Reference no: EM132220317 , Length: word count:2000

Assignment -

Overview - For the group project, students will be required to prepare a marketing plan that marketers use to develop and articulate their strategies.

The purpose of the group project is to provide students with an opportunity to develop a marketing plan for a selected group of consumers based on the Roy Morgan Value Segments (RMVSs).

Group Report (The Marketing Plan) -

Each group will be required to submit a written report of no more than 3500 words not including appendices. Your tutor will facilitate the assignment of a Roy Morgan Values Segment (the Segment) to your group.

Your group will be allocated one segment from the Roy Morgan Value Segments in order to develop a marketing plan which will cover the following components:

• Choose a new product in the market (or develop your own) to be targeted to this group of consumers justifying the need of the product in line with the profile of the group and the micro- & macro-environment that the brand is operating within. The "newness" of a product should be viewed from the targeted Segment's perspective. You must get your tutor's approval for your selected product before you begin your marketing plan.
• The product you choose doesn't need to be one that's brand new to the (whole) market, just new to your allocated segment. For example; Fair Trade clothing to the "Real Conservatism" segment. It is not recommended that a service type product be chosen for this assessment. Try to focus on a tangible offering.
• Develop a marketing launch strategy on behalf of the chosen company for the new product targeting the chosen RMVS, and covering all elements of the marketing mix (4Ps: Product, Promotion, Price, Place/distribution), including the overall marketing objective(s) you want to achieve.

Your project should address the following key issues:

• An analysis of the profile of the selected Segment highlighting key factors that influence their behaviour.
• Demonstration of how relevant micro- and macro-environmental forces might impact on the Segment's behaviour and demand potential for the new product.
• A detailed outline of the marketing strategy (using the marketing mix) to be implemented for the new product in achieving your marketing objective(s).
• A demonstration of how your suggested marketing strategy using the marketing mix for your new product is responsive to the selected Segment's needs.

Attachment:- Assignment Files.rar