TITLE - MARKETING PROCESSES AND PLANNING
LO1 EXPLAIN THE ROLE OF MARKETING AND HOW IT INTERRELATES WITH OTHER BUSINESS UNITS OF AN ORGANISATION
LO2 COMPARE WAYS IN WHICH ORGANISATIONS USE ELEMENTS OF THE MARKETING MIX TO ACHIEVE OVERALL BUSINESS OBJECTIVES
LO3 Produce a marketing plan for an organisation that meets marketing objectives
LO4 Develop a media plan to support a marketing campaign for an organisation
ASSIGNMENT SCENARIO: In your role as a Junior Marketing Analyst at the supermarket chain, you have been working hard on preparing the roll out for the new ‘Luxurious` range of own-brand food products. This product line will be positioned in a distinctive and inviting way that combines luxury, superior taste and value. Equally, the product line must sit comfortably with other regular and similar food products. You now need to develop a compelling and creative marketing plan for the new product line. It must clearly articulate a bold marketing strategy and include tactical actions that are clearly aligned to the overall organisational objectives.
You are a Junior Marketing Analyst working in the Marketing Department. Your role encompasses new product development, from initial research through to test trials in selected stores prior to full roll out.
Your duties include:
• gathering information on competitors in order to conduct analysis on their sales, prices and methods of distribution and marketing to thoroughly learn about the competition
• conducting research on marketing strategies and consumer opinions
• tracking and forecasting trends in sales and marketing, producing reports on the results for management to inform their decision making
• collecting and analysing data on customer preferences, demographics, buying habits and needs, to better identify market potential and the factors that influence product demand. You report into a Regional Marketing Manager who, in turn, is line managed by the Marketing Director
? In your role you have been asked by the management to present the media plan.
ACTIVITY 1 In producing the marketing plan, you will need to address the following areas.
• How the strategic marketing plan links with the overall organisational mission, corporate strategy and objectives. • Clear and SMART marketing objectives.
• Marketing research to support the new product line launch.
• A situational analysis, including: ? marketing audit, making use of appropriate analytical tools including SWOT, Pestle and 5C analysis ? a competitor analysis including the market segments and ? sub-segments covered ? articulation of the new product value-proposition in the eyes of the customer.
• Development of the marketing strategies applied to the extended marketing mix.
• Setting of an overall marketing budget, including allocation of planned spend.
• Tactical actions.
• Identifying appropriate control and monitoring measures to ensure achievement of objectives including metrics to measure success such as Return on Marketing Investment (ROMI) and Customer Lifetime Value (CLV). A comprehensive media plan that supports the planned marketing campaign, this will include:
• a media budget
• recommendations and rationale for selected and integrated multi-media activities within the set budget that meet the marketing objectives appropriate digital, offline and social media channels for communication • full justification for a multi-media plan based on quantitative and qualitative criteria.
• our marketing plan also needs to incorporate a media plan as part of the overall marketing campaign.which needs to presented to the management