BSBMKG514 Aussie Toy Company: Marketing Implementation & Monitoring

This report presents a comprehensive marketing implementation and monitoring plan for The Aussie Toy Company Ltd, a leading toy manufacturer and distributor. It includes a detailed implementation plan focusing on the marketing mix elements (Product, Price, Place, Promotion) for a new product, the 'Softy face kido mask,' outlining specific actions, responsibilities, costs, and timelines. The report also discusses methods for monitoring each element of the marketing mix, emphasizing the importance of benchmarking, segmentation, targeting, positioning, and promotional tactics. Finally, it provides recommendations for improving the selling process, collaborating with marketing influencers, evaluating market segments, and utilizing internet marketing strategies to enhance the company's overall market position. This document is available on Desklib, a platform offering a wide range of study resources for students.

Implement and monitor marketing
activities

Assessment 2 Task 1 b.
Example of an implementation plan for your toy – what, how, who, how much, by when
Basis
WHAT How Who How much By When
(specific
date)
Product
Company is about to launch
the " Softy face kido mask"
This mask is primarily
designed for the types with
their appropriate sizes and
colors.
In terms of product plan, the
company wants to implement
a Quality plan and a
Differentiation strategy.
The business packages its goods in an
appealing manner in order to attract
customers.
The company may utilize the site to give
product specifications and other
information so that consumers are aware
of the new product.
The
manufacturing
agency and the
production
manager are in
charge.
Manager of
marketing
Website
manager
25 hours with
$55.68 per hour
(25*55.68 =
$1392)
16 hours with $
53.85 per hour
(16*53.85 =
$861.6)
9 hours with $
58.65 per hour
(9*58.65 =
$527.65)
20
September
30
October
15
November
PPrice
For the "Softy face kido
mask” company can adopt
market penetration pricing
strategy.
The organization may set a budget and
long - term economic associated with the
manufacture and production.
Financial
manager
21 hours with $
65.88 per hour
(21*65.88 =
8
November
2021

At first, the business will
provide suitable deals and
promotions in order to
attract more consumers and
gain a competitive edge.
The firm established a
reasonable pricing for the
launch of a new product so
that people could readily
acquire it.
The firm must evaluate its rivals' pricing
strategies in order to properly plan its
own price strategy and get a competitive
edge.
Website
manager
$1383.48)
18 hours with $
58.65 per hour
(18*58.65 =
$1055.7)
21
November
2021
oPlace Company can choose
exclusive and online
ordering distribution
strategy.
Company can adopt wholesaler, retailer,
direct to customer sale.
Supply and
distribution
manager
10 hours
With $81 per
hour
(10*81 =$810)
25
September
2021
o
oPromotion Promotion for company can
adopt social media
marketing, electronic media,
and promotion on websites.
For promotional purposes, company
can utilize social media platforms like
Facebook, Instagram, YouTube,
Twitter.
Traditional marketing methods such as
newspapers, magazines, and banners
can also be used to advertise a new
product.
Marketing
manager,
Sales manager
Advertising
manager
12 hours with $
53.85 per hour
(12*53.85 =
$646.2)
15 hours with $
79 per hour
(15*79 = $1185)
18 hours with
$62 per hours
(18*62 = $1116)
15
November
2021
13
November
2021
16
November
2021
Total cost=
$8977.63

Task 2
Describe how you would monitor each element of the marketing mix activities
The Aussie Toy Company can use a variety of techniques to monitor and analyses each marketing mix element, such as comparing competitors,
determining target segmentation, selecting the best digital marketing technique, and utilizing a performance indicators ( KPIs) matrix to determine the
current performance of their product (Brennan, Canning and McDowell,2020). For their new product, manager can monitor each and every task
through controlling techniques.
The Australian Toy Company can use a benchmarking tool to monitor its plan, in which it will define the objective or standard it wants to reach
and then compare its plan to actual results in order to track its marketing mix parts.
Segmentation - Existing and potential customers belong to specific market groups or segments and are characterized by their "demand". Identifying
these groups and their needs through market research and market reports, and then meeting these needs more successfully than their competitors should
be one of the key elements of their marketing strategy.
Targeting and positioning - They need to develop a marketing strategy to maximize its benefits and tailor it to the needs of the customers that they
want to target.
Promotional tactics - There are many ways to achieve this goal that including various forms of advertising, exhibitions, public relations, digital
marketing, and effective "point of sale" strategies. Try to limit your activities to those methods that you think are most suitable for their target market
to avoid overspreading your budget.

Task 3
Recommendation
As per the above discussion about the Aussie Toy Company, some specific recommendations are as follows: To improve the selling process, the firm
must develop a plan and identify target market. To improve the selling and marketing activity, company should start collaborating with the marketing
influencers so that they can effectively evolve the product recognition and promotional activities (Linh, 2018). To successfully manage marketing
activities, the firm must evaluate market segments and generalization the overall market position. Internet marketing, email campaigns, and sponsored
media promotion are all necessary for a business to succeed.