38369755 market-entry-strategy
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Analysys Mason has developed a systematic approach to creating well-supported market entry strategies that minimize uncertainties for new entrants. The approach involves comprehensive analysis of the market, competition, regulations and internal assets to identify strategic risks and opportunities. A clear overall strategy is developed addressing positioning, products, pricing, branding, sales and distribution to achieve objectives. Detailed tactical plans for launch implementation are also created to ensure a coordinated and efficient market introduction.
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This document discusses developing marketing strategies and plans. It covers how marketing affects customer value through a value delivery process. Strategic planning is carried out at different organizational levels, from corporate to business unit levels. A marketing plan should include identifying target markets, analyzing opportunities, and outlining strategies, goals, budgets and controls. It also discusses holistic marketing and how companies can maximize value exploration, creation and delivery by focusing on customers, core competencies, collaborative networks and internal resources.
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Assessment Resource SummaryUnit DetailsBSBMKG609 D.docx
Assessment Resource Summary
Unit Details
BSBMKG609 Develop a marketing plan
Assessment Type
This is a
summative assessment
, this assessment needs adequate practice prior to undertaking this assessment.
Assessment Methods
Project and PPT
Assessment 2
Task 2 – Project Work and Presentation
Submission Details
The assessment task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor.
Submit this document with any required evidence attached. See instructions below for details.
Assessment description
This assessment his divided in four (4) sections. This assessment requires you to devise a marketing strategy, plan marketing tactics, prepare the marketing plan and present and adjust the marketing plan.
Procedure
Section 1:
Devise a marketing strategy
Write a report that outlines the marketing strategies required for a marketing plan. You may use the case study scenario in Annex VII to complete the tasks.
Also read:
Marketing Plan for SPAR
1. Evaluate the options for marketing opportunities.
a. Provide a summary of the organisation’s business structure and products/services it provides.
b. Address the organisational objectives.
c. Evaluate the risks and returns in the selection process.
2. Identify the organisation’s strengths and opportunities in line with its current capabilities and resources.
a. Complete a SWOT analysis.
b. Complete a gap analysis.
c. Identify at least two possible alliances, and weigh up the advantages and disadvantages.
3. Develop feasible marketing strategies for the product/service.
a. Identify the strategies for pricing, placement and promotional channels.
b. Describe a marketing mix, such as the people, processes and physical evidence.
c. Identify the target market segmentation.
d. Recommend marketing strategies and explain how they align with the organisation’s strategic direction.
4. Develop a marketing performance review strategy. The strategy must be able to:
a. Measure the organisation’s marketing performance using marketing metrics such as numbers of clicks, conversion rates and return on investment (ROI).
b. Review organisational performance, such as by using progress reports.
Section 2:
Plan marketing tactics
More to read:
PESTL Analysis Assessment Task
5. Write a report that details a tactical plan for implementing each of the marketing strategies you recommended.
a. Develop a coordination and monitoring mechanism for scheduled activities, such as a work schedule or project management application. This includes:
· Detailing a budget for implementing the marketing strategy
· Identifying the people responsible for tasks, including internal and external stakeholders such as suppliers and specialists.
b. Explain how the strategies are achievable in line with the organisation’s objectives, capabilities and budget.
c. Explain how the tactics meet legal and ethical requirements.
d. Identi.
Planning the marketing
This document outlines the sections and purposes of a marketing plan. It includes sections for an executive summary, current marketing situation, threats and opportunities, objectives and issues, marketing strategy, action programs, budget, and controls. The executive summary presents main goals and recommendations. The current marketing situation describes the target market, competition, and product performance. Threats and opportunities assesses external factors. Objectives and issues states goals and key issues. The marketing strategy outlines customer value creation strategies. Action programs details implementation plans. The budget shows financial projections. Controls allow monitoring and review of progress.
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