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Book/movie review
22/08/2022
Questions:
Task Description
The COVID-19 pandemic has impacted consumer behaviours more consumers are shopping online,and consumer shopping priorities have changed amid concerns about the economy and rising unemployment. In response, marketers are having to adapt to the changing nature of theinternal andexternal environment. They are reshaping their product offerings, looking for new segment opportunities, re-positioningtheir brands, and changingpricingand promotional strategies.
Students will work in groups of 5-6 students and build amarketing planfor a small to medium enterprise (SME) that operates in a B2C (consumer market) that has been commercially affected by COVID-19. Students may choose a company where they have a contact, or a business they think would be interesting to work on.When choosingthe firm,either pick a firm/brand that only sells a product or service ina single market (for illustration only, Netflix or Uber), or if they sell products across multiple markets then pick a single product/brand that the firm sells and focus on that specific product market (for illustration onlyas these are not SMEs, apple iPhones, not All Apple products).
The idea is that you are going to deliver a marketing plan that helps drive growth for your chosen business.For struggling Australian businesses,
the government has offered a $10,000 grant which you will spend wisely to implement your marketing plan.
The final marketing plan will be presented as a pre-recorded 10-minute video. Please note there is NO written submission.
Significant tutorial support will be dedicated to assist students develop a marketing plan that will deliver growth for the chosen firm.
Key presentation areasin the marketing plan:
1.IntroductionGive a brief introduction to the firm, and the market it operates in, and the key issues facing the brand.
2.Situational analysis The situational analysis identifies the internal and external environment to reveal the strengths, weaknesses, opportunities, and threats facing the firm. It asks the question, where are we today? It is from the situational analysis that marketers gain direction in setting objectives and strategies. Here you should be identifying the strengths that can be leveraged and the weaknesses of the company that can be overcome, along with the opportunities and threat revealed in the PESTEL and competitive analysis.The key findings from the situational analysis can be summarized into a SWOT.
3.Marketing objectivesIdentify clear marketing objectives that capitalise on the insights gained in the situational analysis to deliver growth for your firm.
4.Marketing strategyIn this section of the presentation you need to identify how the product market is segmented, who you are targeting and what is the positioning of your brand. You should be able to identifyunique segments of consumers, targeting one or more, with a clear positioning that is motivating to consumers yet differentiated from the competition.In this section of your presentation you will creatively demonstrate your proposed marketing mix strategies (product, price, promotion, and place)that will deliver against the objectives.If you focus on a service you will of course also introduce the remaining 3 Ps (people, process, and physical evidence). Some thought starter questions, among others that may be considered:Product:
Are you changing or modifying your product offering?
What is your proposed core product offering and how is it augmented?
What features and/or benefits differentiate your product from the competition?
What new products might meet newor emergingsegment needs?
Pricing
What is the revenue model? Will you change your business revenue model for pricing from transactional to subscription or some other alternative?
How will you price your product relative to competitors, cost based, customer expectation based?
Distribution
What are your channels of distribution?
Do these reflect your desired positioning?
Will you sell online?
Promotion
What message are you wanting to communicate to your target audience?
What is the best mix of media to deliver the message to your target audience given the limited budget?
How will you use social media?
Is there a role for sales promotion?
How will you integrate your media plan, so it works synergistically?
5.Implementation
As part of the implementation youonlyneed to show a visual representation of one(1)piece of creativity for your IMC plan, that reflects your brand positioning. That could be a web page, social media idea, online advertisement etc
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The writer is very fast, professional and responded to the review request fast also. Thank you.
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