BSBMKG609 Marketing Plan: Assessment Event 1 and 2 Report Analysis

This document presents a comprehensive marketing plan developed for the BSBMKG609 unit, focusing on assessment events 1 and 2. The report begins by outlining common marketing opportunity options, providing explanations and real-world examples of strategic alliances, new product development, market penetration, and takeovers, along with franchising. It then delves into marketing strategies, detailing social media marketing, search engine marketing (SEM), co-branding, and direct selling, each explained with examples. The report further explores marketing approaches, including product, functional, institutional, and management approaches, providing explanations and examples for each. Finally, the report outlines processes to ensure alignment of marketing strategies with organizational objectives, as well as ensuring that these strategies are legal, ethical, and achievable. The plan incorporates various tactics and strategies to analyze the marketing mix and other aspects for a comprehensive approach.

Develop a Marketing
Plan

ASSESSMENT EVENT 1 – Knowledge Questions...........................................................................2
Question 1.........................................................................................................................................2
Question 2.........................................................................................................................................5
Question 3.........................................................................................................................................8
Question 4.......................................................................................................................................10
Question 5.......................................................................................................................................11
ASSESSMENT EVENT 2: Emu Fitness Simulation.......................................................................14
TASK 1: Devise Marketing strategies..............................................................................................14
1.1 Evaluate marketing opportunity options..............................................................................14
1.2 Develop marketing strategies that address strengths and opportunities.....................................16
1.3 Develop strategies to close gap between capabilities and marketing objectives........................16
1.4 Develop feasible marketing strategies and justify their selection...............................................17
1.5 Develop a marketing performance review strategy....................................................................19
Task 2: Plan Marketing Tactics.......................................................................................................19
2.1 Develop a Tactical Marketing Plan to implement each marketing strategy...............................19
2.2 Ensure tactics are achievable.....................................................................................................19
2.3 Ensure tactics meet legal and ethical requirements....................................................................19
REFERENCES..................................................................................................................................21

ASSESSMENT EVENT 1 – Knowledge Questions
Question 1
In the table below, outline common marketing opportunity options used in organizations.
R 1. explain each marketing opportunity option
R 2. provide an example on how an organization can gain advantage from each option
R 3. word count is approximately 100 words per opportunity.
Marketing Opportunities Explanation Example
Strategic alliances
A strategic alliance can
be defined as an
arrangement between
two companies
wherein they undertake
a project independently
that is mutually
beneficial (Bala and
Verma, 2018). They
allow a firm to gain a
new client base and
enter new business
territories. Also, a
strategic alliance can
be referred to as an
affordable alternative
to mergers or
acquisitions.
One of the examples
for a strategic alliance
that was successful, is
between Ford and
Eddie Bauer. The
vehicles included
premium leather seats
along with other
luxury features. One
of the main selling
points was that the
vehicles filled a niche
market that was
previously held by
foreign automakers.
The company gained
an advantage as there
was an increase in the
overall client base.
New products or services to target
specific markets
Rather than trying to
reach out to a
completely new
market, a brand
reaches out to a target
market in order to
H&M has launched its
“Conscious
Collection” of clothes
that are made using
materials that are
environment friendly

Marketing Opportunities Explanation Example
connect with its
customers in a more
efficient way. An
organization can target
specific markets based
on age, gender,
education,
demographics etc.
when a new product or
service is launched.
and would not cause
any kind of harm to it
(Chernev, 2020).
These products are
particularly targeted
towards people who
are conscious about
the environment and
look out for products
that are sustainable.
Greater penetration with existing
products or services
This opportunity
involves focussing on
selling existing
products or services
within an existing
market in order to gain
a higher market share
(De Pelsmacker, Van
Tilburg and Holthof,
2018). An organization
can improve its
existing products in
order to gain a
competitive advantage
against competitors.
They can even adjust
the prices of their
existing products in
order to attract a
greater number of
customers which will
lead to an increase in
Under Armour, an
America-based
company that
manufactures
footwear, casual and
sports apparel can b
cited as an example of
market penetration
strategy as it
constantly focussed on
selling clothing,
accessories and
footwear for sports
(Firmansyah and et.
al., 2020). It was able
to gain an increased
share in the existing
market.

Marketing Opportunities Explanation Example
the overall market
share.
Take-overs
A takeover is a
marketing opportunity
wherein an
organization makes a
successful bid in order
to acquire another
company. A takeover
is usually performed
through either a merger
or an acquisition
(Gustafson, Sharrow
and Short, 2017).
There are different
types of takeovers like
hostile, friendly and
backflip. Advantages
of a takeover strategy
include an increase in
the overall profit and
market share.
An example of a take-
over opportunity is the
multinational
telecommunications
company, AT&T
taking over BellSouth
in the year 2006.
Another example is
Vodafone Air Touch
taking over
Mannesmann, a
German telephony and
internet company. The
American Gas and Oil
company Exxon
taking over Mobil can
also be included as an
example for the
respective strategy.
New business via franchising The market
opportunity of
franchising is based on
the marketing concept
that can be adopted by
an organization in
order to expand its
business. There are
many benefits of
expanding business
Major examples of
franchising include
McDonalds, Pizza Hut
and Burger King. All
of the three are
business format
franchises, wherein a
company expands its
business by supplying
business owners that

Marketing Opportunities Explanation Example
through franchising
like there is a better
management of the
business and the rate of
expansion is also faster
involving less costs.
work independently,
with an already
established business.
Examples of
manufacturing
franchises include
Coca Cola, wherein
the company sells the
syrup concentrate to
another company that
mixes the two and
seels in the market.
Question 2
In the table below, outline common marketing strategies used in organizations.
R 1. list four strategies
R 2. explain each strategy
R 3. provide an example on how an organization can undertake each strategy
R 4. word count is approximately 100 words per strategy.
Strategy Explanation Example
Social Media Marketing This is one of the most
common marketing strategies
that organizations use in
order to attract a greater
number of customers
(Hanlon, 2019). The strategy
mainly focuses on providing
the users with valuable
content that they would want
to share across their social
networks. This leads to an
In order to undertake the
social media marketing
strategy, an organization
should fist set social
marketing goals ad
objectives that are
meaningful. Next, it should
research about the target
audience and analyse the
performance of competitors.
This will help it in
developing strategies to

increased visibility on
various social media
platforms like Facebook,
Instagram, Twitter and
YouTube.
create content that is far
more appealing as well as
engaging as compared to
other companies.
Search Engine Marketing SEM can be defined as the
practice of marketing a
particular business by
making use of paid
advertisements. The
advertisements appear on the
search engine paid results
(Hollensen, 2019). Search
engine marketing helps in
generating traffic to the
website of the organization.
A higher rank on the search
engine means that a greater
number of customers will
visit the website and might
even recommend the
products to others as well.
In order to undertake the
strategy of search engine
marketing, an organization
should define an effective
strategy. Once this is done,
it should choose best
keywords and phrases so
that when customers search
for them, they are direct to
its website. The next step is
to attract quality links to the
website and manage return
on investment driven paid
search campaign.
Co-branding Co-branding can be defined
as the marketing strategy that
involves making use of
multiple brand names on a
product or service as a part of
a strategic alliance (Kwarso,
2017). There are various
advantages of co-branding
that involve sharing of risk,
increase in the overall sales,
benefits relating to
If a company wants to
implement the marketing
strategy of co-branding, it
should choose its partner
very carefully. After doing
so, the companies should
roll out a product that is co-
branded by both the
companies. This should be
done before promoting the
products. This will allow the

technology, better product
image and a wider scope
because of advertising
jointly.
marketplace to get used to
the same.
Direct Selling It can be defined as the
marketing strategy wherein
the products are sold directly
to the consumers. Benefits of
the same include an
opportunity for the customers
to try the products and test
them (McCollough and
Shook, 2017). Also, they get
personalised products being
delivered at home. The
buying hours are flexible
which means that the
customers can buy the
products anytime they want.
In order to undertake this
strategy, an organization
should mainly focus on
building and growing
relationships with new as
well as existing customers.
Also, the company should
identify their needs and
develop products that match
the same. For example, a
company can develop strong
relationships with its
customers by offering them
various discounts and offers.
Question 3
In the table below, outline common marketing approaches used in organizations.
R 1. list four approaches
R 2. explain each approach
R 3. provide an example on how an organization can undertake each approach
R 4. word count is approximately 100 words per approach.
Approach Explanation Example
Product Approach In this particular marketing
approach, the primary focus
is placed on the product in
the market. Problems relating
In this approach of
marketing, an
organization should
identify the product that it
wants to market among

to nay product is studied in
detail and covers products of
different nature (Perreault,
2018). This approach of
marketing involves a lot of
time and is also repetitive.
The situation of marketing of
each of the products is
examined from different
point of views like sources of
supply, marketing policies,
middlemen etc.
the customers. Next, its
various aspects are studied
and examined based on
their effectiveness. For
example, if the product is
wheat, the organization
will have to study its
various sources, people
who are involved in the
buying and selling of rice
etc.
Functional Approach The functional approach of
marketing includes the study
of various activities that are
performed during the process
of marketing of products as
well as services (Saura,
Palos-Sánchez and Cerdá
Suárez, 2017). The approach
helps in analysing each
function. The various
functions of marketing
include buying, transporting,
selling, market information
etc. By studying each of the
marketing functions
effectively, an organization
can understanding marketing
in an effective manner.
In order to undertake the
functional approach of
marketing, an
organization should study
its various functions.
These can include selling
of the product, buying it,
its transportation etc. This
helps in understanding the
importance of each
approach but this
approach does not explain
how these functions are
implemented to different
business processes.
Institutional Approach In this particular approach of
marketing, the main focus is
on the different institutions,
To undertake this
approach of marketing, an
organization should focus

which include retailers,
wholesalers, middlemen,
suppliers, exporters etc. All
these are engaged in the
marketing of products during
their movement. This
particular approach is also
known as middlemen
approach.
on the people who are
involved in the movement
of products from the
manufacturer to the final
customers. The company
should also focus on
various processes like
transporting, warehousing,
advertisements etc.
Management Approach The management approach of
marketing focuses on the role
of decision-making process
within the firm (Sumarwan,
2019). This is because it is
mainly associated with how
managers handle certain
situations and problems
within the organization. It
aims to evaluate the current
market practice in order to
achieve marketing objectives
and goals.
If an organization
undertakes this particular
approach of marketing, it
will analyse how
managers address various
situations in order to
achieve the marketing
objectives effectively.
This is because the
approach is majorly
concerned with the
practical aspects of
marketing. It will also
help in identifying the
different controllable as
well as uncontrollable
factors like advertising,
personal selling, social as
well as political forces.
Question 4
Explain processes to ensure marketing strategies, approaches, and marketing mix align to
organizational objectives and are legal, ethical, and achievable.

R 1. explain a process to ensure marketing strategies, approaches, and mix align to
organizational objectives
R 2. explain a process to ensure marketing strategies, approaches, and mix are legal and
ethical
R 3. explain a process to ensure marketing strategies, approaches, and mix are achievable
R 4. word count is approximately 150 words per process.
In order to ensure that the marketing strategies, approaches as well as marketing mix
of an organization are aligned to its objectives, a company should develop SMART
objectives. This means that the objectives should be specific, measurable, attainable, realistic
and time bound. Setting SMART objectives can help the organization in attaining its goals
effectively. The company can make use of a marketing plan which can guide it to conduct its
different business activities in an efficient manner. It can also help in promoting the products
and services so that the needs of the customers are satisfied (Sumarwan, 2019). In order to
ensure that marketing mix is aligned with the organizational objectives, the marketers of the
organization should set the prices of the product by taking into account various factors like
gender, age, education, income levels etc. Implementing a marketing plan can be one of the
processes that will also allow the company to track overall progress.
In order to ensure that that the marketing strategies of the organization meet all the
legal requirements, one of the marketers can consult a lawyer or the legal department of the
firm regarding the same. The marketing plan of the company can be get reviewed and help
identify any mistakes or errors. This will help in reducing any amount of errors and satisfying
the needs of the customers effective. For example, if the company develops a marketing plan
for a product that is going to be offered to the customers to some different geographic
location, it will have to make sure that the different product features meet the different ethical
as well as legal requirements in order to avoid any delays in respect of different countries.
For example, the different products can include food and beverages. They should contain all
the important information relating to ingredients and other aspects as well.
In order to make sure that the strategies, approaches as well as the mix are achievable,
it is very important to set goals that are measurable (Bala and Verma, 2018). This will help
the company in tracking the overall progress of the complete process and if results are being
obtained for the goals that were previously set. If an organization has a marketing plan and it
has set goals regarding how would it spend on advertising through various channels, it should

measure the overall reach of the campaign and set the goals directly linked to the profits.
Also, having goals that are measurable, allows conducting the different business processes
smoothly. This will allow the company to achieve its goals and objectives more effectively
along with an increase in the sales and profitability. Therefore, this is one of the process in
which the company can ensure that marketing strategies, mix and approaches are achievable.
Question 5
In the table below, outline the legislative and regulatory context of an organization relevant to
a marketing plan.
R 1. list five current legislations, two codes, and two standards affecting marketing plans:
 correctly write the name and date of each item
 summarize the key provisions on marketing plans
 attach reference URL
R 2. word count is approximately 50 words per summary.
Legislation/Codes/Standards Summary of Key Provisions
1. Australian Consumer Law
and Marketing
Communications
The primary role of this legislation is to ensure that the
marketing plans that are developed by different
organizations are ethical and protect the consumers. It
also ensures that fair trading takes place within the
company and other businesses. Besides this, it also
promotes healthy competition among the firms and
enhance the overall welfare of consumers.
2. Australian Consumer Law
(ACL)
This legislation was implemented in the year 2010 and is
primarily based on the Competition and Consumer Act
2010, which was previously named as the Trade
Practices Act 1974. This is a national law in Australia in
order to protect the consumers (Australian Consumer
Law, 2020). This includes providing a bill to the
customers, provide them with are fund if the product
does not meet the guarantee.
3. Privacy Act 1988 This is an Australian legislation that deals with privacy
of individuals and it was implemented on 12th March