In this Activity you will be required to create a Marketing Plan for your business. In order to complete this activity, you will need to use your business plan created in unit BSBMB404 Undertake Small...

1 answer below »
In this Activity you will be required to create a Marketing Plan for your business. In order to complete this activity, you will need to use your business plan created in unit BSBMB404 Undertake Small Business Planning and: Choose from one of the Marketing Objectives listed below: • Valentine’s Day • Mother’s Day • Melbourne Cup • Christmas • Australia Day • Easter, New BusinessA. Develop Marketing strategies: Research your demographic using www.localstats.com.au search the area your business is in. From your findings • Find your target market for your customer base • Identify the wants and needs your customer base may require. • Create a budget for your Marketing Objective • Researching through Internet or directly find information for comparisons on salons in your area. Examples of this information are pricelists and treatment menus and must be provided. Ensure all marketing strategies follow your business image (Vision and Mission statements), Policies and Procedures.
B. Determine a marketing mix for the business: • Assess key items or services and pricing for marketing focus to optimise profit. Examples of this could mean packaging products and services for promotion and or discounting services. • Evaluate costs and benefits of getting other business in your area to get on board. Examples of this may mean offering a bottle of wine from the local Winery or a meal at your local restaurant as a package. • Determine ways of digital promotion and marketing. Begin a social media campaign for your Marketing Objective. You can use Facebook, LinkedIn, Twitter, Instagram, or create your own Website with wix.com.


C. Implement Marketing Strategies: • Ensure the success of your Marketing by briefing all those involved of their roles and responsibilities. • Make a list of people involved, their responsibility and time frames. (An example of this would be. Staff, Suppliers, Printers, Advertising) Staff member (Jenny) Order and supply promotional T. Shirts Completed 2 weeks prior to promotion


Answered 1 days AfterMar 07, 2022

Answer To: In this Activity you will be required to create a Marketing Plan for your business. In order to...

Shubham answered on Mar 08 2022
98 Votes
MARKETING MANAGEMENT
Table of Contents
A.    Develop Marketing Strategies    4
Target market    4
Needs of Customer    4
Budget for marketing    4
Comparisons with market    4
B. Marketing Mix    5
Product    5
Price    5
Place    5
Promotion    5
C. Implementing marketing strat
egies    6
References    8
A. Develop Marketing Strategies
Marketing Objective: Christmas
Target market
The target customers are commuters and locals of Melbourne who are looking for a space to spend an evening with their families, friends and loved ones. It is rightly said a lot can happen over coffee. Chirstmas is an ideal time when people are relaxed and go for outing and want to explore options where they can spend memorable time even if it is coffee. These people are upper-middle class to lower-middle class who have genuine disposable income. People who are waiting at station to receive their guests will also like to explore the menu and might want to come here casually as well.
Needs of Customer
Customer wants a place with ambience which is relaxing and vibrant at the same time. they want menu which is simple yet attractive. They want cheap options as drinking coffee should not be an expensive affair. They are interested in a café which is budget friendly and they can come to the place more often. For economical value they should receive good quality service and a tasty coffee (Fadillah, 2019). During Christmas the weather is normally cold and long talks require hot beverages to start with. Being coffee is one of the favourite among Australians Coffee Ville is expected to have good customer base in near future.
Budget for marketing
It is expected that due to low price coffee the business will take off very quickly. It is decided to set the budget of $20,000 for marketing initially. As the sales will grow the 10% of increased sales will be added to the budget periodically. This budget will be reviewed after every two months and additional cost will added to it according to the results (Soedarsono et,al, 2020). The budget will also keep aside15 contribution to promote the Coffee Ville during special days like New year, Valentines day etc. This will help to manage the marketing with the budgeted costs only and with no extra burden on profits.
Comparisons with market
As compared to other competitors in the market Coffee Ville will be offering pocket friendly cup of coffee which can be afforded by students also. Starbucks, Hidden Coffee, Hudson Coffee, café Bene have offerings from high to reasonable which makes them a threat for Coffee Ville in the market. The confidence in the...
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here