BUMAN3008
Marketing for Managers Workshop on Group Project
Dr. Helen Song-Turner
CRICOS Provider No. 00103D CRICOS Provider No. 00103D

What we’re doing today…
• Assessment 2 – Have you contacted your group members yet? • Marketing Strategy + Plan
• Marketing Ethics
IMPORTANT DATES:
AT2 (group assignment): Due on week 11 (Oct. 22nd Oral Presentation, Written Report on Week 12). AT3 (individual assignment): Releasing on week 12
Assessment 2
• Assessment criteria of the Business report (Oral Presentation (10%) and Final Written Report (30%, length: 3000 words)
• In most businesses, marketing managers are primarily responsible for keeping the company close to customers.
• All those directly responsible for identifying, reaching, and satisfying customers are engaged in marketing, and everybody in a business needs to understand its activities in the marketplace.
• The purpose of this assignment aims to assess your written, verbal, and communication abilities in a group situation and demonstrate your understanding of the strategic marketing process concerning critical concepts discussed in weeks 1- 4.
• This assignment requires you to integrate marketing theory and company activities to demonstrate an understanding of the nature and purpose of marketing by examining how companies create, deliver and capture value to compete effectively in the market.
Assessment 2
• As an account executive for a marketing consulting firm, your newest client is a university, that is, your university (you need permission from your lecturer if you are going to study at a different university). Or a business of your choice.
• You have been asked to develop a positioning strategy and marketing plan for the university or business. • With your team, develop an outline of your ideas, including the following:
a. Who are your competitors?
b. What are the competitors’ positions?
c. What target markets are most attractive to the university?
d. How will you position the university/business for those segments relative to the competition?
Assessment 2
• To start with, it is highly recommended that you research the university/business by examining documents, literature, brochures, advertisements, and websites and conducting interviews with appropriate university/business officials.
• Examine their main competitors’ competitive websites for an idea of what they are doing.
• Next, you are required to appraise potential target markets for the university/business. The Admissions Office is an excellent place for you to begin the checking.
• Should the university/business continue its present strategy, reposition, or devise a new approach?
• As a consulting team, you must write and present an innovative marketing plan for your client.
Assessment 2
• The case study group size is three to four
• Each student in the group must contribute to the presentation. • Note: A peer evaluation sheet will be used to moderate your grade for this assessment task. The lecturer reserves the right the interpretation of how the peer assessment result will be used.
• As a team, it is important that all group members participate actively in developing the presentation and final report.
• While each group member will prepare and present a part of the presentation, as a team you need to ensure that all parts of the presentation and final report are integrated and not repetitive.
Assessment 2
Organising your group, you need to decide:
• When, where and how many times to meet
• What information to include in the presentation
• Your presentation approach (eg, PowerPoint or any other display aids) • The order of presentation and responsibility of each member
Your responsibilities as a group member
• Research and prepare your allocated tasks within the group responsible sections of the task
• Prepare questions/answers for discussion as a group prior to the meeting • Contribute to the presentation and the writing of the report
Marketing Plans
• Refer to Appendix 1
• Executive Summary
• 1 page
• Highlight context and key points
• What’s the difference between
• Marketing Strategy
• Marketing Plan
Executive
summary
Current
marketing
situation
Threats and opportunities analysis
Objectives and issues
Marketing
strategy
Action
programs
Budgets
Controls
Strategy: It all starts with the bigger picture

Defining a market-oriented mission
A statement of the organisation’s purpose – what it wants to accomplish in the larger environment
Company-wide strategic planning

Marketing Plans – analysing current portfolio
The Boston
Consulting
Group
Approach
Problems with
matrix
approaches

Marketing Plans
Developing strategies for growth and downsizing

Marketing Strategy foundations
Current Marketing Situation
• Where are you now? Based on analysis
• Refer to page 628 of the textbook – this is
a summary based on using some analytical
tools.
• Describe the market including the
identification of the major target segment,
customer needs and corresponding
benefit for the segments.
• List the key features of the organisation’s
product
• List three main competitors, include their
market position and key strategies.
• (Remember: competitors don’t need the
same basic product to be a competitor –
think substitutes)
Marketing Plans
Objectives
• List three key objectives and identify one major issue that may affect the outcome for each of the objectives.
• Ensure that you use the SMART principle for your objectives (specific, measurable, achievable, relevant and timely).
See page 633 for example – you need to be able to clearly identify whether you have met your objectives
Marketing Plans
Marketing Strategy
• Positioning
• Product strategy
• Pricing strategy
• Promotion strategy
• Placement (Distribution) strategy
• Marketing communications strategy
Marketing Plans – Internal Audit/ research

Marketing Plans – Internal Audit/ research
• SWOT – SW are internal factors, OT are external factors

Strengths, examples
• manufacturing operating capacity • skilled staff
• availability of financial capital • managerial skills
• ownership of patents
• modern/scalable production • favourable social status
Weaknesses, examples
• militant unionism
• inflexible staff
• physical location of operations • no capacity to expand
• negligible barriers to entry • poor supply chain management

Marketing Plans – Internal Audit/ research
• SWOT – SW are internal factors, OT are external factors

Opportunities, examples
• knowledge of demographic trends • booming economy (or market segment)
• changes in government legislation freeing up markets
• falling price of inputs
• greater level of online merchandising • consolidation of supply chain participants
Threats, examples
• Product competition purely based on price • Consumers becoming less brand loyal • Greater global supply of competing products
• Lack of access to key national infrastructure • uncertainty regarding future government subsidies or tax levies
• poor community attitude to the general product type

Marketing Plan
• Market research and competitor analysis

Marketing Plan
• Market research and competitor analysis
• What are some ways to research
• online
• offline
• What is the difference between
• Primary research
• Secondary research
• What is the difference between
• quantitative
• qualitative
Marketing Plan – Research
General

External Analysis
• Macro-environmental (PESTEL)
• Micro-environmental
(Porter’s 5 Forces, Competitor Analysis, Positioning)
Industry
CompetitiveOrganisation

Marketing Plan – Positioning

Marketing Plans – 4P Model
Marketing Strategy
• Positioning
• Product strategy
• Pricing strategy
• Promotion strategy
• Placement (Distribution) strategy
• Marketing communications strategy
Marketing Plans – Extended 7Ps
People
Processes
Physical
evidence
Marketing Plans – Price
The term “pricing strategy” encompasses all the methods a business owner uses to determine how much to charge for a product or service.
– Base it on market research
• Penetration Pricing – launch at a low price point to get traction, then increase the price over time
• Competitive Pricing – similar to above, try to win customers from competitors through low prices
• Skimming – launch at a high price point (recoup development costs), then gradually reduce price eg, Digital television started out at over $10k
• Premium – price high to promote prestige, e.g.: Mercedes
Marketing Plans – Promotion
IMC (Integrated Marketing Campaign)

Marketing Plans

Marketing Plans
Action Plan
• State four key actions that must happen:
• Now
• In 6 months and
• In 12 months
• Include a timeframe for each action
Marketing Plans
Controls
• How will you ensure the plan is on track?
• List two tests that you will use to establish your product’s success, profit margins, and sustainability
Marketing Plans
Budget and Profit & Loss
Estimates for:
• one year and
• five years
Marketing Plans
Contingency planning:
• Include how and why your marketing plan will be successful
• How to identify whether your expectations are being me
• What action will be taken if plans are not met
Conclusion: sum up key points, follow the structure of your assignment – logical flow
Marketing Ethics
• Product safety management
• Planned obsolescence
• Fair pricing strategies
• Ethical product promotion
• Social responsibility
• Privacy
• Advertising content and message
• PR disaster management