Objectives: • To enhance a clear understanding of the importance of marketing in modern business...

Question

Objectives: • To enhance a clear understanding of the importance of marketing in modern business practices; • To develop a succinct understanding about marketing theories and their application in devising marketing strategies; • To critically analyse all relevant factors affecting the exchange process; • To enable developing insightful marketing strategies for a business. How the assessment fits into the subject/course: Marketing in the 21st century has evolved profoundly where developing winning marketing strategies has been integral to businesses of all types in order to achieve its strategic objectives. This assessment provides students with the opportunity to apply the knowledge and insights developed in the marketing subject to develop effective marketing strategies for a business, a product or a brand. Students are required to develop a complete marketing plan for their chosen organisation's product or the brand which they worked in the Assessment 1. The emphasis within this assessment should be placed on expanding various steps as recommended in the marketing plan template while the current marketing situation and threats and opportunities analysis to be briefly discussed by summarising the discussion from the assessment 1.Instructions: This assessment task builds on the Situation Analysis that you undertook in Assessment 1. This assessment task requires you to expand the remaining steps of the marketing plan to: • Articulate your learning about marketing theories, concepts and principles covered in the course to demonstrate your level of understanding of them to develop a marketingplan; • Articulate the link between marketing theories and practices; • Demonstrate an acceptable level of research skills to reveal the insights; • Apply appropriate business report writing skills; • Demonstrate a logical flow and cohesiveness in the analysis and discussion. • Use the appropriate in text citation and a reference list in the end of your written work. You should provide at least 15 high quality marketing references to show quality of research. STRICTLY adhere to the APA style in referencing. Please see more information on referencing here: https://library.torrens.edu.au/academicskills/apa/tool Scenario: This assessment requires you to act like a consultant to help an organisation develop a winning marketing strategy that intends to introduce a new product or expand its business/markets. Tasks: This assessment is the continuation of your previous assessment of the Situation Analysis of your chosen organisation that you undertook in the assessment one. Therefore, you need to revisit your assessment 1 and the feedback from your facilitator. Then, develop a complete marketing plan for this assessment to: 1. Develop a marketing plan – The aspects that you should include are: a. Identify objectives and issues as well as marketing logic to create customer value; b. Segmentation, targeting and positioning as well as marketing mix strategies (i.e.,4ps/7ps); c. Action programmes - how marketing strategies will be turned into specific actions that answer What will be done? When will be done? Who will do it? and How much will it cost (budget )? and controls.
To start with this assessment - 2. Outline the following steps: a. Define clearly the value proposition of your chosen organisation, product or the brand; b. Critically evaluate the overall situation of the organisation (should be summarised from the assessment 1) and suggest appropriate marketing mix strategies: c. Product - define the product attributes/features to reflect your value propositions You are advised to review the threes levels that are accompanied with a product and discuss product line and mix strategies; d. Pricing – describe the pricing strategy (cost-based, value-based and competition) that you would recommend to the senior management of the organisation and justify your choice; e. Distribution – outline the distribution strategies, you should discuss a specific distribution strategy (s) - intensive, selective and exclusive. You also need to discuss channel strategies (i.e., direct and/or indirect, channel levels - single vs. multiple); f. Promotion – critically evaluate the promotion strategies you would recommend (i.e., pull vs. push). You also need to discuss promotional mix strategies (i.e., advertising, salesmanship, sale promotion, publicity and public relations) as well as media strategies. Please beware that your marketing strategies should be aligned with the key issues and objectives and/or value proposition, the organisation's mission and vision

mkt600assessment2marketing-plan-5nxlvsrk-vh4x2dsm.pdf

Swati · Accepted Answer

Marketing plan
Vestas Australia Wind Technology PTY LTD
Executive summary
Vestas Australia wind technology Pty ltd is one of the leading organization that offers sustainable energy solutions with focus towards the renewable energy resources. The organization has been in operation since 40 years with the business expansion across world covering 81 countries (www.vestas.com, 2020) claiming to install more turbines in comparison to any of the competitors. First turbine was installed by them in year 1999 in Australia where they supported the electricity production where as till then Australia was completely dependent on the diesel power station for electricity. Vestas has worked towards introduction of new wind turbines with advanced technology in order to reduce carbon dioxide around by percent by the year 2025 which is expected to reduce carbon dioxide emission to 100 percent by the year 2030. With the core focus towards the safe as well as social responsible environment for employees and all around the world, vestas is now working towards the zero wastes wind turbines which could be achieved by introducing new product in market that is recycling blades and hubs (EWEA, 2014). With the increase in competition and challenges with off shore turbines, the need of hour is to come up with a product that would bring change and value to the organization even more while making it global leader in sustainable energy solutions (Bloomberg Research, 2015a). This marketing plan thus details out core issues, objectives along with marketing logic of organization so as to create customer value followed by detailing out the value proposition of Vistas. The target customer, segmentation as well as distribution are well highlighted along with the marketing mix strategy with the help of 4 Ps of marketing mix. Lastly, this marketing plan lays out the implementation and action program for launching this new product into market which is recycling blades and hubs along with its financial aspect.
Table of content
	S.No
	Topic
	Page No.
	
	Executive summary
	2
	1.
	key issues and objectives and marketing logic to create customer value
	4
	2.
	Value proposition of Vestas Australia Wind Technology PTY LTD
	5
	3.
	Marketing plan strategy including market segmentation, targeting and positioning
	6
	4.
	Marketing mix strategies (4 Ps)
	8
	
	a. product
	8
	
	b. price
	8
	
	c. place
	8
	
	d. promotion
	9
	5.
	Action program
	9
	
	References
	13
1. Key issues and objectives and marketing logic to create customer value
Vestas wind technologies being one of leading wind turbines industries with vision to become global leader in sustainable energy has been successful since last 40 years. Organization has faced several threats and challenges over years and has overcome them with well laid strategic, marketing, business and management plans (MHI Vestas, 2018). Some of the key issues and objectives as faced by Vestas recently include the following on the basis of internal as well as external analysis-
1.1. Key issues:
First of all, the basic business of Vistas is all concerned about the energy delivery, thus the threat of substitutes from other such sources is huge in both dimensions, sustainable like hydro bases and solar solutions as well as from unsustainable source like gas, coal, oil etc. This is specifically because the energy cost is an ever daunting world for the customers, thus Vestas has been facing challenges to convince market about high upfront investment requirement from installation of the wind turbines to actually be productive form the point of business (Bloomberg Research, 2015a). 
Secondly, several firms across the world have started entering the industry of sustainable energy while offering quite cheaper wind turbine solutions in global market increasing competitive atmosphere for Vestas. It is amazing to see that Vestas now has disregarded this traditional threat as to see them as operating in high end innovative market more. It made this clear that to large extent consumers have started favoring these long term cost effective solutions rather than cutting edge technology (EWEA, 2014). 
Thirdly, financial crisis has been a great issue reflecting that organizations like Vestas are highly dependent on the large scale government orders to withstand financial issues. 
Another issues associated with the organization includes challenges in off shore turbines, increased competition, Changes in rules and regulations and need to depend on the climate conditions.
1.2. Objectives:
The internal, external as well as situational analysis of the organization shows that Vestas wind technology Pty ltd is more focuses towards the sustainable energy, quality improvement, waste reduction, safety as well as future project plans in order to be successful in market so as to maintain leading market position. Objectives of this marketing plan includes-
a. To launch new product that is recycling blades and hub in market.
b. To attain competitive advantage and edge over market with this innovative product.
c. To outshine with motive of zero waste while being the global leader in sustainable energy market.
1.3. Marketing logic:
Vestas believes strongly to offer better values towards better tomorrow which help this organization to shape up its actions while achieving goals. Simplicity, collaboration and the accountability are the mission statements of Vestas where it believes strongly that success could be defined by being accountable for all actions (MHI Vestas, 2018). The market of today’s world understands the environmental needs and launching a product that is recyclable, environment friendly and would enhance sustainability would surely appeal the customers even more (Abdul et al, 2018). This innovative product where Vestas invests in maintaining simplicity while reducing complexity by making solutions stand out and affordable in market would bring competitive advantage as well. Also, buyer behavior of customer is influenced by the marketing strategies thus a diverse support scheme for consumers such as digitalization and lifetime support would make huge difference in influencing buyer along with emphasizing the fact of being a zero waste product (EWEA, 2014).
2. Value proposition of Vestas Australia Wind Technology PTY LTD
Vesta’s group senior vice president as well as head of services has mentioned that wind market is expected to grow 8 to 9 percent exponentially every year around the globe (Venderby, 2018). There is need of developing strategies continuously for same along with the technological advancement so as to deliver world class energy solutions to globe that is core focus of Vestas to remain leading provider for same. Vestas has been serving customers by providing better wind work while harnessing several factors like low cost energy sources, safety, digitalization as well as lifetime partnership.

Objectives: • To enhance a clear understanding of the importance of marketing in modern business practices; • To develop a succinct understanding about marketing theories and their application in...

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