Assignment Solution: BSBMKG609 - Develop a Marketing Plan (Aspire)

This assignment solution for BSBMKG609, focusing on developing a marketing plan, presents a comprehensive analysis of various marketing concepts. It begins by exploring product life cycles, specifically addressing a decline stage for a tourism resort. The solution delves into different alliance types, defines a feasible marketing plan, and examines pricing strategies like bundle pricing. It also explores marketing metrics to assess the effectiveness of promotional activities, using the example of TV-ME's promotion through Buzz Electronics. The assignment includes a case study on Buzz Electronics, identifying marketing opportunities and strategies for building customer relationships. Furthermore, it covers tactical planning, emphasizing the importance of monitoring and cost control. Finally, the solution addresses the key components of a marketing plan, including the marketing mix and the integration of marketing strategies within the broader business context, using scenarios to determine necessary information gathering for a marketing plan.

Student Name:Arshdeep singh
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BSBMKG609 – Develop a Marketing Plan
Student Name: Arshdeep singh
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BSBMGT615 Contribute to organisation development, Release 1 – Assessments
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First published August 2015
ISBN 978 1 74349-989 4
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Students are only to complete Learning checkpoint question when directed by their trainer
Learning checkpoint 1
Devise marketing strategies
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
organization 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?
There are four stages in a life-cycle of a business. The stage at which Queensland island tourism
resort has reached is the decline stage. This is because, at this stage the sales volumes start
declining despite growth in the industry. After fifteen years of operations, Queensland island
tourism has already undergone the four stages of introduction, growth, maturity and decline.
At this stage where sales have declined for the past six months and the maturity stage had
come to an end and hence decline stage had set in.
2. An alliance between a software manufacturer, a major sports league and a major television
network is what type of alliance?
This type of alliance of is known as intersectional alliance. In this type of alliancecompanies that are
not in the same line of business or industry or vertically relatedand come together to form an
alliance1. The firms have completely different markets and know how?
1.Don Debelak, Streetwise Marketing Plan (Holbrook, Mass.: Adams Media, 2000).
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3. Define a ‘feasible’ marketing plan.
A marketing plan is a plan of action that is practical and achievable to help market a product or a
service in a particular market segment2.In addition to this, a feasible marketing plan must be
supported with the necessary resources of the organization. A feasible market plan combines the
four P`s of marketing in such a manner that it is able to achieve the objectives of the organization.
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?
Bundle pricing strategy is the method of pricing used by Buzz Electronics. This is strategy
focuses on captive products accompanying core products3. The captive product in this case
is the subscription of TV-ME while the core product is the TV. Once a customer uses TV-ME
for the first time, it will be highly unlikely that they will switch to another product and hence
contributing to increased future revenues.
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?
In order to determine the effectiveness of the subscription promotion, TV-ME needs to find
the percentage increase in Buzz Electronics sales. It is done by determining the new sales
volumes after introducing the promotion less the sales before the beginning of the
promotion and then multiplied by 100. This help TV-ME determine whether or not the
promotion has met the target.
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2.Phani Tej Adidam, Sampada Gajre and Shubhra Kejriwal, "Cross Cultural Competitive‐
Intelligence Strategies", Marketing Intelligence & Planning 27, no. 5 (2009): 666-680.
3.Georgios Tsimonis and Sergios Dimitriadis, "Brand Strategies In Social Media", Marketing
Intelligence & Planning 32, no. 3 (2014): 328-344.
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?
In order to identify the market opportunities for electronics games made by Buzz Electronic, the
company needs to carry out market research to determine geographic areas where the
competitors have not exploited in terms of distribution4. Buzz electronics can also target a
different market segment such as that of kids in order to exploit the opportunities in the market.
The company also needs to determine, unmet demand for male and female buyers, buyer
motivations competitor pricing and competitor value propositions.
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.
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In order to retain a profitable customer relationship, Buzz Electronics needs to keep innovating and
differentiating products.
4.Y. Petit, "Advancing Project And Portfolio Management Research: Applying Strategic
Management Theories", Strategic Direction 28, no. 9 (2012).
Learning checkpoint 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?
The purpose of a tactical plan is to improve the execution of promotion aspect of the four P`s of
marketing. A tactical plan elaborates the strategies and tactics a business will use to promote its
products in different market segments.
6. What is a tactical plan?
A tactical plan is a set of steps and actions required to achieve a goal listed in a strategic plan.
7. What kind of monitoring do marketing professionals who coordinate the execution of
promotions need to do?
Marketing professionals coordinating execution of marketing promotion need to monitor the
effectiveness of the message carried through various promotion methods. They need to
continuously access whether the method had achieved objectives in order to cut on cost of
promotion and focus on appropriate areas.marketing professionals also need to monitor messages
to legal and ethical breaches. He also ensures that the advertising standards are met.
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8. Avoiding cost overruns on promotion strategies requires marketing professionals to do what?
Marketing professionals should focus on promoting products through methods that are cheap
but effective. Marketing professionals should also understand the timing when they should
terminate the messages in order to keep the costs low. Preparation of work schedules,hiring
suppliers and having a having a legal officer to offer legal guidance related to marketing.It is also
important to get approval from the manager before distributing the materials in the market.
5.John McGee, Strategic Management (Chichester: Wiley, 2014).
Learning checkpoint 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?
The section of the marketing plan that explains how the marketing objectives will be achieved is
known as the marketing mix. The product benefits, product price, placement of the product,
promotion mix, people and processes all contribute to the achievement of the marketing objectives.
2. The section of the marketing plan that puts a marketing strategy into context with the rest of
the business is called what?
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The section of the marketing plan that puts a marketing strategy into context with the rest of the
business is called the mission, vision and current situation. The marketing strategy is linked to
organisational objectives and current business strategy. The goals and objectives of the organization
have to be aligned with the strategy of the company.
9. A marketing plan is usually prepared for a particular time period. What is this?
A marketing plan for a company should be for a financial year which is at least 12 months period
and utmost 3 years. This is because there are many changes in the internal and external
environment of the business that needs to be addressed in the marketing plan6.
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.
6.Fred R David and Forest R David, Strategic Management, n.d.
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
catalogue`s. 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?
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In order to develop marketing strategies, Mike needs to obtain information concerning the
following7:
The sales volumes of the business for the last five years
Profit margins made by the company?
Products offered by Matrix Pharmacy.
The details of product differentiation
What are the prices that Matrix Pharmacy sells to customers?
What are the products being offered by the competitor and which pricing strategy does he
use?
The promotional methods used by the competitors.
What are the goals and objectives of the company?
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.
7.Tatjana Mamula, "Role Of Marketing Metrics In Strategic Brand Management", Marketing
43, no. 1 (2012): 49-61.
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?
Answer:
A communication approach that is best understood by Mr Regus is used. This involves the use of simple language and
non-verbal cues that will ensure that the intended message reaches the recipient. Simple marketing terms that Mr
Regus understands needs to be used. I would also ensure that I give Mr Regus a chance to express himself and to give
information that is needed to be included in the plan and how the plan needs to be prepared in order to meet the goals
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and objectives of the company. A lot of market research will need to be done in order to understand the market and the
competitors. This will be instrumental in designing strategies that are focused on countering those of the competitors
and also which are in line with the company objectives. New opportunities in the market needs to be identified and
ways of exploiting these opportunities will need to be identified in earnest. The challenges that are expected during the
implementation period also have to be identified and this explains why preparing the marketing plan takes considerable
amount of time.
8.Mitsuru Kodama, "Boundaries Innovation Through Knowledge Convergence-Developing
Triad Strategic Communities", Technology Analysis & Strategic Management (2017): 1-16.
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Final assessment
How to work through this final assessment
This final assessment is designed to assess your performance of competency for the unit
BSBMGT615 Contribute to organisation development, Release 1. Your assessor or workplace
supervisor will help you fully understand assessment requirements for this unit.
The features of this final assessment are detailed in the following table.
Feature of the assessment
resource
Explanation
Assessment information
and scope
This section provides details of the unit of competency covered, setting out
information about the aims of the unit, what areas are covered, how the
assessment tasks must be completed and how the assessment is conducted.
Are you ready for
assessment?
This section provides you with the opportunity to self-assess your performance,
to ensure that you are ready to commence the assessment process.
Final assessment overview This section provides an outline of the final assessment tasks to be covered,
including options available.
Assessment plan You can confirm exactly which tasks and options you will complete using the
assessment plan. Your assessor will discuss the various options with you and may
also customise the assessment tasks to suit specific requirements where needed.
Final assessment tasks This section outlines the final assessment tasks in detail, including the relevant
documentation you need to complete and submit along with your final
assessment tasks.
Record of outcome As you progress through the final assessment tasks, your assessor will use the
record of outcome to confirm your performance and provide relevant advice and
feedback.
Further information
Before you commence your final assessment tasks, you should review the information provided by
your training organisation about assessment. You should not commence your final assessment tasks
until you have read and understood this information.
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Assessment information and scope
Who is the final
assessment designed for?
The final assessment is designed for candidates to demonstrate their competency
having completed formal learning experiences in this unit. Candidates may be in a
real or simulated workplace environment. Candidates may be undertaking the
unit in a range of learning situations, including private study, via a traineeship
arrangement or via other workplace-supported means.
What are the aims of the
final assessment tasks?
This unit describes the skills and knowledge required to contribute to the creation
of an organisation development plan which ensures that the organisation will
become more effective over time in achieving its goals. It applies to individuals
with organisation wide responsibilities who are critically involved in shaping and
focussing the organisation to that it can adapt to new technologies, challenges
and markets.
The key outcomes are:
• Develop organisation development plan
• Implement organisation development activities
• Maintain organisation development program
Prerequisites and
co-requisites
None
Legislative and licensing
requirements
No licensing, legislative or certification requirements apply to this unit at the time
of publication.
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