Produce a marketing plan for a small business in Sydney. The choice of business is up to you. It may be a retail outlet, a manufacturer or a service provider. You will not need any information from this business to undertake the assessment, as it is up to you to provide a marketing plan for the business based on any assumptions that you make (these assumptions must be clearly identified).
Your marketing plan will be assessed on the structure and content (relevance of strategies and tactics). Utilise at least one strategy matrix (e.g. SWOT, Ansoff) in your plan. Be sure, wherever possible, to justify the decisions that you make. Follow the Marketing plan format taught to you in class.
The plan, excluding any tables or diagrams that you have used, should be approximately two thousand (2000) words.
After the research, you should be able to find a marketing opportunity option which may include:
· cooperative ventures
· extending, expanding or changing an existing business
· joint ventures,
· new businesses,
· new products or services for existing markets
· new products or services for new markets
· strategic alliances
· potential for greater penetration of existing markets with existing products and services
· take-overs etc
Your research proposal must outline the current situation of your business and the market which will then help you to develop the appropriate marketing strategies in order to achieve your marketing goal. Information concerning your product/company, market and general demographic and trend data, etc., should be based on real-world numbers and data when possible. You will not always be able to obtain concrete numbers and that is okay. The project should focus on the central strategic issues. If you make any assumptions, clearly state them and explain why you are making them.
Complete your Marketing research on the “Template” provided in the following pages. Students are allowed to use any other template but are required to address the following tasks. It is not mandatory to follow the sequence of the template as well.
1) Evaluate marketing opportunity options that address organisational objectives, and evaluate their risks and returns in the selection process.
2) Ensure marketing plan meets organisational, as well as marketing, objectives and incorporates marketing approaches and a strategic marketing mix.
3) Ensure marketing plan contains a rationale for objectives and information that supports the choice of strategies and tactics.
4) Develop marketing strategies that address strengths and opportunities within the organisation’s projected capabilities and resources.
5) Develop strategies which increase resources or organisational expertise where gaps exist between current capability and marketing objectives.
6) Develop feasible marketing strategies and communicate reasons that justifies their selection.
7) Ensure strategies align with organisation’s strategic direction.
8) Develop a marketing performance review strategy, incorporating appropriate marketing metrics to review of organisational performance against marketing objectives.
9) Detail tactics to implement each marketing strategy in terms of scheduling, costing, accountabilities and persons responsible.
10) Ensure tactics are achievable within organisation’s projected capabilities and budget.
11) Ensure tactics provide for ongoing review of performance against objectives and budgets, and allow marketing targets to be adjusted if necessary.
12) Identify coordination and monitoring mechanisms for scheduled activities.
13) Adjust marketing plan in response to feedback from key stakeholders and disseminate for implementation within the required timeframe.
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