Assignment : Marketing Management
21 Pages3876 Words47 Views
Added on 2021-06-15
Assignment : Marketing Management
Added on 2021-06-15
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Running head: MARKETING MANAGEMENTMarketing ManagementName of studentName of UniversityAuthor note
1MARKETING MANAGEMENTExecutive summaryThe research proposal was created to analyze the various aspects of marketing and how the organization QMusic could influence the students of the Universities and schools to purchasethe membership packages. The goals were set by forming a mission statement and the marketing plan goals included focusing on the new musicians to take part in the awareness campaign and even focus on getting more individuals to avail the membership packages provided. The membership packages would benefit the individuals by providing them easy access to the company website, event discounts and application discounts as well. The use of SWOT and PESTLE frameworks helped to assess the external factors and internal factors affecting the business. A budgetary plan was prepared to demonstrate the costs that might be incurred during the management of QMusic awareness campaign. Lastly, the implications of non-financial resources were demonstrated here for deriving a good conclusion in the end.
2MARKETING MANAGEMENTTable of Contents1. Introduction..................................................................................................................................31.1 Report subject........................................................................................................................31.2 Limitations of the research.....................................................................................................31.3 Scope of report.......................................................................................................................32. Phase 1: Goal setting...................................................................................................................42.1 Mission statement..................................................................................................................42.2 Membership marketing plan goals.........................................................................................43. Phase 2: Situation review of QMUSIC membership...................................................................53.1 Current membership strategies...............................................................................................53.2 SWOT analysis......................................................................................................................53.3 PESTLE analysis....................................................................................................................73.4 Competitive positioning.........................................................................................................83.5 Issues to be addressed............................................................................................................94. Phase 3: Strategy formulation......................................................................................................94.1 Marketing objectives..............................................................................................................94.1.1 Overall Corporate Strategic Focus..................................................................................94.1.2 Specific Membership Focus............................................................................................94.2 Three Year Marketing Plan - Goals and Strategies (Positioning/Branding)..........................94.2.1 Product.............................................................................................................................94.2.2 Price...............................................................................................................................104.2.3 Promotion......................................................................................................................104.2.4 Place..............................................................................................................................104.2.5 People............................................................................................................................104.2.6 Process...........................................................................................................................10
3MARKETING MANAGEMENT4.2.7 Physical Evidence..........................................................................................................115. Phase 4: Resource allocation and monitoring............................................................................115.1 Budget..................................................................................................................................115.2 Non-financial Resource Implications...................................................................................155.3 Monitoring and Reviewing..................................................................................................156. Conclusion.................................................................................................................................157. Recommendations......................................................................................................................16References......................................................................................................................................17
4MARKETING MANAGEMENT1. IntroductionThe report is prepared to discuss about the various aspects of membership package ofQMUSIC in Australia. The main subject of the research is to determine the ways by which thestudents of High School, TAFE or University can be encouraged to become members and evenmanage a membership awareness campaign in South East Queensland. The report will alsodemonstrate the size of market available to QMusic among all these targeted market segments(qmusic.com.au, 2018). 1.1 Report subjectThe report subject will discuss how QMusic has aimed to influence the students of HighSchool, TAFE or University to become members and take part in BigSound festival. The reportsubject also outlines the identification of size of market from the targeted market segments alongwith membership campaigns developed to raise awareness among the students of these placesand influencing them to avail the membership packages offered by QMusic (Kotler, 2015). 1.2 Limitations of the researchThe limitations are knowledge gaps, literature gaps along with the time and costconstraints. There was time limitation, which could create difficulties in engaging the peoplealtogether and influence them to purchase the membership packages provided by theorganization. Due to lack of time, it might be difficult to gain in-depth analysis and obtainrelevant information required to conduct the research effectively.
5MARKETING MANAGEMENT1.3 Scope of reportThe research scope is quite good, it can help the researcher to understand the need ofQMusic, and ways by which the company can make the students of different universities andschools become members. The report will also cover the importance of becoming members ofQMusic and the ways by which the students from all these places can be influenced have beenconsidered within the scope of research (Armstrong et al., 2015). The information is to begathered from secondary sources including journals, articles, newspapers and websites fromwhich the necessary data and information will be gathered for preparing the report with ease andeffectiveness. 2. Phase 1: Goal setting2.1 Mission statementQMusic is one of the major music industry development associations in Queensland thathas transformed the music careers since the last 24 years. The mission statement is to advancethe artistic, cultural and economic value of the contemporary popular music in Queensland anddeliver maximum economic, social and cultural returns within the place (Keller & Kotler, 2016). 2.2 Membership marketing plan goalsThe membership marketing plan goals and objectives are to influence the students ofschools and Universities to become members of QMusic in Australia. There has been hugegrowth in economy ranging up to A$ 2.793 million and multiple programs that are arranged toattract the guests. The marketing goals and objectives also include helping the musicians andworkers obtain relevant knowledge and skills to become successful and at the same time, create
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