MARK101: Principles of Marketing T2 – 2024Haskell

Java Python School of Marketing and International Business

MARK101: Principles of Marketing

T2 – 2024

The Marketing Plan

3,500 words

Due Date: Sunday 15 September 2024, 11:59pm NZST (35%)

1. The project

You are the marketing manager for Six Barrel Soda. You have been tasked to develop a new product for Six Barrel Soda and prepare a marketing plan. This product will be launched in New Zealand by July 2025. The target market is based in New Zealand. The lectures, tutorials and resources on Nuku MUST be used to complete this assignment. Refer to the Tutorial Information and Assignment Resource modules on Nuku for more information; information will be posted on these sites regularly.

You need to conduct research to identify a new product opportunity. Part of the marketing planning process involves identifying and justifying an appropriate opportunity for your organisation. Before doing this, you must understand the organisation's current product portfolio, its customers, competitors, and the market environment. Once a marketer has achieved this, it is their job to ensure the organisation can achieve its marketing goals. This assignment provides you with the opportunity to develop the necessary skills required to develop a marketing plan, and it provides you with an understanding of the strategic marketing planning process.

2. Assignment parameters

You need to prepare a 3,500-word marketing plan (the word count excludes the Cover Page, Title Page, Table of Contents, Competitive Analysis Grid, examples of Marketing Communications, Controls table, Reference List, and Appendices).

• You can interview family members, friends, and work colleagues, but do not contact organisations, or conduct primary research, e.g., do not conduct surveys.

•    Develop a product for the New Zealand domestic market, i.e., you need to target a segment living in New Zealand.

•   The new product needs to be something Six Barrel Soda would consider launching. The product idea needs to be supported by the situational analysis.

•    It should be a tangible product and not a service.

•    Do not copy an existing product. You can be inspired by existing products, but you need to create a product that is different from your competitors.

• You must attach a completed MARK101 cover sheet to your assignment. This is available on Nuku.

Formatting Requirements

The report should be presented professionally, in a manner in which you would be proud to show a future employer.

•   The first page of this project should be a MARK101 cover page (refer to Nuku for a template).

•   The second page is your own “Title Page” (refer to the example of Nuku).

•   The third page is a formatted Table of Contents.

•    Margins need to be 2.5cm.

•    Fonts need to look professional. Use Times New Roman font for the main body of the report.

•   Single spacing.

•    Include page numbers.

•    Refer to the Assignment Resources module on Nuku for more guidance.

The structure of the report and allocation of marks

MARK101 Cover Page	Excluded from the word count
Title Page	Excluded from the word count
Table of Contents	Excluded from the word count
Introduction	100 words approx.	5 marks
Brand identity	Infographic (approx. 300 words)	10 marks
Situational Analysis	1,300 words	25 marks
TOWS analysis	300 words approx.	10 marks
Recommendations	300 words approx.	10 marks
Marketing Strategies & Tactics (and Controls)	1,200 words	30 marks
Controls	Excluded from the word count
Reference List	Excluded from the word count
Appendices	Excluded from the word count
10 marks have been allocated for grammar, structure, professionalism, overall impression.

3. The Marketing Plan

Your report should include the following sections.

3.1. Table of Contents

A Table of Contents provides some direction for the reader when reports are longer than eight pages.

Refer to the “How to create a Table of Contents” in the Assignment Resources module on Nuku.

3.2. Introduction

This section needs to identify the brand, the  purpose of the report, the new product idea, the launch date, and the report’s limitations and assumptions.

Refer to the Assignment Resources module on Nuku.

3.3. Brand identity

A brand identity is created by marketers to differentiate their brand and brand image is the interpretation of these elements by the consumer. You should analyse the brand identity of Six Barrel Soda by collecting marketing information. You then need to create an infographic, which describes your brand’s identity. This should include the five factors of brand identity.

Refer to Lecture 1 and the Tutorial 1 Guide on Nuku.

3.4. Situational Analysis

Before one can develop a marketing strategy and tactical plan, a situational analysis MARK101: Principles of Marketing T2 – 2024Haskell  needs to be conducted. This involves gathering and analysing quality information. A situational analysis is made up of several components. It provides background data on the macro environment, industry, customers, and the competition. These parts are detailed below.

(NOTE: it is important to remember that conducting a situational analysis is not a linear process. Although the report is set out in a linear manner, the actual process is not. For instance,you might begin with a quick environmental scan (to identify new opportunities) before conducting a product analysis. After that you might consider potential target markets, then conduct a more in-depth macroenvironment analysis, which may lead you to revisit your target market, and soon.)

3.4.1. Macroenvironment Analysis

Scan the macro environment for new product opportunities. Macroenvironmental factors such as demographic, cultural, technological, natural, political, and economic may drive new  product ideas. What potential opportunities emerge? Potential threats? You need to identify the most relevant macroenvironmental factors that support your product idea but may also threaten its success.

Refer to the Tutorial 2 Guide on Nuku.

3.4.2. Customer Analysis

Who are your potential customers? Who is the decision-maker? How, when, what, and why do they buy these types of products, and brands? Use customer reports and your interview  to analyse the customers.

NOTE: the transcript. of the interview should be placed in the appendix of your assignment

Refer to the Tutorial 3 Guide on Nuku.

3.4.3. Product Market Analysis

This section focuses on the industry that your new product idea is competing in. Do not discuss your product idea in this section, but you need to conduct research on this product  market. What are the current demand trends in your product market, e.g., are sales for this product increasing or decreasing? Have buying patterns for this product changed over the past few years in this product market? What is the size of the product market? What changes have taken place in this product market? Have you identified the correct product market?

Refer to the Assignment Resources module on Nuku.

3.4.4. Competitive Analysis

Who are your competitors? For the purpose of this assignment, identify three key competitors. You need to ensure your competitors reflect your target market and product- market. Include a Competitive Analysis Grid (Refer to Image 1) and provide a brief discussion. The table should be single spaced, 10 font. Is Six Barrel Soda the market leader or only a small player?  What are Six Barrel Soda’s strengths and weaknesses in comparison to    their competitors? The Grid is excluded from the word count.

Image 1: An Example of the Competitive Analysis Grid from the Tutorial Guide

Refer to the Tutorial 3 Guide.

3.4.5. Channels & Logistics Analysis

Where is your product distributed? What distribution channels do your competitors use? Potential geographic locations?

3.5. Threats & Opportunities Analysis

Create a table (refer to Image 2). For Threats and Opportunities, identify 4 relevant factors. For Weaknesses and Strengths identify 2-3 relevant factors.

Refer to the Tutorial 4 Guide.

External environment (Macroenvironment analysis, product market analysis, distribution analysis, customer analysis, competitive analysis)

NOTE: it is important to consider the likely impact of the threats and opportunities.

Internal analysis (Assess this in relation to your competitors as a starting point, also review current practice)

Image 2: An example of the TOWs Analysis table from the Tutorial guide

3.6. Recommendations

You need to state your overarching recommendation for a new product and the segment you will target. A summary of key findings pertaining to the situational analysis should be used to support your product idea. (NOTE: do not discuss strategy and tactics here).

3.7. Marketing Strategies & Tactics

This part of the assignment focuses on the commercialisation phase of the new product. This is where you will outline your marketing objectives, target market, positioning, and marketing mix programmes. The period for the marketing plan is 12 months. You need to   ensure that each element of the marketing mix is integrated, i.e., the marketing mix needs to be consistent with your target market, marketing objectives, positioning, and brand

identity.

3.7.1. Marketing Objectives

This section details what you expect to achieve over the next 12 months with your new product idea. Identify your marketing objectives. Do not confuse marketing objectives with the marketing mix objectives. Objectives need to be S.M.A.R.T.

3.7.2. Target Market

This section describes your target market in detail. You need to choose a segment to target. Use appropriate segmenting bases,e.g., demographics, and/or geographic, or lifestyle, etc.  You are focusing on the New Zealand domestic market, so your target market needs to live   in New Zealand.

3.7.3. Positioning

Create a positioning map. How will your product be positioned in the minds of your customers in relation to your competitors’ products? You need to identify more than three competitors for the positioning map. You also need to identify meaningful and relevant attributes. Do not use price and quality as your positioning map dimensions. Briefly explain why this positioning will be used based on your situational analysis.

Refer to the Tutorial 4 Guide on Nuku.

3.7.4. The Marketing Mix Programmes

This section focuses on the marketing mix, outlining the strategies, objectives, and justifications for each element of the mix. The timeframe. is 12 months. This section should not rely on AI (such as CHTGPT) and must use the MARK 101 lecture and course content.

Things to consider: Does this reflect your target market and brand identity?

1.   Product Programme

•   What are your product objectives?

•   What is your product idea?

•   What are your product’s value propositions?

•   What are your product’sattributes?

•    Illustrate your design decisions using a mood board, e.g., packaging.

2.   Pricing Programme

•   What are your pricing objectives?

•   What is your pricing strategy? Justify.

•   What RRP do you recommend and why?

3. Marketing Communication programme

•   What are your marketing communication objectives?

•   What marketing communication tools will you use? Justify.

•   What scheduling strategy will you use and why? Include the Campaign Timeline.

•    Briefly discuss your creative concept for the campaign.

•    Provide two promotional material examples. You must include at least two “creative” elements – i.e., animage, drawing, photo to provide an idea of what you have in mind.

4. Distribution programme

•   What are your distribution objectives?

•   What distribution strategy will you use?

•   Where will you distribute your products? Justify.

•   What channels will you use? What channel system will you use? Why?

Refer to the Tutorial 5 and 6 Guides on Nuku