Task Your marketing plan will include the following elements: 1. A summary of your marketing plan Marketing Plan summary The marketing plan summary is a snapshot of your more detailed answers from...

1 answer below »

Task
Your marketing plan will include the following elements:
1. A summary of your marketing plan
Marketing Plan summary The marketing plan summary is a snapshot of your more detailed answers from your marketing plan. It should be easy to read and simple to follow.

 

Business Name
Business Structure What’s the formal structure of your business? (sole trader, franchising, corporate business and so on
Location
Products or services sold What products and/or services do you sell?
Target market In one or two sentences, summarise the key statistics for your target market (demographics, characteristics of population and so on)


Customer profile What’s the profile of an ideal customer for your business? In one or two sentences, clearly define your ideal customer - their needs, buying patterns and motivations for buying.


Competitor profile What’s the profile of a typical competitor for your business? What marketing mix do they use? Have you identified any gaps in their marketing strategy?


Marketing objectives In one or two sentences, summarise the key marketing objectives for your business

Marketing Strategy Use this section to summarise the overall strategy and marketing mix (The 4 P’s) you will use to position yourself within the market to meet your customers’ needs

 

 

 

2. Background analysis of your business and market
Business objectives
Mission Statement A Mission statement should outline HOW you will get to where you want your business to be in the future (Your Vision). It should define the PURPOSE and PRIMARY OBJECTIVES of your business and answer the question, 'What do we do?'


Short and Long-term goals
Market overview The Market Overview should provide an analysis of the market in which your business operates, including your customers, competitors and the market as a whole.


Market Research What research have you completed to help analyse your market? Did you utilise a survey/questionnaire?
Consider questions such as:
Is the area experiencing population growth or decline?
Does the region where you operate have a stable economy?
Are there any seasonal variations that might affect sales?
What is the size of the market?
What recent trends have emerged in the market?
Is there potential for growth in the market? How will you be able to capitalise on any opportunities?
How will your entrance affect the market/customers?
What external factors will affect your customers?

 

 

 

Marketing objectives Detail your SMART marketing objectives in the table below:

Objectives Specific Measurable Achievable Realistic Timeframe

3. Marketing Strategy (Marketing Mix): Use this section to detail the overall strategy you will use to position yourself within the market to meet your customers’ needs. Whatever your strategy, you goal should be to differentiate yourself from your competitors to encourage customers to choose your business first
Your Product or Service

The Pricing of your product or service

The Position (place) in the marketplace

The Promotion of your product or service

The People in your Business

The Process represents the buying experience

The Physical environment where the products are presented

Productivity and Quality (essential part of meeting customer needs)

4. Marketing activities
Once you have defined your marketing mix, the next step is to detail the specific activities that you will undertake to achieve your marketing objectives
What steps or activities will you undertake to achieve your marketing objectives?
Marketing activity/milestone Person responsible Roles and responsibilities of the person responsible Date of expected completion Cost ($) Success indicator
Print advertising, online advertising, mail-out, giveaway, media release, event, website, blog/social media, public relations, branding and artwork, or publications and catalogues. Who is responsible for completing this task? What are roles and responsibilities? When do you expect to complete the marketing activity? Estimated cost of activity. What indicator/ measurement result will need to be met before this activity is considered a success?

Answered Same DayNov 28, 2019BSBADM502Training.Gov.Au

Answer To : Task Your marketing plan will include the following elements: 1. A summary of your marketing plan...

David answered on Dec 27 2019
61 Votes
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here