Reference no: EM132199780

Question: This learning checkpoint allows you to review your skills and knowledge in devising marketing strategies.

This learning checkpoint allows you to review your skills and knowledge in developing an organisation development plan.

Part A: 1. You work as the marketing manager for a Queensland island tourism resort. The site is 15 years old. Accommodation bookings from domestic and international customer segments have declined in the past six months, yet visitor numbers to the island have increased. What is the stage of the product's life cycle?

2. An alliance between a software manufacturer, a major sports league and a major television network is what type of alliance?

3. Define a ‘feasible' marketing plan.

4. Buzz Electronics is a retail store. It will discount the prices of some brands of televisions next month. Purchasers of those products will be offered instant sign-up to pay television network TV-ME with the first month of a 12-month subscription free. What is this pricing strategy best described as?

5. TV-ME's promotion through Buzz Electronics is one of several promotions TV-ME is running through retailers in Australia in the same month. What marketing metric could TV-ME use to find out how effective the subscription promotion has been with Buzz Electronics?

Part B: Read the case study, then answer the questions that follow.

Case study: Buzz Electronics competes with My-HiFi and Marvin Shorman, among other retailers. Its leading product category is electronic games and the leading item in this category is games consoles. This category brings in just over $2 million in sales revenue per annum. The primary customer segment for the category is males aged 20 to 45 years. The next largest customer segment for the category is females aged 20 to 25 years. The same product category and items (electronic games and games consoles) are sold in competitor stores.

1. What information is needed to identify marketing opportunities for the leading product category at Buzz Electronics?

2. Assuming that gaming is a global growth industry, what opportunities does Buzz Electronics have to build and retain profitable customer relationships? Consider broad-level marketing options and explain the reasons for your answer.

2. Plan marketing tactics: This learning checkpoint allows you to review your skills and knowledge in planning marketing tactics.

Part A: 1. The purpose of tactical planning is to improve the execution of which of the four Ps?

2. What is a tactical plan?

3. What kind of monitoring do marketing professionals who coordinate the execution of promotions need to do?

4. Avoiding cost overruns on promotion strategies requires marketing professionals to do what?

3. Prepare and present a marketing plan

This learning checkpoint allows you to review your skills and knowledge in preparing and presenting a marketing plan.

Part A: 1. The section of the marketing plan that explains how the marketing objectives will be achieved is
known as what?

2. The section of the marketing plan that puts a marketing strategy into context with the rest of the business is called what?

3. A marketing plan is usually prepared for a particular time period. What is this?

Part B: Read the two scenarios, choose one of them and then prepare a Word document or PowerPoint presentation outlining either the information you need to obtain (Scenario 1) or the research that you need to do (Scenario 2) in order to prepare a marketing plan. Your document must explain at least six different types of information that will be needed.

Scenario 1: Matrix Pharmacy is a retail store in a medium-sized shopping centre. It sells a number of product categories including infant products, beauty products, feminine hygiene products, nutritional products (vitamins), over-the-counter medicines and prescription-only pharmaceuticals. To date, the owner of the pharmacy, Mike Matrix, has not used a marketing plan. His store is adjacent to a medical clinic on the top floor of the centre, so many of his customers are patients from the clinic who buy prescriptions and other products. The retail prices for all his products are the recommended retail prices listed in the suppliers' product catalogues. Another pharmacy has just opened in the shopping centre. Mike needs to be more strategic about his business, so he hires you to review his business, and develop a marketing strategy.

1. What information do you need to obtain from Mike and/or other sources in order to do this?

Scenario 2: You have arranged to meet with a new client, Mr Regus, to discuss the information you need to obtain in order to prepare a marketing plan. Mr Regus is happy to meet with you, but he is frustrated that you have not already written the marketing plan.

2. How do you communicate with someone who does not understand the strategic marketing process and the amount of work that needs to be done to prepare an effective marketing plan?

Final assessment:

Purpose: You will demonstrate a sound knowledge of the unit requirements in your responses.

1. Describe five steps that you would take to develop a marketing mix that meets all the following requirements:

• Aligns with organisational objectives

• Is within the organisation's capability to implement

• Is feasible

Does not pose legal or ethical risks to the organisation

2. Marketing opportunities can be identified for products and services through analysis of four growth options. Name these options and briefly explain them.

3. If an organisation is struggling to gain a larger share of a market and has maximised its marketing resources, what other options does it have to generate new business?

4. You have prepared a marketing plan and will soon present it to stakeholders in your organisation. What are the possible areas of disagreement the stakeholders may have with your plan? List four possible issues.

5. Name four industry standards and/or laws that you must comply with when implementing marketing plans. Explain your answer with reference to an actual marketing plan (one from your organisation or one found from internet research).

6. You are the marketing manager and you have a new marketing assistant joining your team. Describe what information you need to communicate for the new assistant to understand:

• how the marketing department contributes to the organisation's business direction

• marketing strategies

• legal responsibilities of marketing and work procedures to ensure marketing activities are done ethically, legally and within the financial resources and human resource capabilities of the organisation.

7. Once a marketing plan has been approved, who in the organisation needs to receive a copy of the plan? How will you distribute the plan? Reference your own organisation or an organisation you are familiar with in your answer.

8. Name four tactics or mechanisms that a marketing team must use to ensure that promotions are implemented within organisational capability and without risk to the organisation.

9. Imagine that you work for a professional services firm. You have identified a marketing opportunity and requested a meeting with the managing partner to present your marketing plan. The managing partner does not believe marketing is an investment, so he takes some convincing to agree to marketing strategies. How would you approach the meeting so you can obtain approval for your marketing plan? Explain what you would communicate and how you would do so.

10. Explain the purpose of a work schedule. Briefly describe the information recorded in a work schedule and how you would go about preparing one.

11. What information is obtained or calculated to demonstrate the success of a marketing plan? Provide five examples.

12. You have been the head of a marketing department for three years. How will you demonstrate the team has continually improved outcomes? Consider all the ways the marketing team can verify that it contributes to organisational objectives. Include the type of information you would use as evidence of continuous improvement.

Information related to above question is enclosed below:

Attachment:- Assessment.rar