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Marketing plan Marketing plan BSBMKG609 Develop a marketing plan Session 1 Assessment Resource – PPT – BSBMKG609 – Develop a marketing plan V 1.0: May 2019, Approved: QAC, Next Review: December 2019 International College of Tasmania Pty Ltd trading as: TasCollege RTO Code: 45352 | CRICOS Code: 03683K Purpose of this presentation At the end of this session, you should know how to: ⚫review marketing principles ⚫determine the format of the marketing plan ⚫review marketing objectives ⚫identify marketing opportunities ⚫analyse marketing opportunities. Marketing principles The marketing process: ⚫situation analysis ⚫marketing strategy ⚫marketing mix ⚫implement, monitor and review. Marketing principles Cont.. ⚫Marketing Process: The goal of the marketing for any company is to find a way to discovering a unfulfilled customer needs and introduced products to the market that satisfy those needs ⚫Situation analysis: The main function of a situation analysis in a marketing plan is to illustrate what is occurring in the market that the business competes in as well as the business products and distribution trends. Marketing principles Cont.. ⚫Marketing Strategies: After examining the objectives of your organisation as well as identifying the suitable marketing opportunities to satisfied unfulfilled customers needs, a strategic plan for pursuing the opportunities needs to be developed. ⚫Marketing Mix: The marketing mix is the combination of the products, price, placement, and promotion involved in your marketing strategy. Marketing principles Cont.. ⚫Implement, Monitor, and Review: At this point, your marketing plan has been developed and your product has been launched. As the market changes, the marketing mix can be adjusting to accommodate. Marketing plan Format: ⚫Executive Summary ⚫Situational Analysis ⚫SWOT Analysis ⚫Marketing Objectives ⚫Marketing Strategies ⚫Marketing Implementation. Marketing plan ⚫ Executive Summary : An over view of all essential elements of the plan. ⚫Situational Analysis : An analysis of the about market environment and marketing context. ⚫SWOT Analysis: SWOT often includes SWATs or pests analysis. ⚫Marketing Objectives: The desire output of the marketing campaign as defined in the mission statement. Marketing plan ⚫ Marketing Strategies: The methods selected to achieve marketing goals and justification for what, who, when and why. ⚫Marketing Implementation: Implementation guidelines, timeframes, tasks responsibilities and monitoring, Marketing objectives Vision Mission Core Values Objectives Strategies Goals Action Plans Marketing Objectives Cont.. ⚫Strategic plan: The strategic plan process the establish the overall direction of the organisation, the vision, mission, values, goals, and objectives of the organisation. ⚫Marketing Plan: Planning Marketing activities should be informed by the strategic plan of your organisation. Marketing Objectives Cont.. ⚫Annual Report: The organisational annual report is a comprehensive document detailing the organisation’s financial performance and objectives for the year. ⚫ Marketing opportunities ⚫Ansoff’s product market growth matrix : When your organisation is developing its marketing objectives it needs to analyse new and existing marketing opportunities and assess how they will contribute to the growth of your business. ⚫Marketing penetration: A marketing penetration is where the business sells existing products into existing market Marketing opportunities ⚫Marketing Development: Marketing development is an expansion strategy where an organisation seeks to sells their existing products in your market. ⚫Product Development : is a development growth strategy where a business aims to introduces a new product into existing market. Analysis tools ⚫SWOT analysis ⚫gap analysis ⚫risk analysis. •Strengths •Opportunities •Weaknesses •Threats SWOT analysis The next step You should now be able to: ⚫Review Marketing Principles ⚫Determine The Format Of The Marketing Plan ⚫Review Marketing Objectives ⚫Identify Marketing Opportunities ⚫Analyze Marketing Opportunities. Marketing strategies and tactics BSBMKG609 Develop a marketing plan Session 2 Purpose of this presentation At the end of this session, you should know how to: ⚫determine marketing strategies and tactics ⚫Competition and consumer act ⚫Marketing mix strategies ⚫Legal environment and marketing mix ⚫develop implementation tactics ⚫evaluate legal and ethical requirements. Determine Marketing Strategies and Tactics ⚫Legal and ethical requirements: legislation may strike you as a dry topic, but the consequence of contravening legislation in marketing activities. ⚫Code of ethics: Many advertising and marketing professionals in Australia operate under a code of ethics outlined by the Australia Association Of National Advertisers (AANA). Determine Marketing Strategies and Tactics ⚫Direct Marketing Code of Practice: The association for data driven marketing and advertising has produced a code of practice. ⚫Privacy Protection ⚫National do not call register ⚫Mandatory cooling of period Competition And Consumer Act ⚫The competition and consumer act 2010 dictates the structure relationships between suppliers, wholesalers, retailers, competitor and customers and prohibits anticompetitive. • Area covered by the act include: • Anti coemptive conduct • Mergers and acquisition • Unfair market practice • Product safety and labelling • Industry code • Price fixing and monitoring Marketing mix strategies Marketing mix elements provide strategies for marketing goods and services. Product Price Place Promotion Legal Environment & Marketing Mix • Products: Law’s may prescribe standard of the purity and safety performance on products. • Price: Generally price controls are motivated by a desire to protect consumers interest or to control inflation. Legal Environment & Marketing Mix • Placement: Most countries have lost during the physical distribution of products, the last can relate to shipping and rights of carriage by air and sea. • Promotion: Promotion is highly regulate element of the marketing mix in most countries. Performance review ⚫ competitive analysis (Five Forces) ⚫ product life cycle analysis ⚫ value chain analysis ⚫metrics. •Competitive rivalry •Threat of entry •Power of buyers •Power of suppliers •Threat of substitutes Tactics •what • What needs to be done? •how • What constraints are there? •when • What time limits are there? •who • Who should or could do the task? ⚫scheduling ⚫budget ⚫roles and responsibilities ⚫monitoring process. Legislation and ethics • Legislation • Privacy • Consumer law • Discrimination •Marketing ethics •Codes of practice • ADMA • Commercial Television Industry The next step You should now be able to: Determine Marketing Strategies And Tactics Competition And Consumer Act Marketing Mix Strategies Legal Environment And Marketing Mix Develop Implementation Tactics Evaluate Legal And Ethical Requirements. Elements of a marketing plan BSBMKG609 Develop a marketing plan Session 3 Purpose of this presentation At the end of this session, you should know how to: • review marketing objectives • review marketing opportunities • determine the format of the marketing plan Elements of a marketing plan • Executive Summary • Situation Analysis • Marketing Strategy • Financials, budgets and forecasts • Marketing implementation and Control Executive summary “The Executive Summary is where you tell your story. The rest is just detail…” Situation analysis SWOT analysis – Used to analyse strengths, weaknesses, opportunities, and threats in the internal and external environment. A SWOT analysis can be used to pinpoint the most pressing problems and opportunities and to assess how well your company is equipped to deal with them. Five Cs analysis – Company (internal), customers (external), competitors (external), collaborators (internal), climate (external). PEST analysis – For macro-environmental political, economic, social and technological factors. A PEST analysis can be applied to ‘climate’ of the Five Cs analysis (above). Marketing strategy • Mission • Marketing and financial objective, • Target Market audience target, • Positioning & the Marketing Mix • Product development & Marketing Research Marketing strategy cont.. Mission statement: to ensure that you communicate your marketing strategies in a way that address the mission of the organisation. What how and why. 1. Describe what your organisation does 2. Describe how you do it 3. Describe why you do it Marketing strategy cont.. Marketing and financial objectives: This section basically explains to you key stakeholders what your organisation is trying to achieve. ▪ Target marketing: it is important to be able to clearly described who your marketing strategy will be targeting. Marketing strategy cont… Positioning and the marketing mix: the marketing plan will need to outline which elements in the available marketing mix are most appropriate. ▪ Product development and marketing research: This section of the marketing plan addresses the way the organisation plans on receiving. Marketing mix strategies Marketing mix elements provide strategies for marketing goods and services. Product Price Place Promotion Financials, budgets and forecasts • Break Even Analysis • Sales Forecast • Expense Forecast. Marketing implementation and control • Implementation Milestones & Measures • Marketing Assistance • Contingency Planning Preparing and presenting a marketing plan BSBMKG609 Develop a marketing plan Session 4 Purpose of this presentation At the end of this session, you should know how to: ⚫write the marketing plan ⚫present the plan ⚫provide leadership ⚫revise the plan. Write the plan ⚫format ⚫language ⚫organisational requirements. Write the plan cont. Format: The marketing plan become the basis for internal communication. Some consideration you need to keep in mind about the audience includes. ▪ What the audience needs to know ▪ Education level ▪ Prior knowledge of the topic ▪ Expectation of business report ▪ Numbers and types of visuals aids Write the plan cont.. Language: there are several key points to keep in mind when producing reports or any other type of complex business document. Communication is required following information: 1. Be precise 2. Be objective 3. Be accurate 4. Be impersonal Write the plan cont.. Organisational requirements: your organisation may have report writing standards to which you must adhere. Check with a supervisor or colleagues to make sure that you know about any organisation style. This may include direction for use of company logos, headers and footers. Present the plan Effective communication skills. Encoder Decoder Medium Message Feedback Noise Present the plan cont… During the write of the marketing plan it is helpful to continually ask yourself a set of question that assist with the wording and structure of the document. ▪ Comprehension ▪ Appropriateness ▪ Sustainability ▪ Feasibility ▪ accounatbility Present the plan cont.. Gaining management support: as with any strategic of marketing program that is implemented across an organisation. The two critical element for success are: 1. The support of senior management 2. Total team involvement Leadership Building trust and confidence Ability Integrity Empath y TRUST Revise the plan ⚫feedback ⚫Adjusting the marketing plan ⚫participation ⚫satisfaction. Revise the plan cont.. Feedback: This refers to the respond of the marketing message. Feedback in this sense is not referring to how well you deliver the presentation, but rather feedback on the content and implication of the strategy. Revise the plan cont.. Adjusting marketing plan: when the marketing plan has been evaluated in light of result achievements and feedback received it is likely that the modification we neeed to be made to the program to