1.Demonstrate the following knowledge and understanding
•Demonstrate from relevant research literature, a sound understanding of contemporary perspectives of the strategic role of marketing.
2.Demonstrate the following skills and abilities
•Carry out a marketing audit of an organization, develop a marketing plan and propose strategic marketing developments.
What am I required to do in this assignment?
Refer to the Effective Retailing in Oman 2020 case study and marketing plan template provided in attachment.
Using your research findings and PESTLE and SWOT analysis and matrices, from assignment 1(Has been attached by named “markting management 1”); complete numbers 5-8 (must include your PESTLE and SWOT matrices), of your marketing plan to provide recommendations to your selected company/brand.
Your Marketing Plan must include the following:
•Introduction and objectives – Your introduction should include a brief relevant background information of your chosen company/brand.
•Current Market and Brand – previously prepared PESTLE and SWOT matrices (make sure each finding has a reference).
•Marketing Plan Objectives – must be specific and realistic. Apply the SMART Rule. (Number 5 of the marketing plan template).
•Segmentation, Targeting and Positioning– this should emanate from your research. You must identify current and possibly new market segments for your brand. (Number 6 of the marketing plan template).
•Marketing Mix Strategy and Budget Recommendations-Note that you will need to recommend your marketing mix strategy for your selected brand. Your recommendations should stem from your market and company analysis. Your strategy recommendations must be relevant to the segments identified in your market situational analysis. You are also expected to use relevant strategic marketing planning tools to inform your recommendations. Refer to the strengths and weaknesses in your SWOT and the opportunities and threats derived from your PESTLE analysis to decide which elements of the 7 marketing mix Ps require alteration. Budget- provide a costing for each of your marketing mix elements. We do not expect you to come up with specific figures, but your costing should be based on research.(Number 7 of the marketing plan template).
•Evaluation and Control – how would the plan be monitored? What tools would you employ? Consider the Key Performance Indicators (KPIs). (Number 8 of the marketing plan template).
Additional Guidance on the Marketing Plan Report
1.Objectives – objectives need to be SMART, but it is unnecessary to explain in detail how smart they are.
2.The balance between market analyses and the actual planning/actions– ensure that your submissions are balanced with regards to analysis and planning. For example, do not use a lot of space summarising the analysis, at the expense of setting objectives and planning objective-specific marketing strategies and tactics.
3.Vagueness – planning needs to be very specific; stating that you will use ‘social media’ for promotion because it is the ‘most efficient tool’ is not enough. You need to explain the social media tool (s) – what they are, why you are using them and how you would use them.
4.Academic content – you are expected to apply models, and not just describe or define them. For example, your SWOT or PEST analyses should not read like textbooks in which you explain what SWOT or PEST are – this is essentially incorrect. You need to apply them and not describe them.
5.Executive summary – an executive summary should be written in a way that allows the executive who reads it to know what the problem is and how it is to be solved. Essentially, it is a summary of your problem statement, objectives and recommendations and how to achieve them (i.e. how to solve the problem).
6.Secondary data use – Analysis should be supported with secondary data (from the literature). You should demonstrate wider reading and acknowledge the sources of your information, both in the main body and in your bibliography. Avoid making very bold but not substantiated statements, such as ‘the only motor car company’ in Oman’ or ‘massive campaign’ or ‘massive customer segment’. Give numbers if you think the segment is large and compare it to other segments to give an idea of the size of it. Worth noting that your product offerings must relate to your chosen segments.
7.Presentation and structure – You needs to be immaculate – this includes numbering tables, referencing correctly etc. Do not present a lot of data and information in tables as appendices. Data or statistics that refer directly to your discussion in the main body, should be presented in the main body. Tables and figures – tables and figures need to be numbered and each should have a title that is self-explanatory. Your analytical content must be high, demonstrating critical thinking and the ability to apply relevant marketing concepts.
8.Word limit – 1,600 words. This will exclude your references in the bibliography, the appendices, and the cover page.
*** Words count = 1600 words.
*** In-Text Citations and References using Harvard style.
*** I have been uploaded attachment named “marketing management 1”.