worked in the Assessment 1. The emphasis within this assessment should be placed on expanding various steps as recommended in the marketing plan template while the current marketing situation and threats and opportunities analysis to be briefly discussed by summarising the discussion from the assessment 1.
MKT600/ MKTG6002 _Assessment2_Marketing Plan Page 1 of 7
Linkages between Assessments 1 and 2:
This assessment is the continuation of the assessment 1 therefore you should continue to work on the same organisation. In assessment 1 you have addressed two (i.e. current marketing situation and threats and opportunity analysis) out of the eight steps of a marketing plan. In this assessment you are required to develop a complete marketing plan for an organisation’s product or a brand of their choice. Since the assessment 1 and 2 are interrelated so students in any situation are not advised to change their organisation that they chose in the assessment 1.
Instructions:
This assessment task builds on the Situation Analysis that you undertook in Assessment 1. This assessment task requires you to expand the remaining steps of the marketing plan to:
• Articulate your learning about marketing theories, concepts and principles covered in the course to demonstrate your level of understanding of them to develop a
marketing plan;
• Articulate the link between marketing theories and practices;
• Demonstrate an acceptable level of research skills to reveal the insights;
• Apply appropriate business report writing skills;
• Demonstrate a logical flow and cohesiveness in the analysis and discussion.
• Use the appropriate in text citation and a reference list in the end of your written work. You should provide at least 15 high quality marketing references to show quality of research. STRICTLY adhere to the APA style in referencing. Please see more information on referencing here: https://library.torrens.edu.au/academicskills/apa/tool
Scenario:
This assessment requires you to act like a consultant to help an organisation develop a winning
marketing strategy that intends to introduce a new product or expand its business/markets.
Tasks:
This assessment is the continuation of your previous assessment of the Situation Analysis of your chosen organisation that you undertook in the assessment one. Therefore, you need to revisit your assessment 1 and the feedback from your facilitator. Then, develop a complete marketing plan for this assessment to:
1. Develop a marketing plan – The aspects that you should include are:
a. Identify objectives and issues as well as marketing logic to create customer value;
b. Segmentation, targeting and positioning as well as marketing mix strategies (i.e., 4ps/7ps);
c. Action programmes – how marketing strategies will be turned into specific actions that answer What will be done? When will be done? Who will do it? and How much will it cost (budget )? and controls.
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To start with this assessment –
2. Outline the following steps:
a. Define clearly the value proposition of your chosen organisation, product or the brand;
b. Critically evaluate the overall situation of the organisation (should be summarised from the assessment 1) and suggest appropriate marketing mix strategies:
c. Product – define the product attributes/features to reflect your value propositions
You are advised to review the threes levels that are accompanied with a product and discuss product line and mix strategies;
d. Pricing – describe the pricing strategy (cost-based, value-based and competition) that you would recommend to the senior management of the organisation and justify your choice;
e. Distribution – outline the distribution strategies, you should discuss a specific distribution strategy (s) – intensive, selective and exclusive. You also need to discuss channel strategies (i.e., direct and/or indirect, channel levels – single vs. multiple);
f. Promotion – critically evaluate the promotion strategies you would recommend (i.e., pull vs. push). You also need to discuss promotional mix strategies (i.e., advertising, salesmanship, sale promotion, publicity and public relations) as well as media strategies. Please beware that your marketing strategies should be aligned with the key issues and objectives and/or value proposition, the organisation’s mission and vision. Submission Instructions:
Submit your assignment via the Assessment two link in the main navigation menu in the Blackboard in MKT600/MKTG6002. Your Learning Facilitator will announce the specific due day, date and time for the submission. Please review the TUA overdue policy described in page 3, that applies a 10% deduction/day up to five days and then 0, through the link copied below:
https://learn-ap-southeast-2-prod-fleet01-xythos.s3-ap- southeast-2.amazonaws.com/5c07149a959f5/4332951?response-content-disposition=inline%3B% 20filename%2A%3DUTF-8%27%27TUA%2520PL_AC_004%2520Assessment%2520Policy%2520for% 2520Higher%2520Education%2520Coursework%2520and%2520ELICOS.pdf&response-content- type=application%2Fpdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Date=20190420T020849Z&X-
Amz-SignedHeaders=host&X-Amz-Expires=21600&X-Amz-
Credential=AKIAIW5OVFIUOTV36DNA%2F20190420%2Fap-southeast-2%2Fs3%2Faws4_request&X-Amz-
Signature=43e06ce9d0c1a38ba5e189c2c7c1e7510afe6a62311985d4e454f15e8b9d1a63
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Learning Rubric: Assessment 2
Assessment Fail (Unacceptable) Pass
(Functional)
50-64% Credit
(Proficient) 65-74% Distinction
(Advanced)
75 -84% High Distinction
(Exceptional)
85-100%
Attributes 0-49%
Evaluation of information gathered to support the marketing plan
10%
Limited understanding of key concepts required to
support discussion
Confuses logic and emotion. Information taken from reliable sources but without a comprehensive analysis or synthesis.
Viewpoints of experts are taken as fact with little questioning. Resembles a recall or summary of key ideas.
Often conflates/confuses assertion of personal opinion with information substantiated by evidence from the research/course materials.
Analysis and evaluation do not reflect expert judgement, intellectual independence, rigor and Supports personal opinion and information substantiated by evidence from the research/course materials.
Information is taken from 15+ with a demonstrable capacity to explain and apply relevant concepts.
Demonstrate logical flows throughout the discussion.
Differentiates between assertion of personal opinion and information substantiated by robust evidence from the
Research/course materials sources and extended reading.
Information is taken from 20+ sources with a well- demonstrated capacity to explain and apply relevant concepts. Systematically and critically discriminates between assertion of personal opinion and information substantiated by robust evidence from the research/course materials and extended reading.
Information is taken from 30+ sources with a high level of
interpretation/evaluation to develop a
adaptability. Viewpoint of experts are comprehensive critical
subject to questioning. analysis or synthesis.
Analysis and evaluation
Identifies gaps in
reflect growing judgement, knowledge.
intellectual independence, rigor and adaptability.
Exhibits intellectual independence, rigor, good
judgement and adaptability.
Report structure/format Report structure/format Report structure/format was Report structure/format Report structure/format
Logical and Compelling was not consistent with was professional and professional, original and was very professional, was highly professional,
Report Structure Industry original and was adequately consistent with Industry original and consistent with original and consistent with
practices/standards consistent with Industry practices/standards Industry Industry
20% practices/standards practices/standards practices/standards.
MKT600/MKTG6002_Assessment2_Marketing Plan of
MKT600/MKTG6002_Assessment2_Marketing Plan of
20% theories from the theories from the subject. theories from the theories from the
subject. subject.
Description of at least subject. subject.
Description of market Description of at least two market segments Description of at least Description of three or
segments not one market segments provided. three market segments more market segments
provided. provided.
Some efforts to provided. provided.
No efforts to Very little efforts to substantiate the target Target market has Target market has been
substantiate the substantiate the target market. been substantiate. substantiated
target market. market.
A good value proposition
A well-stated value comprehensively.
Value proposition is A satisfactory value differentiating the proposition A sophisticated value
vague. proposition provided. business from the differentiating the proposition
competitors. business from the differentiating the
Little or no A satisfactory competitors. business from the
justification of the justification of the A good justification of competitors.
positioning strategy positioning strategy the positioning strategy A very good
reflecting little or no reflecting the links to reflecting the links to the justification of the Comprehensive
link to the entire the entire analysis. entire analysis. positioning strategy justification of the
analysis. reflecting the links to positioning strategy
The strategy for The strategy for the entire analysis. reflecting the links to
The strategy for competitive advantage competitive advantage is the entire analysis.
competitive advantage is satisfactory. sensible. The strategy for
doesn’t make sense. competitive advantage The strategy for
is sensible.
competitive advantage is sensible and well argued.
Limited synthesis and Demonstrated analysis Well-developed analysis Thoroughly developed and Highly sophisticated and
Critically evaluates analysis. and synthesis of new and synthesis of new with creative analysis of new creative analysis of new
the impact of the with existing existing knowledge in with existing knowledge with existing knowledge
application of Strategy ideas knowledge in evaluating the application and synthesis in in evaluating the
MKT600/MKTG6002_Assessment2_Marketing Plan of
marketing mix (the
4Ps/7ps of marketing) to stakeholders presented fail to have a foundation in the market analysis. evaluating the application of marketing mix to the of marketing mix to the target market.
evaluating the application of marketing mix to the target market. application of marketing mix to the target market.
30%
target market.
Presents interesting strategy ideas that have
Presents and succinctly Presents and succinctly discusses
Presents strategy ideas a good foundation in the discusses sensible & concise, sensible &
Marketing mix that have a foundation market analysis. interesting strategy interesting strategy
variables have not in the market analysis. ideas that have a very ideas that have a solid
been outlined good foundation in the foundation in the
clearly.
Marketing mix
Marketing mix variables market analysis. market analysis.
variables have been have been outlined. Marketing mix
outlined. However, However, they reflect Marketing mix variables reflect core
they do not reflect the unclear connection to variables reflect core marketing strategies
link to the core the core strategies. marketing strategies to to form one intact
strategies.
form one intact strategy. strategy.
Demonstrates limited Demonstrates adequate Demonstrates consistent Demonstrates an Consistently
Formulates effective awareness of context awareness of context awareness of context advanced and integrated demonstrates a
and innovative and/or purpose of the and/or purpose of the and/or purpose of the understanding of context systematic and critical
recommendations assignment and/or the assignment and/or the assignment and/or the and/or purpose of the understanding of context
that are justifiable specific client’s need. specific client’s need. specific client’s need. assignment and/or the and purpose of the
specific client’s need. assignment and/or the
20 % Fails to provide Provides standard, Provides good specific client’s need.
recommendations that straightforward or recommendations that Provides advanced
are reasonable and/or obvious reflect skilful analysis and recommendations Provides expert
applicable to the recommendations only. some original thinking. that reflect well recommendations that
organisation. developed analysis reflect sophisticated
and original thinking.
analysis, original thinking and creativity.
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