Aim: The objective of this assignment is: · To enable you to understand marketing strategy and the elements of marketing analysis: customer analysis, company analysis and competitor analysis. · To...

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Aim: The objective of this assignment is:
· To enable you to understand marketing strategy and  the elements of marketing analysis: customer analysis, company analysis and competitor analysis.
· To assist you with evaluating the elements of the marketing mix (product, pricing, promotion, and distribution strategies)
· To enhance your problem solving techniques and decision making skills by learning how to leverage strategic marketing analysis
· To inform tactical marketing mix decisions while allowing you to consider a comprehensive framework to evaluate marketing decisions and to create successful planning initiatives.
· To expand your knowledge in the area of marketing strategy while increasing your awareness of the different strategic and tactical alternatives that are available
· To be able to identify and act on sustainable, social and ethical concepts required in planning.
A major and very important requirement is that you strongly link marketing theories and concepts to the issues identified in the organisation. Theory provides the framework from which to look at and understand the assignment question and to provide a perspective for examining the research data.  The text and lectures provides the basic theory about marketing and the terms used such as an explanation of the marketing environment.
Students should aim to start thinking about the marketing theory they have been learning about and to begin using that marketing perspective to better understand specific Consumer Products and organisations that are operating in the marketplace. 
Rationale: Students will gain knowledge about marketing and also see that there is a wide range of information available from a range of sources that can be used by organisations for analysis.  In writing the report students will demonstrate an understanding of the concepts behind strategic planning and the need to be coherent, concise, clear, well argued, and well-presented. 
 
Background
You are required to undertake this assessment individually.  The assessment will focus on the critical analysis of the concept for the Bank of Cancer Research. 
Each student will conduct an analysis of the marketing program for this new consumer product and the effectiveness of its launch and commercialization.  This will be done in the context of the competitive environment for banking services in general and not-for-profit, caused-based financial services in general. 
Based upon available information and your research you will need to undertake a review of the proposed concept for the Bank of Cancer Research and prepare a critique from a new-product launch perspective.   This should take into consideration the
oader environment for the provision of banking / financial services and will be presented as a marketing audit together with recommendations for each key element of the marketing program.
You will need to evidence a review of at least three organisations (Australian and international) that you consider to offer a closely comparable value-proposition and from which you believe illustrations of ‘good-practice’ can be drawn.
 
Supporting information and your research & enquiry
The Bank of Cancer Research is a ‘real-life’ project.  The work you undertake will be shared with the organization upon completion and could play an important in helping to support the launch of this important concept. 
It is expected that you will undertake both primary and secondary research during the conduct of your review.
Some secondary data will be provided to assist you.  Initially, a 
iefing on the proposed Bank of Cancer Research will be given during Session 2 by Mr. Aaron March who is the Melbourne-based Founder.  All students are required to attend this
iefing which will be held in-class.  A further opportunity to consult with Mr. March will be offered at a later point in the semester at a time to be negotiated. 
The following additional background information to support your analysis is available as follows:
1.   Videos for social media
Bank of Cancer Research - The Cure for Cancer Within Our Lifetime?:  https:
www.youtube.com/watch?v=HpgYPl2zdcA&t=318s
Bank of Cancer Research - Anything is Possible.  https:
www.youtube.com/watch?v=GoWrsd-iaUM
 
Bank of Cancer Research – Global Financial Crisis.  https:
www.youtube.com/watch?v=Uy7nGKXwkKw
Bank of Cancer Research - Tell Someone Else.  https:
www.youtube.com/watch?v=xzGi8bLIjhg
 
2.   Press release to American News outlets 
Please click on the link below to see the press release we send to 800 American
news outlets
https:
gallery.mailchimp.com/f4c5adf0f592fae24046d797a/files/Bank_of_Cancer_Research_Press_Release.pdf
3. Blogs and Memes on social media
Please see our Instagram page for a sample of our social media posts
https:
www.instagram.com
ankofcance
esearch
 4. Other:  Additional background information will be provided by The Bank of Cancer Research during class sessions.
Strategic Priorities for The Bank of Cancer Research:
The Bank has indicated the following as key strategic priorities:
1. Meet with the signatories to the Giving Pledge
We aim to meet with the signatories to the Giving Pledge, who are ou
identified potential investors, to explain the theory behind the bank which
includes the concepts of a Purpose Entity and Profit Differentiation. The
signatories to the Giving Pledge have both the philanthropic mindset and the
financial capacity to purchase an established bank and instantly make BCR a
eality. 
2. Raise public support for BCR 
To achieve the first goal we created the second goal which is to raise public
support for the concept. Building public support for the concept provides two
desired outcomes: 
1.    Increasing public support will allow us to attract the
attention of the signatories to the Giving Pledge and with the potential to
lead to an opportunity to meet with them
2.    Public support will also help prove that there is a market
for BCR which will make any investment decision by the Giving Pledge easier.
This assignment has been designed to support priority 2 above. 
Report Structure
Your report must address the key elements of a marketing plan/audit.  These will be identified and discussed in-class with your instructor.  Further details can be found in your prescribed text for this subject and via the li
ary. have at least 11 reference.
 
Best Student Report Competition and Employability
1. The Bank of Cancer Research will be invited to review all final assignments and the top-three will be provided with a Letter of Attestation, acknowledging the contribution of the winning LTU students to the project.  This commendation will be a valuable addition to students resume and employability.
2. Students completing this assignment may have the opportunity to gain further experience by participating in the Work Based Project subject (BUS5WIL) which is expected to be launched in Semester 2, 2017.  This for-credit work experience subject will enable successful applicants to negotiate and focus on developing a particular aspect of the BCR project as a further element of their academic program.
    Length:

    
2,500 words individually

    
Topic:

    
Marketing Audit for The Bank of Cancer Research
Answered Same DayOct 22, 2019BUS5WILLa Trobe University

Answer To : Aim: The objective of this assignment is: · To enable you to understand marketing strategy and the...

David answered on Dec 27 2019
69 Votes
Marketing Audit for The Bank of Cancer Research 1
Running head: MARKETING AUDIT FOR THE BANK OF CANCER RESEARCH
MARKETING AUDIT FOR THE BANK OF CANCER RESEARCH
Introduction
The Bank of Cancer Research (BCR) is generally determined as a new concept for a bank in which it uses its financial profits to fund the cancer research. In other words, banking profits are used to fund cancer research for the benefi
ts of cancer patients by treating cancer effectively. It is the true fact that banks make billions of dollar profits every year that can be used to fund the cancer research in order to create great impact on cancer treatments and curing the cancer within a lifetime (Fe
ell & Hartline, 2012). At the same time, BCR is a real-life project because it can help to find a cure
emedy for a disease that usually touches nearly every family.
Although there is difficulty in order to find out an issue of cancer of many lives because of the expensive nature of cancer research. Therefore, research is important to find out a cure to help everyone as believed by most of the many scientists, and doctors, as well as other experts. The possibility in finding treatment/cure options of cancer, it has inspired to create the Bank of Cancer Research and working hard to become into reality (Fe
ell & Hartline, 2012). The Bank of Cancer Research can be run just like banks where people can deposit money; but the profits of BCR can be used to fund the cancer research to solve the greatest problems of the world.
This paper is taken to conduct a marketing audit for the Bank of Cancer Research through customer analysis, company analysis and competitor analysis. This paper would also evaluate elements of the marketing mix and problem solving techniques by leveraging strategic marketing analysis. The tactical marketing mix decisions would also be considered in this study to create successful planning initiatives. The sustainable, social and ethical concepts would also be considered to make effective planning in the marketing audit for the Bank of Cancer Research.
Marketing Strategy and Elements of Marketing
Marketing Strategy:
According to the Luther (2011), marketing strategy of the organizations is the combination of the marketing goals with the comprehensive plan that is drawn from the market research. Additionally, the focus of the marketing strategy is associated with using the right product mix to gain the maximum profit for in the business operations potentially and sustainable. Therefore, it can be stated that the marketing strategy of the organizations is the base of a marketing plan in which products or services are managed effectively for the end-users or customers. In the words of Longenecker et al. (2011), marketing strategy of the BCR can face various challenges as issues in the market, such as difficulties in the financial a
angement, lack of trust/faith of the customers, needs of huge money for the cancer research, etc.
In case of BCR, marketing strategy is one of the most important considerations to increase awareness about the cancer research and purpose of such type of organizations. The marketing strategy can create a strong foundation for the BCR to get success in the future for a long-time. This new concept for cancer research is attractive and beneficial when the marketing strategy would be adopted effectively and efficiently. The efforts of the Bank of Cancer Research can develop medicines as the products to treat cancer or control the cancer for a long-time.
Elements of Marketing:
    Customer Analysis: The Bank of Cancer Research is the essential initiative in the field of medical field. BCR is a new concept in the world that specifically works as banking process. However, the profits of the BCR would be utilized for the cancer research to provide benefits to the needy people. In this scenario, customers would be common people, other organizations or industries, investors, etc. that can open their accounts in the BCR and can operate their accounts like common banking system (Lamb, Hair & McDaniel, 2011). But, the true fact would be cancer research by funding the profits. These customers can be the part of BCR for a long-time, like a common bank in their life. This could help to a
ange more money for the cancer research.
    Company Analysis: The BCR is not a common bank in the present scenario; but, it is considered as a social enterprise with the mission of pursuing as cancer research from its profits to help finding a cure for a disease that affects nearly each and every family at the global level. The annual profits of the BCR can be utilized in the cancer research to find out the cancer treatment procedure (Lamb, Hair & McDaniel, 2011). The activities of...
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